HR 2961 — Christopher Bryski Student Loan Protection Act

1 sponsors · 0 co-sponsors · 546 not signed on

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Frequently asked questions

What does HR 2961 do?

Christopher Bryski Student Loan Protection Act or Christopher's Law - Amends the Truth in Lending Act to require lenders of private education loans to: describe clearly and conspicuously, in writing, the cosigners' obligations regarding such loans, including the effect a borrower's or cosigner's death, disability, or inability to engage in any substantial gainful activity would have on such obligations; require the borrower to designate an individual to have the legal authority to act on behalf of the borrower in the event of the borrower's death, disability, or inability to engage in any substantial gainful activity; and ensure that the borrower, and any cosigner, receives comprehensive information on the loan's terms and conditions and the borrower's responsibilities with respect to such loan. Directs the Consumer Financial Protection Bureau (CFPB) to publish a model form for describing a cosigner's obligations regarding private education loans. Amends the Higher Education Act of 1965 (HEA) to require institutions of higher education to provide borrowers of federal education loans information at their entrance counseling on: the effect their death, disability, or inability to engage in any substantial gainful activity would have on their federal and private education loans; any repayment, refinance, deferment, forbearance, or forgiveness opportunities available to the borrower, or cosigner, in the event of either individual's death, disability, or inability to engage in any substantial gainful activity; and the effect their death, disability, or inability to engage in any substantial gainful activity would have on their obligations and any cosigner's obligations with respect to the loan. Requires students applying for federal education loans to designate an individual who is to have the legal authority to act on their behalf with respect to such a loan in the event of their death, disability, or inability to engage in any substantial gainful activity.

Who sponsors HR 2961?

HR 2961 is sponsored by Bill Pascrell (D).

What is the current status of HR 2961?

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track HR 2961?

Track HR 2961 free on One Click Politics — get push/email alerts when it moves.