LOAN Act

Summary

Official

Lenders Offer Assistance Now Act or the LOAN Act This bill requires the discharge of a private education loan in the event of the student borrower's disability. Such a discharge is not considered income for tax or other purposes. Additionally, the bill prohibits the automatic default of a private education loan due to the disability of a loan cosigner. Furthermore, the...

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Bill Progress

Committee is reviewing, marking up, or holding hearings on the bill

Introduced(2/18/21)

Committee

Passed House

Passed Senate

President

Law