DE HB349

Establishes a Student Loan Ombudsman position within the Office of the State Bank Commissioner to assist student loan borrowers with complaints and servicing concerns.

Ombudsman duties include receiving and resolving borrower complaints, analyzing complaint data, monitoring federal and state student loan policies, and reviewing individual borrower loan histories with written consent.

Requires the Ombudsman to establish a student loan borrower education course by March 31, 2017, covering loan terms, documentation requirements, payment obligations, income-based repayment options, loan forgiveness, and disclosure requirements.

Mandates annual reporting to the standing committees of both chambers of the General Assembly beginning January 1, 2018, regarding ombudsman implementation, effectiveness, and recommendations for protecting borrowers from predatory practices.

Takes effect January 1, 2017; student loan borrower complaints are exempted from public records disclosure under Delaware law.