S 5256
117th Congress
Senate
Education
Simplifying Access to Student Loan Information Act of 2022
Introduced: December 14, 2022
Introduced by:
Shaheen, Jeanne
Democratic
· New Hampshire
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 14, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Dec 14, 2022
Introduced in Senate
Plain-English summary
Simplifying Access to Student Loan Information Act of 2022
This bill expands the National Student Loan Data System (NSLDS) to include information about private education loans.
Specifically, the bill requires private educational lenders to submit to the NSLDS information regarding private education loans made to borrowers, including the outstanding balances and interest rates of such loans. Currently, only federal student loan information is available in the NSLDS.
The bill requires the Department of Education to
- ensure that a cosigner of a private education loan for which information is included in the NSLDS has access only to that information in a separate account,
- ensure that a private educational lender has access to the NSLDS only to submit information regarding the lender's loans, and
- establish a functionality within the NSLDS that enables a student borrower of federal student loans to input the information necessary to compare repayment plans.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committees of jurisdiction
1