1. Short title This Act may be cited as the Student Loan Reform Act . 2. Institutional cosigner program Part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq.) is amended by inserting after section 454 the following: 454A. Institutional cosigner program (a) Program required Beginning on July 1, 2020, the Secretary shall carry out a program under which an institution of higher education may elect to cosign all eligible direct loans made to students enrolled at the institution for an academic year. (b) Agreement with Secretary To be eligible to participate in the program under this section for an academic year, an institution of higher education shall enter into an agreement with the Secretary under which the institution agrees to the following: (1) The institution will cosign all new eligible direct loans made to students enrolled at the institution for such academic year. (2) With respect to each such loan, the institution will abide by the terms and conditions of cosigner liability described in subsection (d). (c) Master promissory note As part of the program under this section, the Secretary shall— (1) revise the master promissory note applicable to each eligible direct loan to include— (A) the terms and conditions of cosigner and borrower liability described in subsection (d); (B) the interest rate for the loan, as determined under subsection (e); and (C) a field in which an authorized representative of an institution participating in the program may cosign the note on behalf of the institution