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Many student borrowers are confused by their repayment process, and Weitz said despite learning terminology during his work at VCU’s School of Business, he found himself questioning his decision making. He sees a “Student Borrower’s Bill of Rights” has a backstop for students against multi-billion dollar companies managing their student loans.

There are more than 1 million student borrowers across the Commonwealth. Those loans average more than $40,000. On Monday, the Virginia House passed legislation that would create a so-called “Borrower’s Bill of Rights.”

During a press conference, advocacy groups spoke in support of the bill. Anna Scholl, executive director of Progress Virginia, says student loan servicers are “not living up to their end of the bargain.” “Student loans are the second largest body of consumer debt in the country outside of mortgages. We owe more in student loans than we do in car payments, in credit card debt, in all of those things, and they’re the…

State Rep. Melissa Provenzano (D-Tulsa) filed legislation aimed at protecting students borrowing money to pay for their education.

Lawmakers in California have put forward the first legislation of its kind that would create clear, enforceable protections against abuses by student loan companies.