New York 2025 Session Status: Passed Senate

S5598 — Relates to protections for private education loan borrowers and cosigners

Last action — Passed Assembly

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has passed the Senate. Introduced February 25, 2025. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the Assembly.

Prognosis

Stalled 26% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Passed Senate

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill establishes protections for private education loan borrowers and their cosigners.

This legislation requires creditors and debt collectors to provide specific notifications to private education loan borrowers and their cosigners. It also prohibits loan acceleration and includes provisions for the release of cosigners from obligations.

What this means for you
  • Families: Families assisting students with loans may benefit from the ability to release cosigners from financial obligations.
  • Consumers: Consumers borrowing private education loans will have clearer notifications and protections regarding their loans.

Summary

Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.

Bill Text

Action History

  1. RETURNED TO SENATE

  2. PASSED ASSEMBLY

  3. ORDERED TO THIRD READING RULES CAL.336

  4. SUBSTITUTED FOR A4922C

  5. REFERRED TO WAYS AND MEANS

  6. RETURNED TO ASSEMBLY

  7. REPASSED SENATE

  8. AMENDED ON THIRD READING 5598B

  9. VOTE RECONSIDERED - RESTORED TO THIRD READING

  10. RETURNED TO SENATE

  11. RECALLED FROM ASSEMBLY

  12. REFERRED TO CODES

  13. DELIVERED TO ASSEMBLY

  14. PASSED SENATE

  15. ADVANCED TO THIRD READING

  16. 2ND REPORT CAL.

  17. 1ST REPORT CAL.543

  18. PRINT NUMBER 5598A

  19. AMEND AND RECOMMIT TO CONSUMER PROTECTION

  20. REFERRED TO CONSUMER PROTECTION

  21. RETURNED TO SENATE

  22. DIED IN ASSEMBLY

  23. REFERRED TO CONSUMER AFFAIRS AND PROTECTION

  24. DELIVERED TO ASSEMBLY

  25. PASSED SENATE

  26. ADVANCED TO THIRD READING

  27. 2ND REPORT CAL.

  28. 1ST REPORT CAL.945

  29. REFERRED TO CONSUMER PROTECTION

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

Show all 218 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S5598 do?
Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.
Who sponsors S5598?
S5598 is sponsored by Rachel May.
What is the current status of S5598?
This bill has passed the Senate. Introduced February 25, 2025. It now moves to the second chamber.
Where can I track S5598?
Track S5598 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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