New Student Loan Borrower Bill of Rights Amendment Act of 2023

This bill updates the District of Columbia's insurance laws to protect students by defining and preventing abusive practices by private education lenders and loan servicers. It requires the creation of a revised Student Loan Borrower Bill of Rights by January 1, 2025, and clarifies the rights of borrowers regarding fees, payments, and loan terms. The legislation also establishes specific rules for handling cosigners and disability discharges, while automatically granting limited servicing licenses to federal loan servicers that meet certain criteria. Additionally, it empowers the Attorney General to take legal action against entities that violate these new consumer protection standards.