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Student Loans Ombudsman Licensing Rules

McGlinchey Stafford

Massachusetts Enacts Student Loan Servicer License Requirement

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On January 14, 2021, the governor of Massachusetts signed H 5250 into law, which includes a licensing requirement applicable to student loan servicers, and other requirements related to the regulation and supervision of...more

Hudson Cook, LLP

Regulation of Student Loan Servicers - Recent Enactments and a Look Ahead at Pending Legislation

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The May 2019 issue of Insights provided high-level background information about the recent trend of state legislation targeting student loan servicers. In the June 2019 issue of Insights, we took a deeper dive into New York's...more

Ballard Spahr LLP

New Jersey enacts licensing and other requirements for student loan servicers

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On July 30, 2019, Acting New Jersey Governor Sheila Oliver signed into law SB 1149, which requires student loan servicers to be licensed, creates an Office of the Student Loan Ombudsman within the NJ Department of Banking and...more

Ballard Spahr LLP

Illinois lawmakers override governor’s veto of student loan servicing bill

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The Illinois House of Representatives and Senate have voted to override the veto by the state’s Republican governor of Senate Bill 1351, known as the Illinois Student Loan Servicing Rights Act. ...more

Ballard Spahr LLP

Connecticut Enacts New Licensing Requirement and Prohibitions for Student Loan Servicers

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Connecticut’s new “An Act Concerning A Student Loan Bill of Rights” creates a licensing requirement for servicers of student loans made to state residents and imposes other significant new requirements and prohibitions on...more

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