Bill Text: NJ A4881 | 2024-2025 | Regular Session | Amended

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Bill Title: Requires institutions of higher education and certain proprietary institutions to notify Higher Education Student Assistance Authority of approved federal borrower defense loan discharge.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2024-12-09 - Reported out of Assembly Comm. with Amendments, 2nd Reading [A4881 Detail]

Download: New_Jersey-2024-A4881-Amended.html

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[First Reprint]

ASSEMBLY, No. 4881

STATE OF NEW JERSEY

221st LEGISLATURE

 

INTRODUCED OCTOBER 17, 2024

 

 

Sponsored by:

Assemblyman  CODY D. MILLER

District 4 (Atlantic, Camden and Gloucester)

Assemblyman  MICHAEL VENEZIA

District 34 (Essex)

 

 

 

 

SYNOPSIS

     Requires institutions of higher education and certain proprietary institutions to notify Higher Education Student Assistance Authority of approved federal borrower defense loan discharge.

 

CURRENT VERSION OF TEXT

     As reported by the Assembly Higher Education Committee on December 9, 2024, with amendments.

  

An Act concerning student loan discharge and supplementing Title 18A of the New Jersey Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    An institution of higher education or a proprietary institution licensed to offer academic degrees which receives notice from the United States Department of Education that a former or current student is approved for borrower defense loan discharge pursuant to federal law shall promptly notify the Executive Director of the Higher Education Student Assistance Authority ¹[and the Secretary of Higher Education]¹. The institution shall also inform the executive director ¹[and secretary]¹ if the student was a resident of the State at the time of the student's enrollment in the institution.

 

     2.    This act shall take effect immediately.