HIGHER ED-LOAN-PRIVATE LENDER Senate SponsorsSen. Pat McGuire-Kimberly A. Lightford 1/13/2021SenateSession Sine Die New ActAmends the Higher Education Loan Act. Creates the Know Before You Owe Private Education Loan Act. Provides that before a private educational lender makes a private education loan to a student who attends an institution of higher education, the private educational lender must obtain certification from the institution about the student borrower's: (i) enrollment status, (ii) cost of attendance, and (iii) the difference between the cost of attendance and the borrower's estimated financial assistance from all sources. Allows a private educational lender to disburse the funds of a private education loan if the institution of higher education fails to provide the requested certification within 15 business days of the request. Requires the private educational lender to provide notice to the institution that the loan has been disbursed without the certification. Requires a private educational lender to submit annual reports to the Department of Financial and Professional Regulation and to the Student Loan Ombudsman. Sets forth the requirements that must be included on the loan statement of a private educational loan. Provides that the institution of higher education must inform the student borrower of his or her lending options and whether the student has applied for or exhausted all available sources of federal financial assistance. Effective immediately. 2/14/2020SenateFiled with Secretary by Sen. Pat McGuire 2/14/2020SenateFirst Reading 2/14/2020SenateReferred to Assignments 3/3/2020SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford 3/12/2020SenateAssigned to Higher Education 3/18/2020SenateRule 2-10 Committee Deadline Established As April 2, 2020 3/18/2020SenateRule 2-10 Committee Deadline Established As April 2, 2020 3/25/2020SenateRule 2-10 Committee Deadline Established As April 24, 2020 3/25/2020SenateRule 2-10 Third Reading Deadline Established As May 7, 2020 3/25/2020SenateRule 2-10 Committee Deadline Established As April 24, 2020 3/25/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 7, 2020 4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 4/16/2020SenateRule 2-10 Committee Deadline Established As April 30, 2020 4/23/2020SenateRule 2-10 Committee Deadline Established As May 7, 2020 4/23/2020SenateRule 2-10 Third Reading Deadline Established As May 15, 2020 4/23/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 15, 2020 4/30/2020SenateRule 2-10 Committee Deadline Established As May 15, 2020 4/30/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 22, 2020 5/7/2020SenateRule 2-10 Committee Deadline Established As May 22, 2020 5/7/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 29, 2020 5/15/2020SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020 1/13/2021SenateSession Sine Die