Social Security

The bill would set new standards for the servicing of cosigned private student loans. It would require more robust disclosures, ensure cosigner release is accessible to all borrowers and require cosigners to have access to all documents related to the loan, among other things. New Jersey currently has more than 130,000 older borrowers, who are most often co-signers helping their children or other relatives attend school.

Consumer advocates applauded the Murphy administration and the New Jersey Department of Banking and Insurance (DOBI) for designating a Student Loan Ombudsman to assist student loan borrowers and help resolve disputes with student loan servicers.

Pennsylvania lawmakers should create an independent student loan advocate to help educate consumers and push for higher education reforms in the Keystone State, the state auditor proposed Thursday as he unveiled a set of three recommendations.

But one thing hasn’t changed. Ohio law still requires public colleges and universities across the state to turn student debt over to the Ohio attorney general’s office for collection. By the time I found out about this, my debt to OU had grown dramatically and now fees and fines have almost doubled it to just over $18,000. It’s not uncommon for debt being collected through the AG to grow even more exponentially, according…