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A bill to establish additional protections and disclosures for students and co-signers with respect to student loans, and for other purposes.

USA115th CongressS-2180| Senate 
| Updated: 11/30/2017
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (3)
Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Cory A. Booker (Democratic)

Health, Education, Labor, and Pensions Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Christopher Bryski Student Loan Protection Act or Christopher's Law This bill amends the Truth in Lending Act to require a private student loan lender to disclose clearly and conspicuously in writing a cosigner's obligations regarding a private student loan. The Consumer Financial Protection Bureau (CFPB) must publish a model form for such disclosure. The bill prohibits a private student loan lender from taking an adverse action against a borrower (e.g., placing a loan in default or accelerating a loan balance) upon a cosigner's death, disability, or bankruptcy. It also prohibits adverse actions against a cosigner for a borrower's death, disability, or bankruptcy. The CFPB must establish and a private student loan lender must disclose criteria for releasing a cosigner from a private student loan obligation. A private student loan lender must also: provide prompt notice of a cosigner's release; allow a borrower to designate a legal representative to make decisions upon the death or disability of such borrower; and ensure a borrower and cosigner receive comprehensive counseling on the terms, conditions, and responsibilities of a private student loan. Additionally, this bill amendsthe Higher Education Act of 1965 to expand the required elements of entrance counseling for a federal student loan borrower to include: conditions for loan discharge upon the death or disability of a borrower, options for loan repayment and forgiveness upon the death or disability of a borrower or cosigner, and obligations of a borrower or cosigner upon the death or disability of a borrower. It requires clear and conspicuous disclosure of a student's option to designate a legal representative to make decisions about a federal student loan upon such student's death or disability.
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Timeline
Nov 30, 2017
Introduced in Senate
Nov 30, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  • November 30, 2017
    Introduced in Senate


  • November 30, 2017
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Education

Related Bills

  • S 115-2155: Economic Growth, Regulatory Relief, and Consumer Protection Act
BankruptcyConsumer creditConsumer Financial Protection BureauDisability and paralysisGovernment lending and loan guaranteesHigher educationStudent aid and college costs

A bill to establish additional protections and disclosures for students and co-signers with respect to student loans, and for other purposes.

USA115th CongressS-2180| Senate 
| Updated: 11/30/2017
Christopher Bryski Student Loan Protection Act or Christopher's Law This bill amends the Truth in Lending Act to require a private student loan lender to disclose clearly and conspicuously in writing a cosigner's obligations regarding a private student loan. The Consumer Financial Protection Bureau (CFPB) must publish a model form for such disclosure. The bill prohibits a private student loan lender from taking an adverse action against a borrower (e.g., placing a loan in default or accelerating a loan balance) upon a cosigner's death, disability, or bankruptcy. It also prohibits adverse actions against a cosigner for a borrower's death, disability, or bankruptcy. The CFPB must establish and a private student loan lender must disclose criteria for releasing a cosigner from a private student loan obligation. A private student loan lender must also: provide prompt notice of a cosigner's release; allow a borrower to designate a legal representative to make decisions upon the death or disability of such borrower; and ensure a borrower and cosigner receive comprehensive counseling on the terms, conditions, and responsibilities of a private student loan. Additionally, this bill amendsthe Higher Education Act of 1965 to expand the required elements of entrance counseling for a federal student loan borrower to include: conditions for loan discharge upon the death or disability of a borrower, options for loan repayment and forgiveness upon the death or disability of a borrower or cosigner, and obligations of a borrower or cosigner upon the death or disability of a borrower. It requires clear and conspicuous disclosure of a student's option to designate a legal representative to make decisions about a federal student loan upon such student's death or disability.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Nov 30, 2017
Introduced in Senate
Nov 30, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  • November 30, 2017
    Introduced in Senate


  • November 30, 2017
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (3)
Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Cory A. Booker (Democratic)

Health, Education, Labor, and Pensions Committee

Education

Related Bills

  • S 115-2155: Economic Growth, Regulatory Relief, and Consumer Protection Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
BankruptcyConsumer creditConsumer Financial Protection BureauDisability and paralysisGovernment lending and loan guaranteesHigher educationStudent aid and college costs