Code of Virginia
Chapter 26 - Qualified Education Loan Servicers
§ 6.2-2619. Private cause of action

A. A qualified education loan servicer shall:
1. Comply with this chapter.
2. Comply with all applicable federal laws related to qualified education loan servicing, as from time to time amended, and the regulations promulgated thereunder.
B. Any person who suffers damage as a result of the failure of a qualified education loan servicer to comply with the requirements of subdivisions A 1 and 2 may bring an action against that qualified education loan servicer to recover or obtain any of the following:
1. Actual damages, but in no case shall the total award of damages be less than $500 per violation;
2. An order enjoining the methods, acts, or practices;
3. Restitution of property;
4. Punitive damages;
5. Attorney fees; and
6. Any other relief the court deems proper.
C. In addition to any other remedies provided by this section or otherwise provided by law, whenever it is proven by a preponderance of the evidence that a qualified education loan servicer has engaged in conduct that substantially interferes with a borrower's right to (i) an alternative payment arrangement; (ii) loan forgiveness, cancellation, or discharge; or (iii) any other financial benefit as established under the terms of a borrower's promissory note or under the Higher Education Act of 1965, 20 U.S.C. § 1070a et seq., as amended from time to time, and regulations promulgated thereunder, the court shall award treble actual damages to the plaintiff, but in no case shall the award of damages be less than $1,500 per violation.
D. The remedies provided in this section are not intended to be the exclusive remedies available to the qualified education loan borrower, and a qualified education loan borrower shall not be required to exhaust any administrative remedies established pursuant to this chapter or any other applicable law prior to proceeding under this section.
2020, cc. 1198, 1250.

Structure Code of Virginia