HARRISBURG – Legislation co-sponsored by Rep. Tarah Toohil (R-Luzerne) would establish a Student Borrowers’ Bill of Rights in Pennsylvania to help protect young people from being overburdened financially, especially during the current COVID-19 public health crisis.
House Bill 2360
would help student borrowers avoid problems resulting from a loan process that can be complex and confusing. The proposal would:
• Ensure student loan borrowers have access to accurate information about the loan and all repayment options.
• Provide stronger state oversight of lenders from the Pennsylvania Department of Banking.
• Appoint an ombudsman whose sole responsibility is to assist borrowers.
Toohil, who is a member of the House Student Debt Caucus, believes the legislation would protect student borrowers from making bad decisions that could impact their credit rating.
“If we can establish qualifications for a moratorium on payments, that would be really positive for student borrowers in Pennsylvania,” Toohil said. “Especially since it is likely not their fault they are suffering economically during a pandemic.”
According to Toohil, Pennsylvania has more student loan debt per resident ($36,000) than any other state in the nation.
House Bill 2360 is currently under consideration in the House Education Committee.
Representative Tarah Toohil
116th Legislative District
Pennsylvania House of Representatives
Contact: Rep. Toohil’s Office