SB3106 amends the Know Before You Owe Private Education Loan Act to require private educational lenders to report certain information annually to the.
SB3106 amends the Know Before You Owe Private Education Loan Act to mandate that private educational lenders submit an annual report to the Department of Financial and Professional Regulation and the Student Loan Ombudsman. The report must include details such as the total number and dollar amount of private education loans made annually, the number and dollar amount of loans made with a cosigner, and the default rates for these loans.
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