NJ S1487

Institutions of higher education and proprietary institutions licensed to offer academic degrees must notify the Executive Director of the Higher Education Student Assistance Authority when a current or former student receives approved federal borrower defense loan discharge.

Notification is required when institutions receive notice from the U.S. Department of Education of an approved borrower defense discharge.

Institutions must also report whether the affected student was a New Jersey resident at the time of enrollment.

The bill takes effect immediately upon enactment.