A bill to provide for the establishment of a Private Education Loan Ombudsman.

Summary

Directs the Secretary of the Treasury (Secretary) to appoint a Private Education Loan Ombudsman to provide timely assistance to borrowers of private education loans. Requires the Secretary and the Secretary of Education to disseminate information about the availability and functions of the Ombudsman to borrowers, potential borrowers, and other participants in private education and federal student loan programs. Directs the Ombudsman to: (1) receive, review, and attempt to resolve informally complaints from borrowers of private education loans, in accordance with the Secretary's regulations; (2) establish a memorandum of understanding with the student loan ombudsman established under the Higher Education Act of 1965 to coordinate the provision of assistance to borrowers seeking to resolve complaints related to their private education or federal student loans; and (3) compile and analyze data on borrower complaints regarding private education loans.

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Timeline

1. 5 November 2009

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 5 November 2009

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 5 November 2009 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 November 2009

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 November 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 November 2009

  Open at official source

Sponsors

• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Michael Bennet · D · Sponsor
• · sshr00 · Standing

Related records

No cross-record relationships stored yet.