Establishes the student loan borrower bill of rights to protect borrowers and ensure that student loan servicers act more as loan counselors than.
The bill 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 creates the position of student loan ombudsperson within the Department of Financial Services to assist borrowers. The ombudsperson will receive, review, and assist in resolving complaints from borrowers, compile and analyze data on complaints, and provide information to the public regarding borrower problems and concerns.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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