,,ii  #aae? ,,congress  #a/ ,session    
,s4 #bahj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #cj1 #bjag,mr4
 ,m55dez 7= himself1 ,ms4 ,w>r51 ,mr4   
,book]1 & ,mrs4 ,gillibr&7 introduc$ !  
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,heal?1 ,education1  
,labor1 & ,p5sions  ,a ,,bill  ,to      
e/abli% additional protections &        
disclosures = /ud5ts & co-sign]s )      
respect to /ud5t loans1 & = o!r         
purposes4  #a4 ,%ort title2 f9d+s  7a7  
,%ort title ,?is ,act may be cit$ z !   
,*ri/oph] ,bryski ,/ud5t ,loan          
,protection ,act or ,*ri/oph]'s ,law4   
7b7 ,f9d+s ,congress f9ds ! foll[+3     
7#a7 ,! ,bureau ( ,consum] ,f9ancial    
,protection 7ref]r$ to 9 ?is section z !
 ,,cfpb7 ,/ud5t ,loan ,ombudsman /at$ ! 
foll[+3 7,a7 ,! ,,cfpb receiv$ m ?an    
#g1gjj private /ud5t loan compla9ts &   
approximately #b1cjj debt collection    
compla9ts relat$ to /ud5t loans betwe5  
,septemb] #a1 #bjaf1 & ,augu/ #ca1      
#bjag44  7,b7 ,co-sign]s compla9 t      

in=mation ab\t dis*>ge or alt]native    
arrangem5ts 9 ! case ( dea? ( ! prim>y  
borr[] is n readily available & t       
decisions are made on a case-by-case    
basis1 giv+ co-sign]s little und]/&+ (  
h[ ! process works1 or if !y w be       
successful44  7,c7 ,! compla9ts & input 
receiv$ by ! ,,cfpb resemble _m ( ! same
 issues exp]i5c$ by mortgage borr[]s1   
su* z improp] application ( paym5ts1    
untimel9ess 9 error resolution1 &       
inability to contact appropriate        
p]sonnel 9 times ( h>d%ip44  7,d7 ,!    
diff]5ce betwe5 ,f$]al & private /ud5t  
loans 9 p]iods ( disability 0 n         
well-und]/ood44  7#b7 ,an e/imat$       
#b1ejj1jjj individuals su/a9 a traumatic
 bra9 injury ea* ye> & old] adolesc5ts  
betwe5 #ae & #ai ye>s ( age are m likely
 to su/a9 a traumatic bra9 injury ?an   
individuals 9 o!r age gr\ps4  7#c7 ,x   
has be5 e/imat$ t ! annual incid5ce (   
sp9al cord injury1 n includ+ ^?         
individuals :o die at ! sc5e ( an       
accid5t1 is approximately #ed cases p]  

#a1jjj1jjj individuals 9 ! ,unit$       
,/ates1 or approximately #ag1jjj new    
cases ea* ye>4 ,^! injuries c lead to   
p]man5t disability or loss ( movem5t & c
 prohibit ! victim f engag+ 9 any       
sub/antial ga9ful activity4  7#d7       
,accord+ to ! ,,cfpb1 m ?an #ij p]c5t ( 
new private /ud5t loans are co-sign$4   
7#e7 ,accord+ to ! ,,cfpb1 private /ud5t
 loan companies provide co-sign] release
 to less ?an #a p]c5t ( eligible        
borr[]s4  #b4 ,additional /ud5t loan    
protections  7a7 ,9 g5]al ,section #adj 
( ! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4   
#afej7 is am5d$ by add+ at ! end !      
foll[+3  7g7 ,additional protections    
relat+ to borr[] or co-,sign] ( a       
private education loan  7#a7 ,cle> &    
conspicu\s description ( obligation (   
borr[] & co-sign] ,9 ! case ( any       
private educational l5d] t provides a   
private education loan1 ! l5d] %all     
cle>ly & conspicu\sly describe1 9 writ+1
 ! obligations ( a co-sign] ) respect to
 ! loan1 includ+ ! effect t ! dea?1     

disability1 or inability to engage 9 any
 sub/antial ga9ful activity ( ! borr[]  
or any co-sign] w\ld h on any su*       
obligation1 9 language t ! ,bureau      
det]m9es w\ld give a reasonable p]son a 
reasonable und]/&+ ( ! obligation be+   
assum$ by becom+ a co-sign] = ! loan4   
7#b7 ,prohibition on automatic default )
 respect to a p]=m+ loan  7,a7 ,dea?1   
disability1 or bankruptcy ( co-sign] ,if
 a private education loan includes a    
co-sign]1 a private educational l5d] may
 n take any adv]se action 7includ+      
decl>+ a default1 accel]at+ any loan    
obligation1 increas+ ! int]e/ rate1 or  
alt]+ any obligations "u ! private      
education loan 9 a way t is adv]se to ! 
borr[]7 aga9/ ! borr[] bas$ on--  7i7 ! 
dea?1 disability1 or inability to engage
 9 any sub/antial ga9ful activity ( !   
co-sign]2 or  7ii7 ! bankruptcy ( !     
co-sign]4  7,b7 ,dea?1 disability1 or   
bankruptcy ( borr[] ,if a private       
education loan includes a co-sign]1 a   
private educational l5d] may n take any 

adv]se action 7includ+ decl>+ a default1
 accel]at+ any loan obligation1 increas+
 ! int]e/ rate1 or alt]+ any obligations
 "u ! private education loan 9 a way t  
is adv]se to any co-sign]7 aga9/ !      
co-sign] bas$ on--  7i7 ! dea?1         
disability1 or inability to engage 9 any
 sub/antial ga9ful activity ( ! borr[]2 
or  7ii7 ! bankruptcy ( ! borr[]4  7#c7 
,co-sign] release  7,a7 ,requirem5ts =  
automatic release ( co-sign]  7i7       
,crit]ia e/abli%$ by ! ,bureau ,n lat]  
?an #ahj days aft] ! date ( enactm5t (  
?is subsection1 ! ,bureau %all e/abli%  
crit]ia1 :i*1 if met by ! borr[] ( a    
private education loan1 %all require !  
private educational l5d] ) respect to1  
or s]vic] (1 ! private education loan1 z
 applicable1 to promptly release any    
co-sign] f ! obligations ( ! co-sign] "u
 ! loan )\t requir+ any action on behalf
 ( ! borr[]4  7ii7 ,crit]ia e/abli%$ by 
l5d] ,a private educational l5d] may    
e/abli% crit]ia = automatic release t   
are diff]5t f ! crit]ia describ$ 9      

clause 7i7 if ! crit]ia e/abli%$ by !   
l5d] are n m re/rictive ) respect to !  
borr[] or any co-sign] ( ! private      
education loan ?an ! crit]ia e/abli%$ "u
 clause 7i74  7,b7 ,disclosure ( crit]ia
 = co-sign] release ,a private          
educational l5d] %all-- 7i7 include 9 ! 
promissory note ( a private education   
loan ! crit]ia "u :i* a co-sign] may be 
releas$ f ! obligation ( ! co-sign] "u a
 private education loan "u ?is p>agraph2
 &  7ii7 disclose to ! borr[] & any     
co-sign] at ! "t ! private education    
loan is consummat$1 cle>ly &            
conspicu\sly1 ! crit]ia "u :i* a        
co-sign] may be releas$ f ! obligation (
 ! co-sign] "u a private education loan4
  7,c7 ,modifications to crit]ia ,if a  
private education loan has a co-sign]1 !
 private educational l5d] ) respect to1 
or s]vic] (1 ! private education loan1 z
 applicable1 may n modify ! crit]ia "u  
:i* ! co-sign] may be releas$ f !       
obligation ( ! co-sign] "u ! private    
education loan )\t ! cons5t ( ! borr[] &

 ! co-sign] if ! modification w\ld be   
adv]se to ! borr[]4  7,d7 ,notification 
on release ,a private educational l5d] )
 respect to1 or s]vic] (1 a private     
education loan1 z applicable1 %all      
promptly notify ! borr[] & any co-sign]s
 = ! private education loan if a        
co-sign] is releas$ f ! obligations ( ! 
co-sign] "u ! private education loan "u 
?is p>agraph4  7,e7 ,modification (     
evaluation ( cr$itwor?9ess1 cr$it /&+1  
or cr$it capacity ,9 det]m9+ :e!r !     
crit]ia = a co-sign] release are met1 a 
private educational l5d] ) respect to1  
or s]vic] (1 a private education loan1 z
 applicable1 may n evaluate !           
cr$itwor?9ess1 cr$it /&+1 or cr$it      
capacity ( ! borr[] or a co-sign] ( !   
private education loan us+ a /&>d t w\ld
 be m adv]se to ! borr[] or co-sign]1 z 
applicable1 ?an ! /&>d ! private        
educational l5d] us$ to evaluate !      
cr$itwor?9ess1 cr$it /&+1 or cr$it      
capacity ( ! borr[] or co-sign] on !    
date on :i* ! private education loan 0  

consummat$4  7#d7 ,designation (        
individual to act on behalf ( ! borr[]  
,9 ! case ( any private educational l5d]
 t ext5ds a private education loan1 !   
l5d] %all provide ! borr[] an option to 
designate an individual to h ! legal    
au?ority to act on behalf ( ! borr[] )  
respect to ! private education loan 9 ! 
ev5t ( ! dea?1 disability1 or inability 
to engage 9 any sub/antial ga9ful       
activity ( ! borr[]4  7#e7 ,c\nsel+ ,9 !
 case ( any private educational l5d] t  
ext5ds a private education loan1 ! l5d] 
%all ensure t ! borr[]1 & any co-sign]1 
receives compreh5sive in=mation on !    
t]ms & conditions ( ! loan & ( !        
responsibilities ! borr[] has ) respect 
to ! loan1 includ+ ! in=mation requir$  
"u subp>agraphs 7,h71 7,i71 7,k71 7,l71 
7,m71 & 7,n7 ( section #dhe7l77#b7 ( !  
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajib7l77#b774  7#f7 ,model =m
 ,! ,bureau %all publi% a model =m "u   
section #aje = describ+ ! obligation ( a
 co-sign] = ! purposes ( p>agraph 7#a74 

7#g7 ,def9ition ( dea?1 disability1 or  
inability to engage 9 any sub/antial    
ga9ful activity ,= ! purposes ( ?is     
subsection ) respect to a borr[] or     
co-sign]1 ! t]m dea?1 disability1 or    
inability to engage 9 any sub/antial    
ga9ful activity--  7,a7 means any       
condition describ$ 9 section #dcg7;a7 ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajhg7;a772 &  7,b7 %all be   
int]pret$ by ! ,bureau 9 su* a mann] z  
to con=m ) ! regulations prescrib$ by ! 
,secret>y ( ,education "u section       
#dcg7;a7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajhg7;a77 to !    
fulle/ ext5t practicable1 includ+       
safegu>ds to prev5t fraud & abuse4  4   
7b7 ,def9itions ,section #adj7;a7 ( !   
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afej7;a77 is am5d$--  7#a7 by          
r$esignat+ p>agraphs 7#a7 ?r\gh 7#h7 z  
p>agraphs 7#b7 ?r\gh 7#i71 respectively2
 &  7#b7 by ins]t+ be=e p>agraph 7#b71 z
 s r$esignat$1 ! foll[+3  7#a7 ! t]m    
co-sign]-- 7,a7 means any individual :o 

is liable = ! obligation ( ano!r )\t    
comp5sation1 reg>dless ( h[ designat$ 9 
! contract or in/rum5t ) respect to t   
obligation2  7,b7 includes any p]son !  
signature ( :i* is reque/$ z condition  
to grant cr$it or to =be> on collection2
 &  7,c7 does n include a sp\se ( an    
individual describ$ 9 subp>agraph 7,a71 
! signature ( :om is ne$$ to p]fect !   
security int]e/ 9 a loan2  4  7c7       
,rulemak+ ,n lat] ?an #a ye> aft] ! date
 ( enactm5t ( ?is ,act1 ! ,bureau (     
,consum] ,f9ancial ,protection %all     
issue regulations to c>ry out subsection
 7g7 ( section #adj ( ! ,tru? 9 ,l5d+   
,act 7#ae ,u4,s4,c4 #afej71 z add$ by   
p>agraph 7#a74  #c4 ,f$]al /ud5t loans  
7a7 ,c\nsel+ in=mation ,section         
#dhe7l77#b7 ( ! ,high] ,education ,act (
 #aife 7#bj ,u4,s4,c4 #ajib7l77#b77 is  
am5d$ by add+ at ! end ! foll[+3  7,l7  
,in=mation reg>d+ ! conditions requir$  
to dis*>ge ! loan due to ! dea?1        
disability1 or inability to engage 9 any
 sub/antial ga9ful activity ( ! borr[] 9

 accordance ) section #dcg7;a74  7,m7   
,any repaym5t1 ref9ance1 def]m5t1       
=be>ance1 or =giv5ess opportunities     
available to ! borr[] or co-sign] 9 !   
ev5t ( ! dea?1 disability1 or inability 
to engage 9 any sub/antial ga9ful       
activity ( ! borr[] or co-sign]4  7,n7  
,! effect t ! dea?1 disability1 or      
inability to engage 9 any sub/antial    
ga9ful activity ( ! borr[] w\ld h on !  
obligations ( ! borr[] & any co-sign] ( 
! loan4  4  7b7 ,designation (          
individual ,to act on behalf ( ! borr[] 
,section #dhd ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajia7 is       
am5d$--  7#a7 9 subsection 7a71 by /rik+
 p>agraph 7#d7 & ins]t+ ! foll[+3  7#d7 
file ) ! ,secret>y1 z "p ( ! orig9al    
f9ancial aid application process1 a     
c]tification1 :i* ne$ n be not>iz$1 b   
:i*--  7,a7 %all include-- 7i7 a /atem5t
 ( educational purpose /at+ t ! money   
attributable to su* grant1 loan1 or loan
 gu>antee w be us$ solely = exp5ses     
relat$ to att5dance or cont9u$ att5dance

 at su* in/itution2 &  7ii7 su* /ud5t's 
social security numb]2 &  7,b7 may      
include a designation by su* /ud5t ( an 
individual :o %all h ! legal au?ority to
 act on behalf ( ! /ud5t ) respect to   
any loan to ! /ud5t "u ?is title 9 !    
ev5t ( ! /ud5t's dea?1 disability1 or   
inability to engage 9 any sub/antial    
ga9ful activity2  2 &  7#b7 by add+ at !
 end ! foll[+3  7u7 ,option ,to         
designate individual ,to act on behalf (
 ! borr[] 9 cle> & conspicu\s mann] ,!  
option = a /ud5t to make a designation  
describ$ 9 subsection 7a77#d77;,b7 %all 
be provid$ 9 a cle> & conspicu\s mann]  
to ! /ud5t4  4  #d4 ,rule ( con/ruction 
,no?+ 9 ?is ,act1 or any am5dm5t made by
 ?is ,act1 may be con/ru$ to adv]sely   
affect ! eligibility ( a /ud5t to       
receive any grant1 loan1 or "w assi/ance
 "u "p ,c or "p ,g ( title ,,iv ( !     
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg-ea et seq4 & #bj        
,u4,s4,c4 #ajhh et seq47 bas$ on a      
designation1 or ! lack ( a designation1 

"u section #dhd7;a77#d77;,b7 ( t ,act   
7#bj ,u4,s4,c4 #ajia7;a77#d77;,b771 z   
add$ by section #c7;b77#a74