Proposal would offer protections for student loan borrowers in NY

NY Capitol News

A proposal in the 2020 Executive Budget includes sweeping protections for students who take out loans for college.

The protections would require companies issuing loans to get a state license and follow the same strict set of laws and regulations as other big lending products like mortgages.

Gov. Cuomo says the proposal would help crackdown on unscrupulous lending practices.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download our news app

Get it on Google Play