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MA S2380

MA S2380
Establishing a student loan bill of rights


summary

Introduced
03/29/2018
In Committee
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

SENATE, Thursday, March 29, 2018 - The committee on Ways and Means to whom was referred the Senate Bill establishing a student loan bill of rights (Senate, No.129),-- reports, recommending that the same ought to pass with an amendment substituting a new draft with the same title (Senate, No. 2380).

AI Summary

This bill establishes a student loan ombudsman within the Office of the Attorney General to assist borrowers with student loan issues, such as exploring repayment options, avoiding defaults, and resolving billing disputes. The bill also requires the Division of Banks to maintain a consumer assistance unit to handle complaints related to student loans and student loan servicers, and mandates an annual report on these activities. Additionally, the bill creates a licensing system for student loan servicers, giving the Commissioner of Banks the authority to investigate, suspend, and revoke licenses for violations. The bill aims to provide greater protections and assistance for student loan borrowers in Massachusetts.

Sponsors (0)

No sponsors listed

Last Action

Reprinted as amended, see S2421 (on 04/11/2018)

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