Student Loan Legislation

This page is to inform you of both current and past legislation in the student loan arena. It will be limited to only laws directly impacting student loans, though there are many others on the books (such as collection laws and consumer protection laws) that can impact a student loan but are not student loan specific.

National Student Loan Legislative Updates

National Association of Student Financial Aid Administrators (NASAFF) Update Page

Washington State Specific

Washington State Attorney General Press Release Page

2018 Student Loan Bill of Rights

PDF Explanation
Senate Bill Page (SB 6029)
House Bill Page (HB 1440)
Explanation: This statute will:
1. Create a student loan advocate who works with the office of the Attorney General (WA) and Department of Financial Institutions
2. Require servicers to respond to requests for information promptly, in writing, and maintain a
  record of that communication
3. Require servicers to credit payments within one business day
4. Require servicers to provide borrowers notice when a loan transfers between servicers
5. Require servicers to refund fees assessed to the borrower from servicer error

2017 Student Loan Transparency Act

PDF Explanation
Senate Bill Page (SB 5022)
House Bill Page (HB 1057)
Explanation: This impacts disclosure requirements by disclosing the estimated total of loans, interest of loans, monthly payment, and percentage of federal loans borrowed.