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2018 SESSION

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SB 394 Qualified Education Loan Ombudsman, Office of the; established, report.

Introduced by: Janet D. Howell | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Office of the Qualified Education Loan Ombudsman. Establishes the Office of the Qualified Education Loan Ombudsman (the Office) within the State Council of Higher Education for Virginia. The Office's duties include (i) receiving, reviewing, and attempting to resolve complaints from qualified education loan borrowers; (ii) compiling and analyzing data on such complaints; (iii) assisting qualified education loan borrowers to understand their rights and responsibilities under the terms of qualified education loans; (iv) providing information regarding the problems and concerns of qualified education loan borrowers; (v) analyzing and monitoring the development and implementation of applicable laws and policies; and (vi) disseminating information concerning the availability of the Office to assist qualified education loan borrowers and any other participant in qualified education loan lending with qualified education loan servicing concerns. The Office is further required to establish and maintain a qualified education loan borrower education course by December 1, 2019. This bill is identical to HB 1138.


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