S 5598 New York Senate · 2025 Regular Session

Relates to protections for private education loan borrowers and cosigners

Summary

Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.

Bill status passed both 4 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Jun 2026

Senate Passage

Jun 2026

Assembly Passage

Jun 2026

Governor

Introduced Feb 25, 2025 Last action Jun 2, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

S5598A → S5598B · 1 edit

MINOR

The bill was updated from its initial Senate version (A) to its amended version (B) after being reported favorably by the Consumer Protection Committee. The primary substantive change involves adding alternative terms ('loan' and 'lender') to the legal definitions of 'private education loan' and 'private education lender' to ensure clarity and consistency throughout the law.

Scope change

The scope of the bill's application remains focused on protecting private education loan borrowers and cosigners in New York, with no changes to the entities or situations covered.

DEFINITION

Added the alternative terms 'loan' and 'lender' to the definitions of 'private education loan' and 'private education lender' respectively, allowing these shorter terms to be used interchangeably in the text to reduce repetition and improve readability.

Floor votes · Senate Jun 12, 2025 · Assembly Jun 2, 2026

How they voted

55–4

Passed · 4 other

Total votes 63

Jun 12, 2025

D Democratic41

38 Yea 3

92% Yea

R Republican22

17 Yea 4 Nay 1

77% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 2, 2026

Lower · Passed

PASSED ASSEMBLY

lower

Jun 1, 2026

Committee

REFERRED TO WAYS AND MEANS

lower

Jun 1, 2026

Upper · Passed

REPASSED SENATE

upper

May 27, 2026

Upper · Passed

AMENDED ON THIRD READING 5598B

upper

Apr 20, 2026

Committee

REFERRED TO CODES

lower

Apr 20, 2026

Upper · Passed

PASSED SENATE

upper

Jan 21, 2026

Upper · Passed

PRINT NUMBER 5598A

upper

Jan 21, 2026

Upper · Passed

AMEND AND RECOMMIT TO CONSUMER PROTECTION

upper

Jan 7, 2026

Committee

REFERRED TO CONSUMER PROTECTION

upper

Jun 12, 2025

Committee

REFERRED TO CONSUMER AFFAIRS AND PROTECTION

lower

Jun 12, 2025

Upper · Passed

PASSED SENATE

upper

Feb 25, 2025

Committee

REFERRED TO CONSUMER PROTECTION

upper

1 primary · 2 co-sponsors