Requires registration of postsecondary education debt creditors; establishes protections for borrowers.

This bill requires postsecondary education debt creditors (those providing non-federal student loans) to register with New Jersey's Commissioner of Banking and Insurance and annually report detailed information about their lending practices, including borrower demographics, interest rates, and default rates. It establishes several key borrower protections, including requiring clear disclosure of cosigner release requirements, prohibiting debt acceleration except for payment default, and mandating that creditors discharge debt when borrowers are determined to be totally and permanently disabled. The bill also requires creditors to provide borrowers with information about potential loss of benefits when refinancing existing debt and establishes strict requirements for debt collection practices, including providing full documentation to borrowers during collection attempts. Violations can result in civil penalties up to $25,000 or criminal charges for knowing violations.