Requires registration of private education lenders; establishes protections for private education borrowers.

This bill requires private education lenders to register with New Jersey's Commissioner of Banking and Insurance before extending loans to state residents. It directly affects private education lenders (excluding federally chartered banks/credit unions) and New Jersey borrowers seeking private education loans. The key mechanism mandates registration with the state, establishing a fee collection process to oversee lenders. The bill also creates protections for borrowers, though specific details on these protections aren't detailed in the provided text. It does not apply to federally regulated institutions or certain short-term student financing arrangements.