IllinoisHB4754104th General Assembly (2025–2026)House

PRIVATE EDUCATION LOANS-REPORT

Sponsored By: Sponsor information unavailable

Signed by Governor

Summary

Amends the Know Before You Owe Private Education Loan Act. Provides that the annual report to the Department of Financial and Professional Regulation and the Student Loan Ombudsman shall include the total number and dollar amount (instead of the volume) of private education loans made annually by a private educational lender, the total number and dollar amount (instead of the volume) of private education loans made annually at institutions of higher education, the total number and dollar amount of private education loans made annually with a cosigner, and the default rate for the private education loans reported by the private educational lender pursuant to specified provisions for the previous reporting period. Effective immediately.

financial institutions and licensingassignments

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • Carol Ammons

    Democratic • House

  • Jawaharial Williams

    Democratic • House

  • Katie Stuart

    Democratic • House

  • Margaret Croke

    Democratic • House

  • Michael W. Halpin

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 166 • No: 0

Senate vote • 5/14/2026

Third Reading - Passed;

Yes: 58 • No: 0

House vote • 4/9/2026

Third Reading - Short Debate - Passed

Yes: 97 • No: 0

House vote • 2/24/2026

Do Pass / Short Debate Financial Institutions and Licensing Committee;

Yes: 11 • No: 0

Actions Timeline

  1. Public Act . . . . . . . . . 104-0504

    6/26/2026House
  2. Effective Date June 26, 2026

    6/26/2026House
  3. Governor Approved

    6/26/2026House
  4. Sent to the Governor

    6/12/2026House
  5. Passed Both Houses

    5/14/2026House
  6. Third Reading - Passed; 058-000-000

    5/14/2026Senate
  7. Placed on Calendar Order of 3rd Reading May 5, 2026

    4/30/2026Senate
  8. Second Reading

    4/30/2026Senate
  9. Placed on Calendar Order of 2nd Reading April 28, 2026

    4/22/2026Senate
  10. Approved for Consideration Assignments

    4/22/2026Senate
  11. Referred to Assignments

    4/10/2026Senate
  12. First Reading

    4/10/2026Senate
  13. Chief Senate Sponsor Sen. Michael W. Halpin

    4/10/2026Senate
  14. Placed on Calendar Order of First Reading

    4/10/2026Senate
  15. Arrive in Senate

    4/10/2026Senate
  16. Added Chief Co-Sponsor Rep. Carol Ammons

    4/9/2026House
  17. Third Reading - Short Debate - Passed 097-000-000

    4/9/2026House
  18. Placed on Calendar Order of 3rd Reading - Short Debate

    4/8/2026House
  19. Second Reading - Short Debate

    4/8/2026House
  20. Added Chief Co-Sponsor Rep. Jawaharial Williams

    3/6/2026House
  21. Placed on Calendar 2nd Reading - Short Debate

    2/25/2026House
  22. Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000

    2/24/2026House
  23. Added Chief Co-Sponsor Rep. Katie Stuart

    2/19/2026House
  24. Assigned to Financial Institutions and Licensing Committee

    2/17/2026House
  25. Referred to Rules Committee

    2/6/2026House

Bill Text

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