S. 5256 · 117th Congress · Senate

Simplifying Access to Student Loan Information Act of 2022

Active· Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced
Dec 14, 22
Passed Senate
Pending
Passed House
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

Simplifying Access to Student Loan Information Act of 2022

This bill expands the National Student Loan Data System (NSLDS) to include information about private education loans.

Specifically, the bill requires private educational lenders to submit to the NSLDS information regarding private education loans made to borrowers, including the outstanding balances and interest rates of such loans. Currently, only federal student loan information is available in the NSLDS.

The bill requires the Department of Education to

  • ensure that a cosigner of a private education loan for which information is included in the NSLDS has access only to that information in a separate account,
  • ensure that a private educational lender has access to the NSLDS only to submit information regarding the lender's loans, and
  • establish a functionality within the NSLDS that enables a student borrower of federal student loans to input the information necessary to compare repayment plans.

Action Timeline

2
  1. DEC 14, 2022•IntroReferral

    Introduced in Senate

  2. DEC 14, 2022•IntroReferral

    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Committees

1

Health, Education, Labor, and Pensions Committee

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Referred: Dec 14, 2022

Active