Florida Senate - 2017                                     SB 396
       By Senator Hukill
       14-00061-17                                            2017396__
    1                        A bill to be entitled                      
    2         An act relating to student loan debt; creating s.
    3         1009.894, F.S.; defining the term “student loans”;
    4         requiring postsecondary institutions to annually
    5         provide certain students with specified information
    6         regarding their student loans; providing that an
    7         institution does not incur any liability for providing
    8         such information; providing an effective date.
   10  Be It Enacted by the Legislature of the State of Florida:
   12         Section 1. Section 1009.894, Florida Statutes, is created
   13  to read:
   14         1009.894 Student loan information.—
   15         (1) As used in this section, the term “student loans” means
   16  loans offered to a student to pay for education-related expenses
   17  such as tuition, room and board, and textbooks.
   18         (2) Beginning with the 2017-2018 academic year, a
   19  postsecondary institution that receives state financial aid
   20  information for an enrolled student shall annually provide the
   21  student with the following information:
   22         (a) An estimate of:
   23         1. The total amount of student loans taken out by the
   24  student.
   25         2. The student’s total potential payoff for the student
   26  loans he or she has taken out or an estimate of a range of the
   27  total payoff amount.
   28         3. The monthly repayment amounts that the student may
   29  incur, including principal and interest, for the student loans
   30  he or she has taken out at the time the institution provides the
   31  student loan information required under this paragraph.
   32         (b) The percentage of the borrowing limit that the student
   33  has reached at the time the information under paragraph (a) is
   34  provided.
   35         (3) An institution does not incur liability for providing
   36  information to a student under this section.
   37         Section 2. This act shall take effect July 1, 2017.