Senate Bill 3243
116th Congress(2019-2020)
Simplifying Access to Student Loan Information Act of 2020
Introduced
Introduced in Senate on Jan 28, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3243
Congress
116
Policy Area
Education
Education
Primary focus of measure is elementary, secondary, or higher education including special education and matters of academic performance, school administration, teaching, educational costs, and student aid.
No Senate votes have been held for this bill.
Summary
Simplifying Access to Student Loan Information Act of 2020
This bill expands the National Student Loan Data System (NSLDS) to include information about private education loans.
Specifically, the bill requires private educational lenders to submit to the NSLDS information regarding private education loans made to borrowers, including the outstanding balances and interest rates of such loans. Currently, only federal student loan information is available in the NSLDS.
The bill requires the Department of Education to
- ensure that a cosigner of a private education loan for which information is included in the NSLDS has access only to that information in a separate account,
- ensure that a private educational lender has access to the NSLDS only to submit information regarding the lender's loans, and
- establish a functionality within the NSLDS that enables a student borrower of federal student loans to input the information necessary to compare repayment plans.
January 28, 2020
01/28/2020
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
01/28/2020
Introduced in Senate
Public Record
Record Updated
Aug 10, 2022 11:29:20 PM