,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #deaa  ,,in ,,the ,,house ,,of  
,,representatives  ,april #bi1 #bjad    
,mr4 ,bishop of ,new ,york 7for himself1
 ,mrs4 ,mc,carthy of ,new ,york1 ,mr4   
,hinojosa1 ,mr4 ,takano1 ,ms4 ,bonamici1
 ,mr4 ,conyers1 ,mr4 ,fattah1 ,mr4      
,cummings1 ,ms4 ,bass1 ,mr4 ,moran1 ,mr4
 ,welch1 and ,mr4 ,loebsack7 introduced 
the following bill2 which was referred  
to the ,committee on ,financial         
,services  ,a ,,bill  ,to amend the     
,truth in ,lending ,act to establish    
requirements for the treatment of a     
private education loan upon the death or
 bankruptcy of a cosigner of the loan4  
#a4 ,short title ,this ,act may be cited
 as the ,protecting ,students ,from     
,automatic ,default ,act of #bjad4  #b4 
,requirements for private educational   
lenders  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 following new subsection3  
7g7 ,death or bankruptcy of a cosigner  

on a private education loan  7#a7 ,in   
general ,notwithstanding any provision  
in a private education loan agreement1 a
 private educational lender shall       
immediately notify a borrower if1 upon  
receiving notification of the death or  
bankruptcy of a cosigner who is jointly 
liable for the private education loan1  
such lender deems the borrower to be in 
default1 changes the terms of the loan1 
or accelerates the repayment terms of   
the loan4  7#b7 ,new cosigner ,a private
 educational lender shall provide a     
period of time of not less than #ij     
days1 beginning on the date such lender 
issues the notification described in    
subsection 7a71 for a borrower to       
identify a new cosigner for the loan4   
,such lender shall retain the right to  
renegotiate loan terms based on the     
creditworthiness of the new cosigner4  4
  7b7 ,rule of construction ,the        
amendments made by this ,act shall apply
 to any private education loan          
agreements in existence on the date of  

enactment of this ,act or entered into  
after the date of enactment of this     
,act4