HB2302 establishes licensing requirements for student loan servicers in Arizona.
HB2302 introduces a licensing framework for student loan servicers in Arizona. It mandates that any entity servicing student education loans must obtain a license from the deputy director. The bill outlines specific duties for student loan servicers, including maintaining records for at least two years, complying with federal laws, and adhering to a set of prohibited practices. It also establishes the role of a student loan ombudsman to assist borrowers with complaints and provide education.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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