Bill Text: AZ HB2390 | 2017 | Fifty-third Legislature 1st Regular | Introduced
Bill Title: Postsecondary education; loan information
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2017-02-06 - House read second time [HB2390 Detail]
Download: Arizona-2017-HB2390-Introduced.html
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REFERENCE TITLE: postsecondary education; loan information |
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State of Arizona House of Representatives Fifty-third Legislature First Regular Session 2017
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HB 2390 |
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Introduced by Representatives Engel: Alston, Bolding, Bowers, Boyer, Butler, Clodfelter, Coleman, Cook, Epstein, Gabaldón, John, Nutt, Payne, Saldate, Shooter, Stringer, Syms, Senator Mendez
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AN ACT
amending Title 15, chapter 14, article 2, Arizona Revised Statutes, by adding section 15-1826; relating to postsecondary education.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 15, chapter 14, article 2, Arizona Revised Statutes, is amended by adding section 15-1826, to read:
15-1826. Student loan information; immunity
A. A postsecondary educational institution that receives education loan information for a student enrolled in that institution shall annually provide to that student the following information:
1. An estimate of the total amount of education loans taken out by the student.
2. An estimate of:
(a) the potential total payoff amount of the education loans incurred or a range of the total payoff amount.
(b) The monthly repayment amounts that a similarly situated borrower might incur, including principal and interest, for the amount of the student's education loans at the time the information is provided.
3. The percentage of the borrowing limit the student has reached at the time the information is provided.
b. The information provided under subsection A of this section may include a statement that the estimates and ranges provided are general in nature and not meant as a guarantee or promise of the actual projected amounts.
c. a Postsecondary educational institution does not incur liability for any representations made pursuant to this section.
