Bill aims to end ‘predatory’ student loans – News 40

BOWLING GREEN, Ky. – Western Kentucky University professor and State Representative Patti Minter D-Bowling Green pre-filed the Bill 96 request last Thursday.

Minter said she had proposed the “Bill of Rights for Student Loan Borrowers,” calling for a bill to make loans more transparent to students.

“So many people have no idea what they’re signing up for,” Minter said. “They are just ticking boxes because they know they need money for school, but this bill will ensure that just like mortgage borrowers know what they are getting into, before that people don’t sign on that dotted line, that they know what their obligation is, that their co-signers know what their obligation is, and that the state government will ensure that they are fully transparent. “

Minter said the bill would create oversight for the entire student loan process and put an end to “predatory” loans.

She says this bill request, if passed, would require people offering student loans to explain to students what their monthly payments would be, what would happen if they missed a payment, if they had a rate of adjustable interest and, if so, for how long.

Democratic Representative Attica Scott, of Louisville, signed as the sponsor of this bill request with Minter. Minter said she hoped the bill would gain bipartisan support.

Minter said people wishing to contact her about the bill request can reach her through her Facebook posts or the state officials page email.

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