Sec. 3. Benefits for borrowers who are members of the Armed Forces
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/bill/113/s/2448/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 131(f) is amended to read as follows: The Secretary, in coordination with the Secretary of Defense and the Secretary of Veterans Affairs, shall create a revised and updated searchable Internet website that— contains information, in simple and understandable terms, about all Federal and State student financial assistance, readmission requirements under section 484C, and other student services, for which members of the Armed Forces (including members of the National Guard and Reserves), veterans, and the dependents of such members or veterans may be eligible; and is easily accessible through the Internet website described in subsection (e)(3).
Not later than 365 days after the date of the enactment of the Servicemember Higher Education Protection Act , the Secretary shall make publicly available the revised and updated Internet website described in subparagraph (A). The Secretary, in coordination with the Secretary of Defense and the Secretary of Veterans Affairs, shall make the availability of the Internet website described in subparagraph
(A)widely known to members of the Armed Forces (including members of the National Guard and Reserves), veterans, the dependents of such members or veterans, States, institutions of higher education, and the general public. In this paragraph, the term Federal and State student financial assistance means any grant, loan, work assistance, tuition assistance, scholarship, fellowship, or other form of financial aid for pursuing a postsecondary education that is— administered, sponsored, or supported by the Department of Education, the Department of Defense, the Department of Veterans Affairs, or a State; and available to members of the Armed Forces (including members of the National Guard and Reserves), veterans, or the dependents of such members or veterans. The Secretary, in consultation with the Director of the Bureau of Consumer Financial Protection and the heads of any other relevant Federal agencies, shall create a simplified disclosure and enrollment form for borrowers who are performing eligible military service (as defined in section 481(d)). The disclosure and enrollment form described in subparagraph
(A)shall include— information about the benefits and protections under title IV and under the Servicemembers Civil Relief Act (50 U.S.C. App. 501 et seq.) that are available to such borrowers because of their status as borrowers who are performing eligible military service (as defined in section 481(d)); and an opportunity for the borrower, by completing the enrollment form, to invoke certain protections, activate certain benefits, and enroll in certain programs that may be available to that borrower, which shall include the opportunity— to invoke applicable protections that are available under the Servicemembers Civil Relief Act (50 U.S.C. App. 501 et seq.), as such protections relate to Federal student loans under title IV; and to activate or enroll in any other applicable benefits that are available to such borrower under this Act due to the borrower's status as a borrower who is performing eligible military service (as defined in section 481(d)), such as eligibility for a deferment or eligibility for a period during which interest shall not accrue. Not later than 365 days after the date of the enactment of the Servicemember Higher Education Protection Act , the Secretary shall make available to eligible institutions, eligible lenders, and personnel at the Department of Defense and other Federal agencies that provide services to borrowers who are members of the Armed Forces or the dependents of such members or individuals performing eligible military service, the disclosure and enrollment form described in subparagraph (A). The completion of the disclosure and enrollment form created pursuant to subparagraph
(A)by the borrower of a loan made, insured, or guaranteed under part B or part D of title IV who is otherwise subject to the interest rate limitation in subsection
(a)of section 207 of the Servicemembers Civil Relief Act ( 50 U.S.C. App. 527(a) ) and submittal of such form to the Secretary shall be considered, for purposes of such section, provision to the creditor of written notice as described in subsection (b)(1) of such section. The Secretary shall provide each such disclosure and enrollment form completed and submitted by a borrower of a loan made, insured, or guaranteed under part B of title IV who is otherwise subject to the interest rate limitation in subsection
(a)of section 207 of the Servicemembers Civil Relief Act ( 50 U.S.C. App. 527(a) ) to any applicable eligible lender under part B of title IV so as to satisfy the provision to the lender of written notice as described in subsection (b)(1) of such section. .