Creates an income driven repayment plan for private student loans held by New York state banking institutions.
Establishes maximum rate of interest for New Jersey College Loans to Assist State Student Loan Program; establishes protections for private student loan borrowers.
Relates to creating the veterinarians across rural New York state student loan repayment fund for certain veterinarians that make a two year commitment to practice in a tract or county defined by the health resources and services administration as being "rural" or eligible for a rural health grant.
Requires institutions of higher education to send out annual student debt letters; requires students enrolled in public institutions of higher education to complete course on student loan debt repayment.
Implements a students' bill of rights for city university of New York institutions to guarantee certain rights to students at such institutions.
SIMPLE Act Streamlining Income-driven, Manageable Payments on Loans for Education Act
Relates to requiring the establishment of automatic payment plans; requires utility companies headquartered in New York to establish a statewide program to provide eligible participants with affordable payment plans.
Student loans for postsecondary education, requirements related to student loan servicers, creating an office of the student loan ombudsman in the Department of Financial Institutions, and granting rule-making authority. (FE)
Student loans for postsecondary education, requirements related to student loan servicers, creating an office of the student loan ombudsman in the Department of Financial Institutions, and granting rule-making authority. (FE)
Permits cosigners to student loans under New Jersey College Loans to Assist State Students (NJCLASS) Loan Program to make payments on loans; allows gross income tax deduction for certain payments under NJCLASS Loan Program.