Insurance Committee Overwhelmingly Approves Vitelli’s Bill to Curtail Predatory Student Loan Practices
The bill, "An Act to Establish a Student Loan Bill of Rights To License and Regulate Student Loan Servicers," is sponsored by Sen.
"If we're serious about retaining and attracting young people in our state, we need to address the student debt crisis that's already holding back a whole generation of young adults," said
Student loan debt has become one of the defining problems facing a generation of students and graduates in
Too many borrowers are faced with flat-out rejection when they seek refinancing or forgiveness through current programs. As a result, high payments and high-interest rates are crushing borrowers and leaving them no choice but to default or continue paying unsustainable amounts of money from their monthly budget. More than 3,800 complaints have been submitted to the
In January of last year, loan servicer
LD 1507 moves forward in the wake of claims made this week by
"Our state has a strong interest in protecting consumers from practices that are flat out unfair. Mainers should not wait for the federal government to take action," said
The bill -- which has been the subject of extensive work by
LD 1507 will go before the full Legislature in the coming weeks.
Legislative Update Issued by Minnesota State Rep. Lohmer
Getting to Health Equity: When Race No Longer Determines Health
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News