summary
Introduced
03/12/2020
03/12/2020
In Committee
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Establishing a student loan bill of rights
AI Summary
This bill establishes a student loan ombudsman within the office of the Massachusetts Attorney General to assist student loan borrowers with resolving complaints, exploring repayment options, and understanding their rights. The bill also creates a Student Loan Assistance Trust Fund to support the ombudsman's work and provide direct assistance to borrowers. Additionally, the bill regulates student loan servicers, requiring them to obtain a license from the state Division of Banks, and prohibits unfair or deceptive practices. The bill sets timelines for implementation, with key provisions taking effect in September 2020 and January 2021.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Senate Committee on Ways and Means (S)
Last Action
Recommended new draft for S160 (on 03/12/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S2595 |
| Bill | https://malegislature.gov/Bills/191/S2595.pdf |
Loading...