1. Short title This Act may be cited as the Student Borrower Advocate Act . 2. Performance-based organization for delivery of Federal student financial assistance (a) PBO Section 141(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1018(f) ) is amended to read as follows: (f) Borrower Advocate (1) In general There is established in the PBO an Office of the Borrower Advocate (referred to in this subsection as the Office ). The function of the Office shall be to provide timely assistance to borrowers of loans made, insured, or guaranteed under title IV by performing the duties described in paragraph (6). (2) Head of Office There shall be an official known as the Borrower Advocate who shall serve as the head of the Office. The Borrower Advocate shall be appointed by the Secretary from among individuals who have worked closely with the Federal student loan programs authorized under title IV. (3) Removal The Borrower Advocate may be removed only by the Secretary who shall communicate the reasons for any such removal to the authorizing committees. (4) Restrictions (A) Preservice and in-service restrictions An individual may not serve as the Borrower Advocate if such individual— (i) is employed by, or has a financial interest in, an entity that contracts with the PBO