RICHMOND, Va. – The Virginia House of Delegates today passed legislationsponsored by Delegate Marcia “Cia” Price of Newport News that will create a student loan ombudsman to help Virginia borrowers navigate their repayment options.
In addition to helping to educate borrowers as to their rights and responsibilities, the Ombudsman will also develop an education course for borrowers by December of 2019.
“Too many student borrowers sign their names on the dotted line at only 18 or 19 years old without fully comprehending their rights and responsibilities associated with that debt, but also knowing that without those loans they would not be able to earn their degrees,” said Delegate Price. “We want college to be accessible to any Virginian with the dream and the drive. This bill will help Virginia borrowers stay current with their loans while protecting their financial security.”
As of 2017, about 1 million Virginians collectively owed more than $30 billion in student loan debt. Delegate Price also introduced legislation this session to help borrowers refinance their student loans. That bill died on party lines.