Bill Texts: IL SB0059 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Know Before You Owe Private Education Loan Act. Provides that the information regarding loans shall be provided to borrowers and cosigners (instead of just borrowers). Sets forth provisions for cosigner disclosure and notice, 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 refinancing and modified or flexible repayment plans. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2023-01-20 - Referred to Assignments [SB0059 Detail]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2023-01-20 - Referred to Assignments [SB0059 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|---|---|---|---|
| Introduced | 2023-01-20 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
|---|---|---|---|---|---|
| No bill amendments currently on file for Illinois SB0059 | |||||
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|---|---|---|---|---|
| No supplemental documents for Illinois SB0059 currently on file. | |||||
