H.R.5458 - Christopher's Law

To amend the Truth in Lending Act and the Higher Education Act of 1965 to require additional disclosures and protections for students and cosigners with respect to student loans, and for other purposes. view all titles (5)

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  • Short: Christopher's Law as passed house.
  • Short: Christopher Bryski Student Loan Protection Act as passed house.
  • Official: To amend the Truth in Lending Act and the Higher Education Act of 1965 to require additional disclosures and protections for students and cosigners with respect to student loans, and for other purposes. as introduced.
  • Short: Christopher Bryski Student Loan Protection Act as introduced.
  • Short: Christopher's Law as introduced.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
05/27/10
 
09/28/10
 
 
 
 
 

Official Bill Text Comment on about 7 Pages

Official Summary

9/28/2010--Passed House amended. Christopher Bryski Student Loan Protection Act and Christopher's Law - (Sec. 2) Amends the Truth in Lending Act to require institutions of higher education (IHEs) that provide student loan counseling to new borrowers and cosigners at the time of any st
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Official Summary

9/28/2010--Passed House amended. Christopher Bryski Student Loan Protection Act and Christopher's Law -

(Sec. 2)

Amends the Truth in Lending Act to require institutions of higher education (IHEs) that provide student loan counseling to new borrowers and cosigners at the time of any student loan application, origination, or consolidation, or at the time the cosigner assumes responsibility for repayment, to include information on creating a durable power of attorney for financial decisionmaking. Requires private educational lenders to provide borrowers and cosigners of student loans with that information at the time of loan application. Requires lenders of private educational loans for which cosigners are held jointly liable to describe clearly and conspicuously, in writing, the cosigners' obligations regarding such loans, including the effect a borrower's or cosigner's death, disability, or inability to engage in any substantial gainful activity would have on such obligations. Directs the Board of Governors of the Federal Reserve System to publish model forms for the information this Act requires to be provided regarding:
(1) the creation of a durable power of attorney; and
(2) a cosigner's obligation.

(Sec. 3)

Amends the Higher Education Act of 1965 to require IHEs to provide borrowers of federal educational loans information at their entrance counseling regarding:
(1) the effect their death, disability, or inability to engage in any substantial gainful activity would have on their federal and private educational loans; and
(2) their state's model form, published by the Board of Governors of the Federal Reserve System, for creating a durable power of attorney.

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Recent Blog Coverage

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12/31/10
House Passes Bill on Deceased Students' Private Student Loans

28 passed the Christopher Bryski Student Loan Protection Act (HR 5458), which would require lenders that issue private student loans to provide additional information to co-signers about their financial obligations on the student loans ...

Source: Student Loans
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12/28/10
House Passes Bill on Deceased Students' Private Student Loans

28 handed the Christopher Bryski Student Loan Safety Act (HR 5458), which would demand lenders that situation personal student loans to present further details to co-signers about their fiscal obligations on the pupil loans they ...

Source: travel insurance info
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12/15/10
House Passes Bill on Deceased Students' Private Student Loans

... Act (HR 5458), which would require lenders of private student loans subject to provide additional information to the co-signers of their financial obligations to the student loans co-signed after the death of the principal debtor. ...

Source: Private students loans
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