Student Loan Literacy Act of 2022
This bill provides funding for and establishes a grant program for community-based nonprofit student loan consumer assistance programs.
Specifically, the bill directs the Department of Education (ED) to award grants to states for establishing, expanding, or providing support for community-based nonprofit student loan consumer assistance programs. These programs must provide assistance to borrowers of federal student loans, including by educating borrowers about their rights and responsibilities with respect to federal student loans.
ED must (1) make publicly available through its website a list of programs receiving grant funds; and (2) ensure that each holder, servicer, and collector of federal student loans provides at least one federal student loan liaison to communicate with such assistance programs on various issues, including the handling of borrower complaints.