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S. 1354: Student Loan Borrower Bill of Rights

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S. 1354: Student Loan Borrower Bill of Rights

116th Congress · introduced 2019-05-07 · Education · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2019-05-07 · official record
  2. Who proposed it: Sen. Durbin, Richard J. [D-IL] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Student Loan Borrower Bill of Rights

Plain summary

Student Loan Borrower Bill of Rights This bill places additional requirements on postsecondary educational lenders and servicers and provides certain consumer protections to borrowers. Specifically, postsecondary educational lenders and servicers must provide borrowers with additional disclosures (1) before their first fully amortized payment is due, (2) when the borrower is identified as at risk of default, (3) when the borrower is delinquent on payments or has difficulty making payments, and (4) when a loan is transferred or sold. Further, servicers and lenders must (1) respond to borrower inquiries, (2) establish repayment specialists to assist borrowers who are at risk of default, (3) designate a service member and veterans liaison, and (4) make borrower loan information available in a secure electronic form. Servicers and lenders are prohibited from using mandatory arbitration clauses or class action restrictions. The bill also (1) standardizes the application and allocation of payments among multiple loans, and (2) limits when borrowers may be subject to late fees. Additionally, institutions of higher education must certify private education loans prior to a lender consummating a loan with a borrower. The bill directs the Department of Education to (1) establish a student loan servicing interagency working group, which must make recommendations and develop policy direction related to servicing contracts; and (2) establish a centralized point of access for all borrowers, which must include account information and payment processing. The Consumer Financial Protection Bureau must develop and issue model forms to allow borrowers to compare alternative repayment options, forbearance, and deferment options.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Student Loan Borrower Bill of Rights

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Durbin, Richard J. [D-IL] · 9 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jack Reed (D-RI), Elizabeth Warren (D-MA), Jeff Merkley (D-OR), Richard Blumenthal (D-CT), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Tina Smith (D-MN)

Sponsor's campaign money: Sen. Durbin, Richard J. [D-IL] reported raising $84,084 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong116-s1354 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116