S.486 - Federal Government - A bill to establish requirements for lenders and institutions of higher education in order to protect students and other borrowers receiving educational loans.

A bill to establish requirements for lenders and institutions of higher education in order to protect students and other borrowers receiving educational loans. 2/1/2007--Introduced. Student Loan Sunshine Act - Amends the Higher Education Act of 1965 to require each lender entering into an educational loan arrangement with a postsecondary school to: (1) report annually to the Secretary of Education specified information concerning such arrangement; (2) inform borrowers of their loan options under title IV (Student Assistance) before extending private educational loans for attendance at such school; and (3) be barred by such school from marketing such loans in a manner implying the school's endorsement. Directs the Secretary to report to specified congressional committees on the adequacy of educational loan information provided to borrowers, including a model format for lender use in providing annual loan information to the Secretary and covered schools. Requires [...]

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