summary
Introduced
05/07/2019
05/07/2019
In Committee
05/07/2019
05/07/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To require certain protections for student loan borrowers, and for other purposes. 1
AI Summary
This bill:
Amends the Higher Education Act of 1965 and the Truth in Lending Act to require certain protections for student loan borrowers. Key provisions include requiring student loan servicers to notify borrowers about repayment options and servicemember benefits, prohibiting certain fees and interest rate increases, and establishing servicing standards and a student loan servicing interagency working group. The bill also enhances disclosure requirements for private education loans, creates a centralized point of access for federal student loan borrowers, and expands the role of the Consumer Financial Protection Bureau's Education Loan Ombudsman. The bill aims to improve consumer protections and transparency for student loan borrowers.
Committee Categories
Health and Social Services
Sponsors (10)
Dick Durbin (D)*,
Richard Blumenthal (D),
Sherrod Brown (D),
Tammy Duckworth (D),
Kamala Harris (D),
Amy Klobuchar (D),
Jeff Merkley (D),
Jack Reed (D),
Tina Smith (D),
Elizabeth Warren (D),
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 05/07/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/1354/all-info |
| BillText | https://www.congress.gov/116/bills/s1354/BILLS-116s1354is.pdf |
| Bill | https://www.congress.gov/116/bills/s1354/BILLS-116s1354is.pdf.pdf |
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