(1) This part 1 applies to any person engaged in servicing a student education loan owed by an individual who is a resident of this state. For the purposes of this article 20, the residence of an individual is the address given by the individual as the individual's residence to the creditor or to the student loan servicer. Until an individual notifies the creditor or the student loan servicer of a new or different address, the given address is presumed to be unchanged.(2) Part 2 of this article 20 applies to private education creditors and collection agencies in connection with student education loans that are not made, insured, or guaranteed under federal law and that are used for postsecondary education.Amended by 2023 Ch. 360,§ 15, eff. 8/7/2023.Amended by 2021 Ch. 378, §3, eff. 6/29/2021.Added by 2019 Ch. 157, §2, eff. 8/2/2019.L. 2019: Entire article added, (SB 19-002), ch. 1856, p. 1856, § 2, effective August 2. Section 19 of chapter 378 (SB 21-057), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.2023 Ch. orado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.2023 Ch. 360, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
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