|Introduced in House||Passed House||Introduced in Senate||Passed Senate||Became Law|
Higher educational institutions; qualified education loans, providers of private student loans.
Requires any provider of private student loans to provide student loan advising information to a student prior to issuing a loan to any student in the Commonwealth. The information shall be developed by the State Council of Higher Education for Virginia and include information relevant to a student considering a private student loan. The bill directs the Council to include relevant stakeholders in the development of such information.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 23.1-233.1 as follows:
� 23.1-233.1. Qualified education loans; certain providers; contact information and summary.
Any provider of private student loans shall disclose to any student attending an institution of higher education in the Commonwealth, prior to issuing a qualified education loan to such student, the contact information for the Office of the Qualified Education Loan Ombudsman and a summary of the student loan information applicable to private student loans that may be found on the Councils website. Any such disclosure may be made in conjunction with or incorporated into another disclosure to such student prior to issuing the qualified education loan. The summary shall be developed by the Office of the Qualified Education Loan Ombudsman in consultation with relevant stakeholders.
2. That the provisions of this act shall become effective on July 1, 2021.
|01/27/2020||House||House: Committee substitute printed 20106390D-H1|
|01/27/2020||House||House: Reported from Education with substitute (22-Y 0-N)|
|01/22/2020||House||House: Subcommittee recommends reporting with substitute (8-Y 0-N)|
|01/13/2020||House||House: Assigned Education sub: Post-Secondary and Higher Ed|
|01/06/2020||House||House: Prefiled and ordered printed; offered 01/08/20 20102544D|
|01/06/2020||House||House: Referred to Committee on Education|