Relates to protections for private education loan borrowers and cosigners

Summary

The bill adds a new article to the New York General Business Law that sets rules for private education lenders, borrowers, and cosigners. It requires lenders to give clear information, limits harsh collection actions, and creates a formal process for releasing cosigners. The goal is to make private student loans more transparent and to protect borrowers and their supporters from unexpected debt actions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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