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Congress is set to vote on more mandatory financial counseling to help curb student loan defaults

Justin Ho Sep 5, 2018
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Students pull a mock 'ball & chain' representing the $1.4 trilling outstanding student debt at Washington University in St. Louis, Missouri, in 2016.
PAUL J. RICHARDS/AFP/Getty Images

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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