Higher educational institutions; policies addressing student loan vendors. (SB510)
Introduced By
Sen. Don McEachin (D-Richmond) with support from co-patron Sen. Chap Petersen (D-Fairfax)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Institutions of higher education; student lending policies; report. Requires the governing boards of public institutions of higher education to develop policies and procedures for disclosing certain information to students on student lending practices, and to report this information annually to the State Council for Higher Education. This information shall include (i) disclosure of the for-profit status of private vendors, (ii) the criteria used to determine which lenders, if any, are recommended or endorsed by the school, and (iii) explicit notification that students are free to borrow from any lender of their choosing and are not limited to a list offered by the school. Also the bill prohibits public institutions of higher education from entering into exclusive agreements with vendors, and prohibits employees from accepting gifts to induce endorsement of certain vendors. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/09/2008 | Prefiled and ordered printed; offered 01/09/08 |
01/09/2008 | Prefiled and ordered printed; offered 01/09/08 087842273 |
01/09/2008 | Referred to Committee on Education and Health |
01/16/2008 | Assigned Education sub: Higher Education |
01/24/2008 | Reported from Education and Health with substitute (15-Y 0-N) (see vote tally) |
01/24/2008 | Committee substitute printed 084088273-S1 |
01/25/2008 | Constitutional reading dispensed (37-Y 0-N) (see vote tally) |
01/28/2008 | Read second time |
01/28/2008 | Reading of substitute waived |
01/28/2008 | Committee substitute agreed to 084088273-S1 |
01/28/2008 | Engrossed by Senate - committee substitute SB510S1 |
01/29/2008 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
01/29/2008 | Communicated to House |
02/01/2008 | Impact statement from DPB (SB510S1) |
02/12/2008 | Placed on Calendar |
02/12/2008 | Read first time |
02/12/2008 | Referred to Committee on Education |
02/25/2008 | Reported from Education with substitute (21-Y 0-N) (see vote tally) |
02/25/2008 | Committee substitute printed 083377708-H1 |
02/26/2008 | Read second time |
02/27/2008 | Read third time |
02/27/2008 | Committee substitute agreed to 083377708-H1 |
02/27/2008 | Engrossed by House - committee substitute SB510H1 |
02/27/2008 | Passed House with substitute BLOCK VOTE (97-Y 0-N) |
02/27/2008 | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) |
02/27/2008 | Impact statement from DPB (SB510H1) |
02/29/2008 | Passed by for the day |
03/03/2008 | House substitute agreed to by Senate (39-Y 0-N) |
03/04/2008 | Enrolled |
03/04/2008 | Bill text as passed Senate and House (SB510ER) |
03/05/2008 | Impact statement from DPB (SB510ER) |
03/05/2008 | Signed by Speaker |
03/06/2008 | Signed by President |
03/12/2008 | G Approved by Governor-Chapter 624 (effective 7/1/08) |
03/18/2008 | G Acts of Assembly Chapter text (CHAP0624) |