AZ HB2390

Postsecondary educational institutions that receive education loan information for enrolled students must annually provide students with written loan information.

Institutions must provide an estimate of the total amount of education loans taken out by the student and the potential total payoff amount or range of payoff amount.

Institutions must estimate the monthly repayment amounts (including principal and interest) that a similarly situated borrower might incur based on the student's loan amount at the time the information is provided.

Institutions must disclose the percentage of the borrowing limit the student has reached at the time the information is provided.

Postsecondary educational institutions are granted immunity from liability for any representations made under this requirement, and may include disclaimers that estimates are general in nature and not guaranteed.