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Summary: HB 3198 would require a cosigner or guarantor on a student's loan from the Texas Higher Education Coordinating (THECB) to provide payment if a student defaults on a loan. In addition, it would allow but not require the Attorney General to sue for the unpaid amount and would localize all suits to take place in Travis County.
Analysis: HB 3198 would hold cosigners and guarantors responsible to pay for debts on student loans that they signed for. This would aid in ensuring repayment from individuals who are responsible. We support HB 3198.