MACV–SOG Congressional Gold Medal Act

Senate Bill

S. 1970

119th Congress

MACV–SOG Congressional Gold Medal Act

In Committee

Introduced:Jun 5, 2025

Primary Sponsor

Steve Daines

Senator

Republican

MT

Cosponsors

5

Quick Stats

Policy Area

Education

Summary

This bill would require colleges and universities to provide more detailed information to students about their federal student loans. It would ensure students have a clear understanding of the loan amounts they are borrowing each year and provide sample repayment plans to help them make informed decisions.

Latest Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

SponsorSteve Daines (R-MT)

Introduced6/5/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

Data from Congress.gov

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Vote Prediction

MACV–SOG Congressional Gold Medal Act

This bill would require colleges and universities to provide more detailed information to students about their federal student loans. It would ensure students have a clear understanding of the loan amounts they are borrowing each year and provide sample repaym

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This bill would require colleges and universities to provide more detailed information to students about their federal student loans. It would ensure students have a clear understanding of the loan amounts they are borrowing each year and provide sample repayment plans to help them make informed decisions.

Bill Number: 1970
Sponsor: Steve Daines (R-MT)
Introduced: 6/5/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy Area: Education

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: MACV–SOG Congressional Gold Medal Act
Bill Number: 1970
Sponsor: Steve Daines (R-MT)
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 6/5/2025
Summary: This bill would require colleges and universities to provide more detailed information to students about their federal student loans. It would ensure students have a clear understanding of the loan amounts they are borrowing each year and provide sample repayment plans to help them make informed dec

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require colleges and universities to provide more detailed information to students about their federal student loans. It would ensure students have a clear understanding of the loan amounts they are borrowing each year and provide sample repayment plans to help them make informed decisions.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Informed Student Borrowing Act of 2023 This bill revises and expands loan counseling for borrowers of federal student loans. Specifically, the bill requires an institution of higher education (IHE) that participates in federal student aid programs to provide loan counseling to a student borrower of a federal student loan at the first disbursement of a loan in each award year. Currently, an IHE must provide one-time entrance counseling to a student who is a first-time federal student loan borrower. The bill also revises and expands required elements of loan counseling. For example, required elements of loan counseling must include (1) an explanation that the borrower must affirmatively determine and manually enter the federal loan amount that the borrower will borrow for each award year, and (2) sample monthly repayment amounts based on the standard repayment plan and the most commonly used income-driven repayment plan. Each IHE must ensure that student borrowers and parent borrowers manually enter the exact dollar amount of the loan that they wish to borrow for the year. If an IHE provides a student or prospective student with a financial aid award notification that includes funds under the Federal Work-Study Program, then the IHE must ensure that the notification includes an explanation that these funds are not directly awarded to the student or IHE and that such amounts must be earned through the student's completion of work over time.

Key Points

Main provisions of the bill

Colleges must provide loan counseling to students at the start of each school year, not just once when they first take out a loan.
The loan counseling must include specific details like the exact loan amount the student is borrowing and sample monthly repayment plans.
Colleges must ensure students manually enter the loan amount they want to borrow, rather than just accepting a default amount.

How This Impacts Americans

Potential effects on citizens and communities

This bill would affect all college students who take out federal student loans. It would give them more transparent and detailed information to better understand the loans they are taking on and the future repayment obligations. This could help students make more informed decisions about their borrowing and better plan for the financial impact of student loans.

Policy Areas

Primary Policy Area

Education

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1970, 119th Congress (2025). "MACV–SOG Congressional Gold Medal Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-1970

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