New bill will help indebted students
By Thunderworld Staff
Senate Bill 6029 is stepping up for students that take out loans during college.
The bill just passed the Legislature and, if signed off by Governor Jay Inslee, the bill will manifest in many ways.
A key part of the bill is that you will have access to a student loan advocate or advocates to help with educational loans, at no additional costs to you.
These experts have a lot of responsibilities to uphold and will work in collaboration with the Attorney General's office to complete them. One of their duties is to get your student loan information, analyze it, and inform you of your rights on the matter and the debtors responsibilities by law.
Another responsibility of the advocate is to provide information to the public, agencies, legislators, and others regarding the problems and concerns of student education loan borrowers and make recommendations for resolving those problems and concerns, according to the bill. This basically means that advocates will provide solutions to the public regarding all that they have encountered.
This will make their expertise and advising on those issues accessible to anyone who may be dealing with similar conditions.
The advocates also must pay attention to the development and implementation of federal, state, and local laws, rules, regulations, and policies relating to student education loan borrowers and recommend any changes the student loan advocate deems necessary, according to the bill. This makes the loan repayment road easier for student, as it adds more people paying attention to legislative laws that are looking out for your best interest.
To keep their job, student loan advocates must assess the number of residents with federal student education loans who have applied for, received, or are awaiting a decision on forgiveness or discharge of a student education loan on an annual basis, when they have the data. This could potentially hold Federal Student Aid accountable for their efficiency and rectitude during the process.
The advocate will have to take any action reasonably calculated or intended to assist student education loan borrowers, including providing assistance applying for forgiveness or discharge of a student education loan and communicating with a student education loan servicer to resolve a complaint received by the advocate from a student education loan borrower. This means the advocate is required to take the actions necessary to fulfill all of the prior duties.
It is also mandated that this all has to be done in a timely manner.
In addition to providing an advocate, this bill will also address issues relating to: troubles in communication, accuracy of information given and received, harassing behavior by debt collectors, and the misuse of your payments. This is in an effort to ensure that student loan borrowers, are treated fairly as they pay off their debt.
This is amazing, and might lead to the passing of more regulations that hold debt collectors accountable to the fact that, people are people even if they owe you money.