Student Loan Legislation Introduced In New York

Abstract

New York Attorney General Andrew Cuomo issued a press release yesterday announcing an initiative in the legislature for a new bill named the Student Lending Accountability, Transparency and Enforcement (SLATE) Act of 2007 which would “protect students and their families from exploitation by conflicts of interest in the student-loan industry.” According to the press release, New York is the first state to offer legislation in direct response to Cuomo’s investigation into the student loan industry. The bill seeks to codify the College Loan Code of Conduct that has been used in settlement cases between Cuomo’s office and schools and lenders nationwide.

Originally published in NASFAA’s Today’s News on 4/17/07.