NY S05056

Creates a new private education debt registry requiring private education creditors operating in New York State to register with the superintendent of financial services within 180 days of the law's effective date.

Requires annual registration and reporting of private education debt portfolio information including outstanding balances, default rates, interest rates, schools financed, cosigner details, and litigation activity for debts owed by New York consumers.

Mandates providers of higher education to report additional data broken down by race and gender, including account holds, federal financial aid returns, collection activities, and copies of debt instruments used.

Directs the superintendent to create a publicly accessible website within one year displaying registered creditor information, summaries of reported data, and copies of promissory notes and agreements used by creditors.

Imposes civil penalties up to $10,000 per violation for knowing violations of registration or reporting requirements, and authorizes the superintendent to bar violators from operating as private education creditors for up to ten years.