Relating to: student loans for postsecondary education, requirements related to student loan servicers, creating an office of the student loan ombudsman in the Department of Financial Institutions, granting rule-making authority, and making an appropriation. (FE)

SB 1041 creates an Office of the Student Loan Ombudsman within the Department of Financial Institutions to assist student loan borrowers in the state. The office will handle complaints, resolve issues with loan servicers, analyze borrower data, and provide information about borrowers' rights under student education loans. It directly affects student loan borrowers (including residents and those sharing repayment responsibility) and student loan servicers (non-state entities managing loans). Key provisions require the ombudsman to monitor loan servicing practices, collaborate with schools and servicers, and make recommendations to improve borrower protections.