Bill Sponsors: IL SB0086 | 2023-2024 | 103rd General Assembly

Bill Title: Reinserts the provisions of the introduced bill with the following changes. Moves specified provisions regarding cosigner release, cosigner rights, what happens in the event of the bankruptcy or death of a cosigner, the total and permanent disability of a borrower or cosigner, and modified or flexible repayment plans from the Know Before You Owe Private Education Loan Act to the Student Loan Servicing Rights Act, and makes conforming changes. Further amends the Student Loan Servicing Rights Act to change the definition of "cosigner". Effective immediately.

Spectrum: Partisan Bill (Democrat 10-0)

Status: (Enrolled) 2024-05-09 - Passed Both Houses [SB0086 Detail]

Text: Latest bill text (Enrolled) [HTML]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Senator Laura Fine [D]PrimarySponsored BillsSD-009FollowTheMoneyBallotpediaVoteSmart
Senator Adriane Johnson [D]CosponsorSponsored BillsSD-030N/ABallotpediaVoteSmart
Senator Cristina Pacione-Zayas [D]CosponsorSponsored BillsSD-020FollowTheMoneyBallotpediaVoteSmart
Senator Mike Simmons [D]CosponsorSponsored BillsSD-007N/ABallotpediaVoteSmart
Representative Katie Stuart [D]PrimarySponsored BillsHD-112FollowTheMoneyBallotpediaVoteSmart
Representative Diane Blair-Sherlock [D]CosponsorSponsored BillsHD-046FollowTheMoneyBallotpediaVoteSmart
Representative Will Guzzardi [D]CosponsorSponsored BillsHD-039FollowTheMoneyBallotpediaVoteSmart
Representative Gregg Johnson [D]CosponsorSponsored BillsHD-072FollowTheMoneyBallotpediaVoteSmart
Representative Anna Moeller [D]CosponsorSponsored BillsHD-043FollowTheMoneyBallotpediaVoteSmart
Representative Norma Hernandez [D]CosponsorSponsored BillsHD-077FollowTheMoneyBallotpediaVoteSmart

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