Governor Cuomo and Legislative Leaders Announce 2020 Enacted Budget Includes Measure to Create Sweeping Protections for Student Loan Borrowers

Posted to Applied Web NY on Tue, 05/14/2019 - 14:19

Governor Andrew M. Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie today announced that the FY 2020 Enacted Budget includes legislation that will provide sweeping new protections for student loan borrowers. The protections require companies servicing student loans held by New Yorkers to obtain a state license and meet standards consistent with the laws and regulations governing other significant lending products, such as mortgages. This is the latest step in Governor Cuomo's historic commitment to protecting the approximately 2.8 million student loan borrowers in New York State.

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