Establishes the student loan borrower bill of rights to protect borrowers and ensure that student loan servicers act more as loan counselors than.
New York A01146 establishes the student loan borrower bill of rights to protect borrowers and ensure that student loan servicers act more as loan counselors than debt collectors. It defines key terms, establishes the position of student loan ombudsperson, and outlines licensing requirements for student loan servicers. The bill also includes provisions for record-keeping, prohibitions against certain practices, and annual reporting requirements.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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