Student Borrower Bill of Rights Act of 2007

[AI summary unavailable — showing source text] Student Borrower Bill of Rights Act of 2007 - Urges the Department of Education to enforce vigorously rules requiring lenders to complete lender verification certificates in a timely manner for borrowers seeking to consolidate loans. Amends the Higher Education Act of 1965 to require specified loan participants under the Federal Family Education Loan (FFEL) and Federal Perkins Loan programs to disclose to each national credit bureau organization any on-time payments made for such loans and their status as student loans. Requires FFEL consolidation loan borrowers or lenders to pay the Department 1% of the balance owed on the sum of such loans to obtain a subsequent FFEL consolidation loan. Allows borrowers to refinance Federal Direct Consolidation Loans. Creates a student borrower bill of rights. Requires the Secretary to limit a federal student loan borrower's monthly payments on the basis of the borrower's income. Revises the requirement that the Secretary discharge the liability of a permanently and totally disabled borrower by repaying the amount owed on the loan. Requires such a discharge even if a borrower, although not permanently and totally disabled, is unable to engage in …