Kentucky lawmaker proposes student loan borrowers’ ‘Bill of Rights’

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Student loan debt

FRANKFORT, Ky (WEHT)– State Representative Patti Minter announced she is pre-filing the Student Loan Borrowers Bill of Rights, the first comprehensive student loan reform bill in Kentucky, for the 2022 legislative session.

The bill is currently titled B.R. 96 and is aimed at banning deceptive practices, increasing oversight, and requiring more transparency for widely used student loan servicers.

“College students and their families deserve full transparency so they can make informed decisions about their loans,” said Minter, who represents House District 20 in Bowling Green. “With this bill, student borrowers can know that their state government has their back. No one should be tricked into paying more than they should just so they can afford a college education.”

Minter is a history professor at Western Kentucky University. She is introducing the bill with primary co-sponsor State Rep. Attica Scott of Louisville, who has been vocal about the student loan debt she continues to pay off.

More than a dozen U.S. states have enacted similar bills to protect borrowers and their families, including neighboring states Virginia and Illinois. Minter previously filed the bill during the 2021 legislative session.

Minter says these are key components of the Student Loan Borrowers Bill of Rights:

  • Create a watchdog official to track student loan complaints, collect data, and provide helpful student loan information to the public.
  • Ban fraudulent, deceptive, or abusive student loan lending practices.
  • Require that borrowers be fully informed of their repayment options.
  • Protect borrowers from coercive credit reporting practices.
  • Limit the amount of time payment can be processed.
  • Allow borrowers to sue student loan services engaged in prohibited behavior and provide enhanced remedies

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