To establish an interactive online dashboard to improve public access to information about student loan forgiveness programs, repayment programs, and repayment plans.
About This Bill
Committee
Latest Action · December 14, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
The SMARTER Debt Act requires the U.S. Department of Education to create an interactive online dashboard within two years to help borrowers find information about federal student loan forgiveness programs, repayment programs, and repayment plans. The dashboard must be accessible to people with disabilities and allow users to search for programs by career field, field of study, loan type, and location, with links to application portals. The bill affects students, prospective students, institutions of higher education, and any borrower seeking to understand their federal student loan options. The Department of Education must issue a plan for launching the dashboard within 180 days of the bill's enactment and is required to keep the information current. No specific funding amount is allocated in the legislation, though the Department will need resources to develop and maintain the online tool.
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