Oregon Student Debt Letter Legislation

Oregon Legislation Recap

Oregon passed student debt letter legislation in June 2017, requiring higher education institutions in the state to annually provide federal student loan information to each student enrolled at the institution for whom the institution receives federal education loan information.

What information must schools report in order to meet the requirements of the law?

The notification must include estimates of:

The total amount of federal education loans the student has received at the time the information is provided;
The total cumulative amount of tuition and fees the student has paid to the institution of higher education at the time the information is provided;
The total potential payoff amount, or a range within which the total payoff amount may fall, including principal and interest, of the federal education loans the student has received at the time the information is provided;
The amount, including interest, that the student will have to pay each month on the federal education loan amount including the interest rate and number of repayment years used by the institution of higher education to calculate the monthly payment estimate; and,
The percentage of the borrowing limit the student has reached for each type of federal education loan the student has received at the time the information is provided.

Are there any additional requirements or statements?

Yes, schools must include a statement that the information provided does not include private loans or credit card debt.

Here's how to navigate it

Student debt letters are a great way to help you retain the students you've worked so hard to enroll. But for an already overworked staff, debt letter legislation can feel like just one more area requiring compliance. Our free downloadable resources can help you find your way!

How have your peers tackled student debt letters?

We surveyed schools mandated to send debt letters to learn how they tackled the task.

This summary report shares valuable insight!

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Where does the debt letter data come from?

College Cost Meter uses a school-generated file and NSLDS data that we collect to provide your students with the personalized financial aid details you want them to know. Our high-touch support makes debt letters easy. We'll work with you to:

Create your School College Cost Meter File
Help customize your debt letter to meet your student success goals
Perform a test to ensure it's working great

Download our Quick Guide for Oregon

The Quick Guide for Oregon helps schools navigate the School College Cost Meter File layout. It identifies the fields (in accordance with state requirements) that a school will need to populate in creating their School College Cost Meter File.