TRENTON – In an effort to safeguard New Jersey college students from the predatory pitfalls emerging from the growing national student loan scandal, the Senate today unanimously approved a bill sponsored by Senate President Richard J. Codey (D-Essex) and Senator Raymond J. Lesniak (D-Union). Bill S2729 would establish tough new restrictions on the relationship between higher education and student lending institutions.
“With one son just graduating college and another about to start, I know that the cost of an education is extraordinary,” said Sen. Codey. “We can’t allow lending institutions to prey on our students and drive up these costs even further. We need to make sure they are offered the best and most affordable loans without any hidden motives.”