Christopher's Law

 Rep. John Adler (D-NJ) introduced The Christopher Bryski Student Loan Protection Act (H.R. 5458) in the U.S. House of Representatives on May 28, 2010.

The bill would :

  • Amends the Truth in Lending Act to require private educational lenders and institutions of higher education (IHEs) that provide student loan counseling to discuss the benefits of advanced directives with the signers and cosigners of student loans.
  • Requires lenders of private educational loans for which cosigners are held jointly liable to clearly and concisely define the terms of cosigners' obligations regarding such loans
  • Directs lenders of private educational loans which are cosigned to inform the signers and cosigners regarding the benefits of purchasing credit insurance. The bill prohibits such lenders from conditioning or varying the terms of such loans on the basis of whether or not credit insurance is purchased.
  • Directs the Board of Governors of the Federal Reserve System by regulation to set standards for determining when a private educational loan signer or cosigner has died or become incapacitated or disabled. Requires such regulations to treat a determination by the Secretary of Veterans Affairs (VA) that a borrower is unemployable due to a service-connected condition as proof that such borrower is incapacitated or disabled. 
  • Amends the Higher Education Act of 1965 to require: (1) prospective borrowers of federal PLUS and consolidated loans to be informed about creation of advanced directives; and (2) borrowers of federal educational loans to be provided entrance counseling regarding the creation of advanced directives and the effect their death, incapacitation, or disability would have on their federal and private educational loans.

 The House of Representatives passed the bill on September 28, 2010.

Additional Information:

Updated June 19, 2011