,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bdje  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ca1 #bjai,mr4   
,m55dez 7= himself1 ,mr4 ,book]1 ,ms4   
,w>r51 ,mr4 ,br[n1 & ,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 &    
cosign]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 cosign]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+ cosign]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$4   
7#e7 ,accord+ to ! ,,cfpb1 private /ud5t
 loan companies provide cosign] release 
to less ?an #a p]c5t ( eligible borr[]s4
  #b4 ,additional /ud5t loan protections
  7a7 ,9 g5]al ,section #adj7;g7 ( !    
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afej7;g77 is am5d$ to read z foll[s3   
7g7 ,additional protections relat+ to   
borr[] or cosign] ( a private education 
loan  7#a7 ,cle> & conspicu\s           
description ( obligation ( borr[] &     
cosign] ,9 ! case ( any private         
educational l5d] t provides a private   
education loan1 ! l5d] %all cle>ly &    
conspicu\sly describe1 9 writ+1 !       
obligations ( a cosign] ) respect to !  
loan1 includ+ ! effect t ! dea?1        

disability1 or inability to engage 9 any
 sub/antial ga9ful activity ( ! borr[]  
or any cosign] 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 cosign] = ! loan4    
7#b7 ,prohibition on automatic default )
 respect to a p]=m+ loan  7,a7 ,dea?1   
disability1 or bankruptcy ( cosign] ,if 
a private education loan includes a     
cosign]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 ( !   
cosign]2 or  7ii7 ! bankruptcy ( !      
cosign]4  7,b7 ,bankruptcy ( borr[] ,if 
a private education loan includes a     
cosign]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 cosign]7 aga9/ ! cosign] bas$ on !  
bankruptcy ( ! borr[]4  7#c7 ,borr[]    
requirem5ts reg>d+ dea? or disability ( 
borr[] ,9 ! ev5t ( ! dea?1 disability1  
or inability to engage 9 any sub/antial 
ga9ful activity ( a borr[] ( a private  
education loan--  7,a7 ! borr[]1 ! e/ate
 ( ! borr[]1 & any cosign] ( ! private  
education loan %all n be obligat$ to    
repay ! out/&+ pr9cipal & int]e/ on !   
loan2 &  7,b7 ! private educational l5d]
 ) respect to1 or ! s]vic] (1 ! private 
education loan1 z applicable1 %all1 ^u  
notification ( ! dea?1 disability1 or   
inability to engage 9 any sub/antial    
ga9ful activity1 dis*>ge ! liability ( !
 borr[]1 e/ate ( ! borr[]1 & any cosign]
 ( ! private education loan4  7#d7      
,cosign] release  7,a7 ,requirem5ts =   
automatic release ( cosign]  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    
cosign] f ! obligations ( ! cosign] "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 cosign] ( ! private       
education loan ?an ! crit]ia e/abli%$ "u
 clause 7i74  7,b7 ,disclosure ( crit]ia
 = cosign] release ,a private           
educational l5d] %all-- 7i7 include 9 ! 
promissory note ( a private education   
loan ! crit]ia "u :i* a cosign] may be  
releas$ f ! obligation ( ! cosign] "u a 
private education loan "u ?is p>agraph2 
&  7ii7 disclose to ! borr[] & any      

cosign] at ! "t ! private education loan
 is consummat$1 cle>ly & conspicu\sly1 !
 crit]ia "u :i* a cosign] may be releas$
 f ! obligation ( ! cosign] "u a private
 education loan4  7,c7 ,modifications to
 crit]ia ,if a private education loan   
has a cosign]1 ! private educational    
l5d] ) respect to1 or s]vic] (1 !       
private education loan1 z applicable1   
may n modify ! crit]ia "u :i* ! cosign] 
may be releas$ f ! obligation ( !       
cosign] "u ! private education loan )\t 
! cons5t ( ! borr[] & ! cosign] 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 cosign]s = ! private       
education loan if a cosign] is releas$ f
 ! obligations ( ! cosign] "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  

cosign] 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$it      
capacity ( ! borr[] or a cosign] ( !    
private education loan us+ a /&>d t w\ld
 be m adv]se to ! borr[] or cosign]1 z  
applicable1 ?an ! /&>d ! private        
educational l5d] us$ to evaluate !      
cr$itwor?9ess1 cr$it /&+1 or cr$it      
capacity ( ! borr[] or cosign] on ! date
 on :i* ! private education loan 0      
consummat$4  7#e7 ,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#f7 ,c\nsel+ ,9 !
 case ( any private educational l5d] t  

ext5ds a private education loan1 ! l5d] 
%all ensure t ! borr[]1 & any cosign]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#g7 ,model =m
 ,! ,bureau %all publi% a model =m "u   
section #aje = describ+ ! obligation ( a
 cosign] = ! purposes ( p>agraph 7#a74  
7#h7 ,def9ition ( dea?1 disability1 or  
inability to engage 9 any sub/antial    
ga9ful activity ,= ! purposes ( ?is     
subsection ) respect to a borr[] or     
cosign]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 ,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 am5d$ by  
?is section4  #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 cosign] 9 !    
ev5t ( ! dea?1 disability1 or inability 

to engage 9 any sub/antial ga9ful       
activity ( ! borr[] or cosign]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 cosign] ( !
 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  7c7    
,cancellation ( loans = p>5t borr[]s 9  
case ( disability ( a /ud5t ,section    
#dcg7;d7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajhg7;d77 is am5d$
 by ins]t+ becomes p]man5tly & totally  
disabl$1 or is unable to engage 9 any   
sub/antial ga9ful activity1 z det]m9$ = 
purposes ( subsection 7a77#a71 aft]     
dies14  #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  #e4 ,applicability
  7a7 ,private educational loans        
,p>agraphs 7#b71 7#c71 & subp>agraphs   
7,a71 7,c71 7,d7 & 7,e7 ( section       
#adj7;g77#d7 ( ! ,tru? 9 ,l5d+ ,act 7#ae
 ,u4,s4,c4 #afej7;g771 z am5d$ by       
section #b ( ?is ,act1 %all apply to any
 out/&+ private educational loan receiv$
 by a borr[] be=e1 on1 or aft] ! date ( 
enactm5t ( ?is ,act4  7b7 ,f$]al loans  
,! am5dm5t made by section #c7;c7 ( ?is 
,act %all apply to any out/&+ loan      
receiv$ by a p>5t be=e1 on1 or aft] !   
date ( enactm5t ( ?is ,act4  7c7 ,date (
 onset ,! provisions describ$ 9         
subsections 7a7 & 7b7 %all apply )\t    
reg>d to ! date ( ! onset ( any         
disability or impairm5t1 ! date ( dea?1 
or ! date ( bankruptcy fil+4