IllinoisSB3106104th General Assembly (2025–2026)Senate

PRIVATE EDUCATION LOANS-REPORT

Sponsored By: Michael W. Halpin (Democratic)

In Committee

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.

assignmentshigher education

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Michael W. Halpin

    Democratic • Senate

Cosponsors

  • Adriane L. Johnson

    Democratic • Senate

  • Julie A. Morrison

    Democratic • Senate

  • Mary Edly-Allen

    Democratic • Senate

  • Paul Faraci

    Democratic • Senate

  • Robert Peters

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 13 • No: 0

Senate vote • 2/25/2026

Do Pass Higher Education;

Yes: 13 • No: 0

Bill Text

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