Attorney Presentation
Reviewing State Student Loan Servicing Licensing Laws – A Precursor to National Legislation?
Since 2015, a growing number of states have passed new laws establishing Student Loan Ombudsman Offices to represent the interests of borrowers on student loan‐related matters and requiring student loan servicers to obtain a license to service federal and private student loans in their states.
Bonnie Dye (New Orleans) will co-present “Reviewing State Student Loan Servicing Licensing Laws” on the recent updates to consumer protection laws at the National Council of Higher Education Resources (NCHER) Virtual Annual Conference on November 12, 2020.
In this session, the panel will provide an update on state student loan servicing licensing laws (including legislative initiatives currently moving through the California and Massachusetts legislatures), highlight the differences between the various statues, discuss how NCHER members are currently complying with current statues, and talk about the push for moving from a patchwork of state laws to uniform, nationwide, and federally mandated consumer protections.