Introduced in House Passed House Introduced in Senate Passed Senate Became Law
01/06/2020     01/27/2020  

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.

Date Version PDF TXT
01/27/2020 House: Committee substitute printed 20106390D-H1 Open
01/06/2020 House: Prefiled and ordered printed; offered 01/08/20 20102544D Open

            

2020 SESSION

    20106390D
    HOUSE BILL NO. 743
    AMENDMENT IN THE NATURE OF A SUBSTITUTE
    (Proposed by the House Committee on Education
    on January 27, 2020)
    (Patron Prior to Substitute--Delegate Bulova)
    A BILL to amend the Code of Virginia by adding a section numbered 23.1-233.1, relating to qualified education loans; certain providers; contact information and summary.

    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.

    Picture Name From Date Type
    David L. Bulova D-Richmond Sponsor
    Ibraheem S. Samirah D-Richmond Cosponsor
    Date Branch Action
    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
    Summary
    Congress - Bill Number Major Title
    Branch Vote Date Yes No Not Voting
    Wiki





    Start Description.
    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.
    End Description.

    Bill TEXT Points.
    This Bill has been listed with the following Subjects from Texts:
    Education
    ---------- Patrons-- Bulova and Samirah ---------- Referred to Committee on Education ---------- Be it enacted by the General Assembly of Virginia: 1

    Virginia
    743 Offered January 8, 2020 Prefiled January 6, 2020 A BILL to amend the Code of Virginia by adding in Chapter 4 of Title 23

    Higher education



    End Bill TEXT Points.
    Date Bill Major Title
    Committee Name
    Subject Type