Ryan Frascone Memorial Student Loan Relief Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 16, 2020)
Ryan Frascone Memorial Student Loan Relief Act of 2020
This bill retroactively applies certain borrower protections related to cosigners of private student loans. Specifically, all private student loan agreements must (1) prohibit a creditor from declaring a default or accelerating the debt of a private student loan on the sole basis of the death or bankruptcy of a cosigner to such a loan, and (2) require loan holders to release cosigners from any obligation upon the death of the student borrower. Under current law, these protections apply only to private student loan agreements entered into on or after November 20, 2018.
What just happenedJul 16, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseJul 16, 2020
- Jul 16, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jul 16, 2020IntroReferralIntro-H
Introduced in House
- Jul 16, 2020IntroReferral1000
Introduced in House