1. Short title This Act may be cited as the Justice for Student Borrowers Act . 2. Purpose The purpose of this Act is to— (1) prohibit private educational lenders from using predispute arbitration agreements in their private education loans; and (2) to prohibit private educational lenders from using predispute joint-action waivers in their private education loans. 3. Arbitration of private education loan disputes (a) In general Title 9 of the United States Code is amended by adding at the end the following: 4 Arbitration of Private Education Loan Disputes 401. Definitions. 402. No validity or enforceability. 401. Definitions In this chapter— (1) the term private education loan has the meaning given that term under section 140 of the Truth in Lending Act; (2) the term predispute arbitration agreement means an agreement to arbitrate a dispute that has not yet arisen at the time of the making of the agreement