News

California inches closer to unprecedented ‘Student Borrower Bill Of Rights’ - Yahoo Finance

Future student loan borrowers in the Golden State may be getting their own bill of rights.  On Tuesday, the California assembly passed the “Student Borrower Bill of Rights,” or AB376, aimed at creating the first detailed set of rules protecting those holding student debt in the U.S.  The legislation passed with an initial vote of 59 to 15 and now awaits passage through Senate committees and eventually a floor vote.  Mike Pierce, Policy Director and Managing Counsel at the Student Borrower Protection Center (SBPC), which co-sponsored the bill with others, told Yahoo Finance that "the full Senate must pass the bill no later than September [13]" to make it to California Governor Gavin Newsom's desk for his final signature before the end of the year.

Back to News »