Bill > HB61

This bill amends the definition of a "student financing company" to exclude institutions of postsecondary education, which are schools or other institutions offering educational programs to individuals at least 16 years old who have graduated from or left high school, from certain registration and reporting requirements. This change means that colleges and universities themselves will no longer be considered student financing companies under this specific law, even if they offer student financing products that are not part of federal programs like the Higher Education Act of 1965, or if they are not accredited or authorized to operate in the state. The bill is set to take effect on October 1, 2026.

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https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0061?ys=2026RS