I 
114TH CONGRESS 
1ST SESSION H. R. 3474 
To establish additional protections and disclosures for students and co-signers 
with respect to student loans, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 10, 2015 
Mr. PASCRELL introduced the following bill; which was referred to the Com-
mittee on Financial Services, and in addition to the Committee on Edu-
cation and the Workforce, for a period to be subsequently determined by 
the Speaker, in each case for consideration of such provisions as fall with-
in the jurisdiction of the committee concerned 
A BILL 
To establish additional protections and disclosures for stu-
dents and co-signers with respect to student loans, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; FINDINGS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Christopher Bryski Student Loan Protection Act’’ or 
‘‘Christopher’s Law’’. 
(b) FINDINGS.—Congress finds the following: 
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(1) According to the Bureau of Consumer Fi-
nancial Protection (hereafter referred to as the 
‘‘CFPB’’) Student Loan Ombudsman: 
(A) ‘‘The CFPB received more than 3,100 
private student loan complaints and approxi-
mately 1,100 debt collection complaints related 
to student loans between October 1, 2014, and 
March 31, 2015.’’. 
(B) ‘‘Co-signers complain that information 
about discharge or alternative arrangements in 
the case of death of the primary borrower is not 
readily available and that decisions are made on 
a case-by-case basis, giving co-signers little un-
derstanding of how the process works, or if they 
will be successful.’’. 
(C) ‘‘The complaints and input received by 
the CFPB resemble many of the same issues 
experienced by mortgage borrowers, such as im-
proper application of payments, untimeliness in 
error resolution, and inability to contact appro-
priate personnel in times of hardship.’’. 
(D) ‘‘The difference between federal and 
private student loans in periods of disability 
was not well-understood.’’. 
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(2) An estimated 1,700,000 people sustain a 
traumatic brain injury each year, with older adoles-
cents aged 15 to 19 years old more likely to sustain 
a traumatic brain injury than other age groups. 
(3) It has been estimated that the annual inci-
dence of spinal cord injury, not including those who 
die at the scene of an accident, is approximately 40 
cases per 1,000,000 people in the United States or 
approximately 12,000 new cases each year. These in-
juries can lead to permanent disability or loss of 
movement and can prohibit the victim from engaging 
in any substantial gainful activity. 
(4) According to the CFPB, more than 90 per-
cent of new private student loans are co-signed. 
(5) According to the CFPB, private student 
loan companies provide co-signer release to less than 
1 percent of eligible borrowers. 
SEC. 2. ADDITIONAL STUDENT LOAN PROTECTIONS. 
(a) IN GENERAL.—Section 140 of the Truth in Lend-
ing Act (15 U.S.C. 1650) is amended by adding at the 
end the following: 
‘‘(g) ADDITIONAL PROTECTIONS RELATING TO BOR-
ROWER
OR
CO-SIGNER
OF
A
PRIVATE
EDUCATION 
LOAN.— 
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‘‘(1) CLEAR
AND
CONSPICUOUS
DESCRIPTION 
OF BORROWER’S AND CO-SIGNER’S OBLIGATION.—In 
the case of any private educational lender who ex-
tends a private education loan, the lender shall 
clearly and conspicuously describe, in writing, the 
co-signer’s obligations with respect to the loan, in-
cluding the effect the death, disability, or inability to 
engage in any substantial gainful activity of the bor-
rower or any co-signer would have on any such obli-
gation, in language that the Bureau determines 
would give a reasonable person a reasonable under-
standing of the obligation being assumed by becom-
ing a co-signer for the loan. 
‘‘(2) PROHIBITION
ON
AUTOMATIC
DEFAULT 
WITH RESPECT TO A PERFORMING LOAN.— 
‘‘(A) DEATH, DISABILITY, OR BANKRUPTCY 
OF CO-SIGNER.—If a private education loan in-
cludes a co-signer, a private educational lender 
may not take any adverse action (including de-
claring a default, accelerating any loan obliga-
tion, increasing the interest rate, or altering 
any obligations under the private education loan 
in a way that is adverse to the borrower) 
against the borrower based on the death, dis-
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ability, or inability to engage in any substantial 
gainful activity or bankruptcy of a co-signer. 
‘‘(B) DEATH, 
DISABILITY, 
OR
BANK-
RUPTCY OF BORROWER.—If a private education 
loan includes a co-signer, a private educational 
lender may not take any adverse action (includ-
ing declaring a default, accelerating any loan 
obligation, increasing the interest rate, or alter-
ing any obligations under the private education 
loan in a way that is adverse to any co-signer) 
against the co-signer based on the death, dis-
ability, or inability to engage in any substantial 
gainful activity, or bankruptcy of the borrower. 
‘‘(3) CO-SIGNER RELEASE.— 
‘‘(A) REQUIREMENTS FOR AUTOMATIC RE-
LEASE OF CO-SIGNER.— 
‘‘(i) CRITERIA ESTABLISHED BY THE 
BUREAU.—Not later than 180 days after 
the date of enactment of this subsection, 
the Bureau shall establish criteria, which if 
met by the borrower of a private education 
loan, the private educational lender or 
servicer of the private education loan shall 
promptly release any co-signer from the 
obligations of the co-signer under the loan 
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without requiring any action on behalf of 
the borrower. 
‘‘(ii) 
CRITERIA
ESTABLISHED
BY 
LENDER.—A private educational lender 
may establish criteria for automatic release 
that are different from the criteria de-
scribed in clause (i) if the criteria estab-
lished by the lender are not more restric-
tive with respect to the borrower or any co- 
signer of the private education loan than 
the criteria established under clause (i). 
‘‘(B) DISCLOSURE OF CRITERIA FOR CO- 
SIGNER RELEASE.—A private educational lend-
er shall— 
‘‘(i) include in the promissory note of 
a private education loan the criteria under 
which a co-signer may be released from the 
obligation of the co-signer under a private 
education loan under this subparagraph; 
and 
‘‘(ii) disclose to the borrower and any 
co-signer at the time the private education 
loan is consummated, clearly and conspicu-
ously, the criteria under which a co-signer 
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may be released from the obligation of the 
co-signer under a private education loan. 
‘‘(C) MODIFICATIONS TO CRITERIA.—The 
private educational lender, or servicer of a pri-
vate education loan, as applicable, may not 
modify the criteria under which a co-signer may 
be released from the obligation of the co-signer 
under a private education loan if the modifica-
tion would be adverse to the borrower without 
the consent of the borrower and applicable co- 
signer. 
‘‘(D) NOTIFICATION ON RELEASE.—A pri-
vate educational lender, or servicer, as applica-
ble, shall promptly notify the borrower and any 
co-signers for a private education loan if a co- 
signer is released from the obligations of the co- 
signer under the private education loan under 
this subparagraph. 
‘‘(E) MODIFICATION OF EVALUATION OF 
CREDITWORTHINESS, 
CREDIT
STANDING, 
OR 
CREDIT CAPACITY.—In determining whether the 
criteria for a co-signer release are met, a pri-
vate educational lender or servicer of a private 
education loan, as applicable, may not evaluate 
the creditworthiness, credit standing, or credit 
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capacity of the borrower or a co-signer of the 
private education loan using a standard that 
would be more adverse to the borrower or co- 
signer, as applicable, than the standard the pri-
vate educational lender used to evaluate the 
creditworthiness, credit standing, or credit ca-
pacity of the borrower or co-signer on the date 
on which the private education loan was con-
summated. 
‘‘(4) DESIGNATION OF INDIVIDUAL TO ACT ON 
BEHALF OF THE BORROWER.—In the case of any 
private educational lender who extends a private 
education loan, the lender shall provide the borrower 
an option to designate an individual to have the 
legal authority to act on behalf of the borrower with 
respect to the private education loan in the event of 
the borrower’s death, disability, or inability to en-
gage in any substantial gainful activity. 
‘‘(5) COUNSELING.—In the case of any private 
educational lender who extends a private education 
loan, the lender shall ensure that the borrower, and 
any co-signer, receives comprehensive information on 
the terms and conditions of the loan and of the re-
sponsibilities the borrower has with respect to such 
loan, including the information described under sub-
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