AB948,,2626(b) A savings bank organized under ch. 214. AB948,,2727(c) A savings and loan association organized under ch. 215. AB948,,2828(d) A credit union organized under ch. 186. AB948,,2929(e) A consumer lender licensed under s. 138.09. AB948,,3030(7) “Student education loan” means a loan that is extended to a student loan borrower expressly for postsecondary education expenses or related expenses and does not include open-end credit or any loan that is secured by real property. AB948,,3131(8) “Student loan borrower” means any of the following: AB948,,3232(a) A resident of this state who has received or agreed to pay a student education loan. AB948,,3333(b) A person who shares legal responsibility with a resident under par. (a) for repaying the student education loan. AB948,,3434(9) “Student loan servicer” means a person, wherever located, responsible for the servicing of a student education loan, but does not include the board or any state-regulated financial service provider. AB948,,3535224.102 Ombudsman services. The office shall do all of the following: AB948,,3636(1) Provide timely assistance to student loan borrowers. AB948,,3737(2) Receive, review, and attempt to resolve complaints from all of the following: AB948,,3838(a) Student loan borrowers. AB948,,3939(b) In collaboration with institutions of higher education, student loan servicers and any other participants in student education loan lending, including originators servicing their own student education loans. AB948,,4040(3) Compile and analyze data on student loan borrower complaints as described in sub. (2) and as resolved under s. 224.104. AB948,,4141(4) Assist student loan borrowers in understanding their rights and responsibilities under the terms of student education loans. AB948,,4242(5) Provide information to the public, agencies, the legislature, and others regarding the problems and concerns of student loan borrowers and make recommendations for resolving those problems and concerns. AB948,,4343(6) Analyze and monitor the development and implementation of federal, state, and local laws, ordinances, regulations, rules, and policies relating to student loan borrowers and recommend any necessary changes. AB948,,4444(7) Review, as authorized and appropriate, the complete student education loan history for a student loan borrower who provides written consent for the review. AB948,,4545(8) Provide sufficient outreach and disseminate information concerning the availability of the office to assist student loan borrowers and potential student loan borrowers, public institutions of higher education, student loan servicers, and any other participants in student education loan lending with any student education loan servicing concerns. AB948,,4646(9) Seek the assistance of an exempt organization in the resolution of a student loan borrower complaint as described in sub. (2) involving that exempt organization. The exempt organization shall cooperate with the office as required by s. 224.104. AB948,,4747(10) Take any other action necessary to fulfill the duties of the office as set forth in this subchapter. AB948,,4848224.103 Annual report. The office shall submit a report by January 1 of each year to the standing committee of each house of the legislature having jurisdiction over matters related to higher education. The report shall include all of the following: AB948,,4949(1) A description of actions taken with respect to the implementation of this subchapter. AB948,,5050(2) An assessment of the overall effectiveness of the office, including information, in the aggregate, regarding student loan borrower complaints investigated with the assistance of an exempt organization. AB948,,5151(3) Recommendations regarding additional steps for the department to gain regulatory control over licensing and enforcement with respect to student loan servicers. AB948,,5252224.104 Assistance by exempt organizations; report. (1) An exempt organization that is requested by the office to provide assistance under s. 224.102 (9) shall provide, in a timely manner, the information requested by the office necessary to investigate and resolve a student loan borrower complaint, including the steps taken by the exempt organization to resolve the complaint, or, on its own, shall resolve, in a timely manner, the complaint and provide the office with documentation regarding the resolution. AB948,,5353(2) Annually, an exempt organization that is involved in the resolution of a complaint under this section shall report to the office the number of complaints received and the number of complaints resolved by the exempt organization. AB948,,5454224.105 Licensing of student loan servicers. (1) A person, wherever located, may not directly or indirectly engage in servicing student education loans in this state without first obtaining a license from the office under this section, unless the person is exempt from licensure under sub. (2).