HB4784: Private Loan Disability Discharge Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To provide for the discharge of a private education loan in the case of death or total and permanent disability of a student obligor, and for other purposes.
Plain-language summary
This bill would allow private education loans to be forgiven when a student borrower dies or becomes totally and permanently disabled. Private education loans are money borrowed from banks or other private lenders, not federal government loans. Currently, federal student loans have discharge programs for death and disability, but private loans generally do not. The bill was introduced by Representative Madeleine Dean and is currently in the early stage of the legislative process.
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HB4784: Private Loan Disability Discharge Act of 2023