substantial gainful activity. (4) According to the CFPB, more than 90 percent of new private student loans are co-signed. (5) According to the CFPB, private student loan companies provide cosigner release to less than 1 percent of eligible borrowers. 2. Additional student loan protections (a) In general Section 140(g) of the Truth in Lending Act ( 15 U.S.C. 1650(g) ) is amended to read as follows: (g) Additional protections relating to borrower or cosigner of a private education loan (1) Clear and conspicuous description of obligation of borrower and cosigner In the case of any private educational lender that provides a private education loan, the lender shall clearly and conspicuously describe, in writing, the obligations of a cosigner with respect to the loan, including the effect that the death, disability, or inability to engage in any substantial gainful activity of the borrower or any cosigner would have on any such obligation, in language that the Bureau determines would give a reasonable person a reasonable understanding of the obligation being assumed by becoming a cosigner for the loan. (2) Prohibition on automatic default with respect to a performing loan (A) Death, disability, or bankruptcy of cosigner If a private education loan includes a cosigner, a private educational lender may not take any adverse action (including declaring a default, accelerating any loan obligation, increasing the interest rate, or altering any obligations under the private education loan in a way that is adverse to the borrower) against the borrower based on— (i) the death, disability, or inability to engage in any substantial gainful activity of the cosigner