FRANKFORT, Ky. — Kentucky lawmakers have filed a bill that they say will make the student loan borrowing process more transparent. 

What You Need To Know

  • New Bill has been filed to make student borrowing more transparent

  • Democratic Reps. Patti Minter and Attica Scott introduced HB 239

  • HB 239 creates an advocate for borrowers and co-signers in the office of ombudsman

  • The bill does not cancel student debt

The "Student Loan Borrower Bill of Rights" — House Bill 239 — is co-sponsored by Rep. Patti Minter (D-Dist. 20) and Rep. Attica Scott (D-41). 

"It creates transparency in the process for student loan borrowers and their co-signers, it creates an advocate for them in state government in the office of (ombudsman) and it makes clearer what people are agreeing to," Minter said Tuesday.

A long-time history professor at Western Kentucky University, Minter called student loan debt a "multi-generational issue." 

"People that I had the first year that I taught are still trying to pay off their student loans," Minter said. "They’re in their 40s now. And their children and the generation of students that I now teach are trying to deal with the debt load they've taken on and seeing that, you know, maybe they didn't understand everything they were agreeing to."

The bill states a "student loan servicer shall not engage in abusive acts or practices."

It does not cancel the debt, Minter said.

"That is something only the federal government can do," she said. 

Minter said similar legislation is already in place in a dozen other states.

The bill is awaiting assignment to committee.