Hudson Student Financial Counseling Bill Passes House

Statement

Today, U.S. Representative Richard Hudson (NC-08) applauded passage of H.R. 4984--the Empowering Students through Enhanced Financial Counseling Act. Introduced last month by Reps. Hudson, Brett Guthrie (KY-02), and Suzanne Bonamici (OR-01), this bipartisan legislation will promote financial literacy through enhanced counseling for all recipients of federal financial aid to help students make smart decisions about financing their higher education.

"The skyrocketing cost of tuition is a major problem in this country that prohibits many students from pursuing higher education and forces others to rely on borrowing money to achieve their dreams. Combined with the bleak job prospects that face recent college graduates, many of these students do not realize the financial commitment they are undertaking and its impact on their future.

"This legislation will help ensure that student borrowers and parents receive interactive counseling each year to empower them to make smart decisions about their financial future. I am very pleased this commonsense bill passed the House today with bipartisan support and look forward to its swift consideration in the Senate."

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