The Code of Virginia directs the State Council of Higher Education for Virginia (SCHEV) to submit an annual report to the House Committees on Labor, and Commerce 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 2024 annual report.

1. The Office of the Education Loan Ombudsman has helped 831 Virginians with education loan issues during its first six years of operation.

2. Primary services included: helping borrowers understand the complexity of their loans, troubleshooting eligibility issues for loan forgiveness, assisting borrowers to resume payments and helping those who felt they were defrauded or misled by their institutions.

3. The Student Loan Advocate delivered presentations to more than 500 students, parents, teachers and counselors at conferences and events hosted across the Commonwealth in its first six years of operation. Further, the Advocate launched media and social media outreach campaigns to help Virginians better understand student loan repayment resumption.

4. The Student Loan Advocate managed Virginia's student loan website (virginiastudentloanhelp.org), which saw approximately 25,000 unique users participate in one or more education modules during 2024.

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, informing the development of policy recommendations to help borrowers.