Student Loan Literacy Act of 2022

Senate Bill 5209 - Student Loan Literacy Act of 2022: Overview, Status, and Impact

Hozzl · 2024-03-13T03:08:11Z

Explore the details of Senate Bill 5209 Student Loan Literacy Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

3/13/2024, 3:08 AM

Congressional Summary of S 5209

Student Loan Literacy Act of 2022

This bill provides funding for and establishes a grant program for community-based nonprofit student loan consumer assistance programs.

Specifically, the bill directs the Department of Education (ED) to award grants to states for establishing, expanding, or providing support for community-based nonprofit student loan consumer assistance programs. These programs must provide assistance to borrowers of federal student loans, including by educating borrowers about their rights and responsibilities with respect to federal student loans.

ED must (1) make publicly available through its website a list of programs receiving grant funds; and (2) ensure that each holder, servicer, and collector of federal student loans provides at least one federal student loan liaison to communicate with such assistance programs on various issues, including the handling of borrower complaints.

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Current Status of Bill S 5209

Bill S 5209 is currently in the status of Bill Introduced since December 7, 2022. Bill S 5209 was introduced during Congress 117 and was introduced to the Senate on December 7, 2022. Bill S 5209's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of December 7, 2022