Congress is set to vote on more mandatory financial counseling to help curb student loan defaults
Congress is set to vote on more mandatory financial counseling to help curb student loan defaults
Congress is set to vote on a bill that would require student borrowers to receive annual financial counseling. That means online or in-person sessions for any student with a federal loan or a Pell Grant. The proposed law is aimed at improving financial literacy at a time when student debt is topping $1.4 trillion, and default rates keep growing.
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