The Code of Virginia directs the State Council of Higher Education for Virginia (SCHEV) to submit an annual report to the House Committees on Commerce and Labor and Education, and the Senate Committees on Commerce and Labor and Education and Health on the implementation and overall effectiveness of the Office of the Qualified Education Loan Ombudsman (§ 23.1-234). Terms associated with the operation of the office are defined in § 23.1-231.

The following are the key findings from the 2023 annual report.

1. The Virginia Student Loan Advocate helped 673 Virginians with education loan issues during its first five years of operation.

2. The main assistance provided included: helping borrowers understand the complexity of their loans, troubleshooting eligibility issues for loan forgiveness, assisting borrowers resume payments and helping those who felt they were defrauded or misled by their institution.

3. Spoke at conferences and events to more than 1,000 people including students, parents, teachers and counselors on student loan issues. Initiated media and social media outreach campaign to help Virginians better understand student loan repayment resumption.

4. Managed Virginia's student loan website (virginiastudentloanhelp.org), which saw approximately 12,000 unique users participate in one or more modules during 2023.

5. The Student Loan Advocate worked with other federal and state advocates to improve the process for the restart of student loan payments.

6. The Student Loan Advocate analyzed data and identified trends in borrower complaints and provided policy recommendations to help borrowers.