,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #dede  ,,in ,,the ,,house ,,of  
,,representatives  ,september #bg1      
#bjai,ms4 ,dean introduced the following
 bill2 which was referred to the        
,committee on ,financial ,services1 and 
in addition to the ,committee on ,ways  
and ,means1 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 provide for the discharge
 of a private education loan in the case
 of death or total and permanent        
disability of a student obligor1 and for
 other purposes4  #a4 ,short title ,this
 ,act may be cited as the ,private ,loan
 ,disability ,discharge ,act of #bjai4  
#b4 ,protections for obligors and       
cosigners in cases of death or total and
 permanent disability  7a7 ,in general  
,section #adj7;g7 of the ,truth in      
,lending ,act 7#ae ,u4,s4,c4 #afej7 is  
amended--  7#a7 in paragraph 7#b7-- 7,a7

 in the heading1 by striking in case of 
death of borrower2  7,b7 in subparagraph
 7,a71 by inserting after of the death1 
the following3 or total and permanent   
disability2 and  7,c7 in subparagraph   
7,c71 by inserting after of the death1  
the following3 or total and permanent   
disability2 and  7#b7 by adding at the  
end the following3  7#c7 ,discharge in  
case of death or total and permanent    
disability of borrower ,the holder of a 
private education loan shall1 when      
notified of the death or total and      
permanent disability of a student       
obligor1 discharge the liability of the 
student obligor on the loan and may not1
 after such notification--  7,a7 attempt
 to collect on the outstanding liability
 of the student obligor2 and  7,b7 in   
the case of total and permanent         
disability1 monitor the disability      
status of the student obligor at any    
point after the date of discharge4  7#d7
 ,total and permanent disability defined
 ,for the purposes of this subsection   

and with respect to an individual1 the  
term total and permanent disability     
means the individual is totally and     
permanently disabled1 as such term is   
defined in section #fhe4ajb7;b7 of title
 #cd of the ,code of ,federal           
,regulations4  7#e7 ,private discharge  
in cases of certain discharge for death 
or disability ,the holder of a private  
education loan shall1 when notified of  
the discharge of liability of a student 
obligor on a loan described under       
section #ajh7;f77#e77;,a7 of the        
,internal ,revenue ,code of #aihf1      
discharge any liability of the student  
obligor 7and any cosigner7 on any       
private education loan which the private
 education loan holder holds and may    
not1 after such notification--  7,a7    
attempt to collect on the outstanding   
liability of the student obligor2 and   
7,b7 in the case of total and permanent 
disability1 monitor the disability      
status of the student obligor at any    
point after the date of discharge4  4   

7b7 ,tax liability ,section             
#ajh7;f77#e77;,a7 of the ,internal      
,revenue ,code of #aihf 7#bf ,u4,s4,c4  
#ajh7;f77#e77;,a77 is amended-- 7#a7 by 
striking 1 and before ,january #a1      
#bjbf2  7#b7 in clause 7ii71 by striking
 or2  7#c7 by redesignating clause 7iii7
 as clause 7iv72 and  7#d7 by inserting 
after clause 7ii7 the following3  7iii7 
pursuant to paragraph 7#c7 or 7#e7 of   
section #adj7;g7 of the ,truth in       
,lending ,act1 or  4  7c7 ,rulemaking   
,the ,director of the ,bureau of        
,consumer ,financial ,protection may    
issue rules to implement the amendments 
made by subsection 7a7 as the ,director 
determines appropriate4  7d7 ,effective 
date ,the amendments made by this       
section shall take effect #a year after 
the date of the enactment of this ,act4