Legislators
Bills
Statements
Represent

S.1803: Student Loan Borrower Bill of Rights

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about education
You can read the bill
Sponsor Richard J. Durbin, D-Ill.
Total Cosponsors 11 (All Democrats)
Introduced Dec. 11, 2013
Latest Major Action June 4, 2014
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Student Loan Borrower Bill of Rights - Amends the Truth in Lending Act to require private educational lenders to disclose to borrowers at least 30 days before the first fully amortized payment on their loan is due:

  • certain information concerning the terms of the loan,
  • the date on which the first payment is due,
  • the name of the lender and servicer and certain contact information, and
  • a description of alternative repayment plans.

Requires private educational lenders to disclose to borrowers who become 30 days delinquent on their loan:

  • the date on which the loan will be charged-off or assigned to collections, including the consequences of those actions;
  • the minimum payment that the borrower must make to avoid the loan being charged off or assigned to collection;
  • the minimum payment that the borrower must make to bring the loan current; and
  • a statement informing the borrower that paying l...

    (Source: Congressional Research Service)

Bill Actions

Date Description
June 4, 2014 Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection. Hearings held. With printed Hearing: S.Hrg. 113-445.
Dec. 11, 2013 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S8669-8673)