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Bill Detail: SB19-002

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Title Regulate Student Education Loan Servicers
Status Senate Committee on Education Refer Amended to Finance (02/07/2019)
Bill Subjects
  • Financial Services & Commerce
House Sponsors
Senate Sponsors S. Fenberg (D)
F. Winter (D)
House Committee
Senate Committee Education
Date Introduced 01/04/2019
Description

The bill requires an entity that services a student education loan to
be licensed by the administrator of the Uniform Consumer Credit Code.
Servicing means receiving a scheduled periodic payment from a student
loan borrower, applying the payments of principal and interest with
respect to the amounts received from a student loan borrower, and similar
administrative services. The bill also creates a student loan ombudsperson

to provide timely assistance to student loan borrowers.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/06/2019) (most recent)  
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