- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Uncodified Acts
- RIS Users (account required)
- Bills & Resolutions
- Bill Summaries
- Reports to the General Assembly
House and Senate documents
Developed and maintained by the Division of Legislative Automated Systems.
SB 510 Higher educational institutions; policies addressing student loan vendors.
SUMMARY AS PASSED: (all summaries)
Institutions of higher education; student lending policies; report. Requires the State Council of Higher Education to develop policies and procedures for disclosing certain information to students on student lending practices. This information shall include (i) the criteria used to determine which lenders, if any, are recommended or endorsed by the school, and (ii) explicit notification that students are free to borrow from any lender of their choosing and are not limited to a list offered by the school. Also, the bill prohibits public institutions of higher education from entering into exclusive agreements with vendors regarding student loans, and prohibits employees from accepting gifts to induce endorsement of certain vendors.