,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #bifa  ,,in ,,the ,,house ,,of  
,,representatives  ,august #a1 #bjac    
,mr4 ,pascrell 7for himself and ,mr4    
,runyan7 introduced the following bill2 
which was referred to the ,committee on 
,financial ,services1 and in addition to
 the ,committee on ,education and the   
,workforce1 for a period to be          
subsequently determined by the ,speaker1
 in each case for consideration of such 
provisions as fall within the           
jurisdiction of the committee concerned 
,a ,,bill  ,to amend the ,truth in      
,lending ,act and the ,higher ,education
 ,act of #aife to require additional    
disclosures and protections for students
 and cosigners with respect to student  
loans1 and for other purposes4  #a4     
,short title2 ,findings  7a7 ,short     
title ,this ,act may be cited as the    
,christopher ,bryski ,student ,loan     
,protection ,act or ,christopher's ,law4
  7b7 ,findings ,congress finds the     
following3  7#a7 ,no requirement exists 

for private educational lenders'        
promissory notes to include a clear and 
conspicuous description of the          
responsibilities of a borrower and      
cosigner in the event the borrower or   
cosigner becomes disabled1              
incapacitated1 or dies4  7#b7 ,according
 to the ,annual ,report of the ,bureau  
of ,consumer ,financial ,protection     
7,,cfpb7 ,student ,loan ,ombudsman1     
dated ,october #af1 #bjab3  7,a7 ,in    
less than seven months1 the ,,cfpb has  
handled approximately #b1ijj private    
student loan complaints44  7,b7         
,co-signers complain that information   
about discharge or alternative          
arrangements in the case of death of the
 primary borrower is not readily        
available and that decisions are made on
 a case-by-case basis1 giving co-signers
 little understanding of how the process
 works1 or if they will be successful44 
7,c7 ,the complaints and input received 
by the ,,cfpb resemble many of the same 
issues experienced by mortgage          

borrowers1 such as improper application 
of payments1 untimeliness in error      
resolution1 and inability to contact    
appropriate personnel in times of       
hardship44  7,d7 ,the difference between
 federal and private student loans in   
periods of disability was not           
well-understood44  7,e7 ,there are at   
least #h billion of private student     
loans in default1 representing more than
 #hej1jjj individual loans44  7,f7      
,while lenders do provide the terms of  
agreement in promissory notes1 including
 associated benefits and protections1   
many borrowers state they were unaware  
of the categorical differences between  
federal and private protections44  7#c7 
,no requirement exists for a private    
education loan borrower to designate an 
alternate point of contact on their     
account in the event of their death or  
permanent disability4  7#d7 ,an         
estimated #a1gjj1jjj people sustain a   
traumatic brain injury each year1 with  
older adolescents aged #ae to #ai years 

old more likely to sustain a traumatic  
brain injury than other age groups4     
7#e7 ,it has been estimated that the    
annual incidence of spinal cord injury1 
not including those who die at the scene
 of an accident1 is approximately #dj   
cases per #a1jjj1jjj people in the      
,united ,states or approximately #ab1jjj
 new cases each year4 ,these injuries   
can lead to permanent disability or loss
 of movement and can prohibit the victim
 from engaging in any substantial       
gainful activity4  7#f7 ,in the         
#bjjg-bjjh academic year1 #ac percent of
 students attending a #d-year public    
institution of higher education1 and    
#bf4b percent of students attending a   
#d-year private institution of higher   
education1 borrowed monies from private 
educational lenders4  7#g7 ,according to
 ,sallie ,mae1 in #bjji1 the percentage 
of cosigned private education loans     
increased from #ff percent to #hd       
percent of all private education loans4 
#b4 ,additional student loan protections

  7a7 ,in general ,section #adj of the  
,truth in ,lending ,act 7#ae ,u4,s4,c4  
#afej7 is amended by adding at the end  
the following3  7g7 ,additional         
protections relating to death or        
disability of borrower or cosigner of a 
private education loan  7#a7 ,clear and 
conspicuous description of borrower's   
and cosigner's obligation ,in the case  
of any private educational lender who   
extends a private education loan1 the   
lender shall clearly and conspicuously  
describe1 in writing1 the cosigner's    
obligations with respect to the loan1   
including the effect the death1         
disability1 or inability to engage in   
any substantial gainful activity of the 
borrower or any cosigner would have on  
any such obligation1 in language that   
the ,bureau determines would give a     
reasonable person a reasonable          
understanding of the obligation being   
assumed by becoming a cosigner for the  
loan4  7#b7 ,designation of individual  
to act on behalf of the borrower ,in the

 case of any private educational lender 
who extends a private education loan1   
the lender shall require the borrower to
 designate an individual to have the    
legal authority to act on behalf of the 
borrower with respect to the private    
education loan in the event of the      
borrower's death1 disability1 or        
inability to engage in any substantial  
gainful activity4  7#c7 ,counseling ,in 
the case of any private educational     
lender who extends a private education  
loan1 the lender shall ensure that the  
borrower1 and any cosigner1 receives    
comprehensive information on the terms  
and conditions of the loan and of the   
responsibilities the borrower has with  
respect to such loan1 including the     
information described under section     
#dhe7l77#b7 of the ,higher ,education   
,act of #aife 7#bj ,u4,s4,c4            
#ajib7l77#b774  7#d7 ,model form ,the   
,bureau shall publish a model form under
 section #aje for describing a          
cosigner's obligation for purposes of   

paragraph 7#a74  7#e7 ,definition of    
death1 disability1 or inability to      
engage in any substantial gainful       
activity ,for the purposes of this      
subsection with respect to a borrower or
 cosigner1 the term death1 disability1  
or inability to engage in any           
substantial gainful activity--  7,a7    
means any condition described in section
 #dcg7;a7 of the ,higher ,education ,act
 of #aife 7#bj ,u4,s4,c4 #ajhg7;a772 and
  7,b7 shall be interpreted by the      
,bureau in such a manner as to conform  
with the regulations prescribed by the  
,secretary of ,education under section  
#dcg7;a7 of such ,act 7#bj ,u4,s4,c4    
#ajhg7;a77 to the fullest extent        
practicable1 including safeguards to    
prevent fraud and abuse4  4  7b7        
,definitions ,subsection 7a7 of section 
#adj of the ,truth in ,lending ,act 7#ae
 ,u4,s4,c4 #afej7;a77 is amended--  7#a7
 by redesignating paragraphs 7#a7       
through 7#h7 as paragraphs 7#b7 through 
7#i71 respectively2 and  7#b7 by        

inserting before paragraph 7#b7 7as     
redesignated by paragraph 7#a77 the     
following3  7#a7 the term cosigner--    
7,a7 means any individual who is liable 
for the obligation of another without   
compensation1 regardless of how         
designated in the contract or           
instrument2  7,b7 includes any person   
whose signature is requested as         
condition to grant credit or to forbear 
on collection2 and  7,c7 does not       
include a spouse of an individual       
referred to in subparagraph 7,a7 whose  
signature is needed to perfect the      
security interest in the loan2  4  7c7  
,rulemaking ,not later than the end of  
the #a-year period following the date of
 the enactment of this ,act1 the ,bureau
 of ,consumer ,financial ,protection    
shall issue regulations to carry out    
section #adj7;g7 of the ,truth in       
,lending ,act4  #c4 ,federal student    
loans  7a7 ,counseling information      
,section #dhe7l77#b7 of the ,higher     
,education ,act of #aife 7#bj ,u4,s4,c4 

#ajib7l77#b77 is amended by adding at   
the end the following3  7,l7            
,information on the conditions required 
to discharge the loan due to the death1 
disability1 or inability to engage in   
any substantial gainful activity of the 
borrower in accordance with section     
#dcg7;a71 and an explanation that1 in   
the case of a private education loan    
made through a private educational      
lender 7as such terms are defined in    
section #adj of the ,truth in ,lending  
,act 7#ae ,u4,s4,c4 #afej771 the        
borrower1 the borrower's estate1 and any
 cosigner of such a private education   
loan may be obligated to repay the full 
amount of the loan1 regardless of the   
death or disability of the borrower or  
any other condition described in section
 #dcg7;a74  7,m7 ,any repayment1        
refinance1 deferment1 forbearance1 or   
forgiveness opportunities available to  
the borrower1 or cosigner1 in the event 
of either individual's death1           
disability1 or inability to engage in   

any substantial gainful activity4  7,n7 
,the effect that the death1 disability1 
or inability to engage in any           
substantial gainful activity of the     
borrower would have on the obligations  
of the borrower and any cosigner of the 
loan4  4  7b7 ,designation of individual
 ,to act on behalf of the borrower      
,section #dhd7;a77#d7 of the ,higher    
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajia7;a77#d77 is amended--  7#a7 in    
subparagraph 7,a71 by striking and after
 the semicolon2  7#b7 in subparagraph   
7,b71 by inserting and after the        
semicolon2 and  7#c7 by adding at the   
end the following new subparagraph3     
7,c7 a designation by such student of an
 individual who shall have the legal    
authority to act on behalf of the       
student with respect to any loan to the 
student under this title in the event of
 the student's death1 disability1 or    
inability to engage in any substantial  
gainful activity2  4