No one considers the unthinkable. We didn’t. Until the unthinkable happened to us! In June 2004, at the age of 23, Christopher sustained a severe Traumatic Brain Injury (TBI) in a recreational accident. Due to the extent of his injuries, Christopher remained in a persistent vegetative state, unable to see, speak, or move for two years before passing away in July 2006 at the age of 25. Although unimaginable, accidents such as Christopher’s could happen just as easily to you, or your child, during a recreational sporting event, college party, military deployment, casual gathering of friends, natural disaster, or at the workplace upon graduation.
In harsh contrast to Federal student loan forgiveness, Private education lenders are currently capable of transferring repayment to unprotected cosigners in extreme medical or even fatal situations devoid of any protective regulations or mandated disclosures.
The late Rep. John Adler (D-NJ) introduced the Christopher Bryski Student Loan Protection Act (H.R.5458) to the U.S. House of Representatives on May 28, 2010 (which subsequently passed the House in September 2010) to improve transparency and disclosure of Private education lending institutions with a distinct focus on the catastrophic incapacitation, disability, and death of borrowers and cosigners. In February 2011, Senator Frank Lautenberg (D-NJ) introduced a companion bill (S.3996) in the Senate, which was referred to committee, but wasn’t voted on during the 111th Congressional Session.
The Christopher Bryski Student Loan Protection Act (H.R.3240 and S.1748) have now been reintroduced during the 112th Congressional Session. Sponsors of this bill include co-chairman and founder of the Congressional Brain Injury Task Force Rep. Bill Pascrell (D-NJ), Rep. Jon Runyan (R-NJ), and Senator Frank Lautenberg (D-NJ).
The Brain Injury Association of America (BIAA), Brain Injury Association of NJ (BIANJ), Rutgers University, and the National Association of State Head Injury Administrators (NASHIA) have endorsed the bill. This bill will help protect yourself, your family, and all the struggling families throughout our country against financial vulnerability. This bill recommends the following amendments to the Truth and Lending Act and Higher Education Opportunity Act:
Private education lenders shall:
-Clearly and concisely define borrower and cosigner obligations;
-Discuss the benefits of creating a Durable Power of Attorney;
-The effect disability, incapacitation, or death would have on federal and private educational loans.
Amends Federal education loan entrance counseling to include:
-Providing information with respect to loan forgiveness rules and the benefits/uses of a Durable Power of Attorney.
