,,ii  #aacth ,,congress  #ast ,session  
,s4 #aggc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,november #ba1 
#bjac,mr4 ,schumer introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,health1 
,education1 ,labor1 and ,pensions  ,a   
,,bill  ,to amend the ,truth in ,lending
 ,act to provide for the discharge of   
student loan obligations upon the death 
or disability of the student borrower1  
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,andrew ,prior ,act or ,andrew's ,law4  
#b4 ,discharge of private student loans 
,section #abh7;e7 of the ,truth in      
,lending ,act 7#ae ,u4,s4,c4 #afch7;e77 
is amended by adding at the end the     
following3  7#ab7 ,discharge of private 
educational loans in the event of the   
death of the borrower  7,a7 ,definitions
 ,as used in this paragraph-- 7i7 the   
term cosigner-- 7,i7 means any          
individual who is liable for the        
obligation of another without           

compensation1 regardless of how         
designated in the contract or instrument
 relating to the obligation2  7,,ii7    
includes any person whose signature is  
requested as a condition to grant credit
 or to forbear on collection2 and       
7,,iii7 does not include a spouse of an 
individual referred to in subclause 7,i7
 whose signature is needed to perfect   
the security interest in the loan2  7ii7
 the term private educational lender has
 the same meaning as in section #adj2   
7iii7 the term private education loan   
has the same meaning as in section #adj2
 and  7iv7 the term totally and         
permanently disabled means-- 7,i7 with  
respect to a person other than a        
veteran1 that the person is unable to   
engage in any substantial gainful       
activity because of a medically         
determinable physical or mental         
impairment that-- 7aa7 can be expected  
to result in death2  7bb7 has lasted for
 a continuous period of not less than   
#fj months2 or  7cc7 can be expected to 

last for a continuous period of not less
 than #fj months2 and  7,,ii7 in the    
case of a veteran 7as that term is      
defined in section #aja of title #ch1   
,united ,states ,code71 a determination 
from the ,secretary of ,veterans        
,affairs that-- 7aa7 such person has a  
service-connected disability or         
service-connected disabilities that are 
#ajj percent disabling2 or  7bb7 such   
person is totally disabled1 based on an 
,individual ,unemployability            
determination by the ,secretary of      
,veterans ,affairs4  7,b7 ,private      
educational loans discharged ,in the    
event of the death of a borrower of a   
private educational loan1 or if the     
borrower of a private educational loan  
is totally and permanently disabled1    
neither the estate of the borrower nor  
any cosigner of such private educational
 loan shall be obligated to repay the   
outstanding principal or interest on the
 loan4  7,c7 ,limitations ,the ,bureau--
 7i7 shall develop such safeguards as   

may be necessary and appropriate to     
prevent fraud and abuse in the discharge
 of liability under this subsection2 and
  7ii7 notwithstanding any other        
provision of this subsection1 may       
promulgate regulations to reinstate the 
obligation of loans discharged under    
this subsection in any case in which the
 ,director determines necessary to      
protect the public interest4  4  #c4    
,regulations ,the ,director of the      
,bureau of ,consumer ,financial         
,protection may issue such regulations  
as may be necessary and appropriate to  
carry out this ,act4