SB3106 - 104th General Assembly (2025-2026)

PRIVATE EDUCATION LOANS-REPORT
Last Action
2/10/2026 - Senate: Assigned to Higher Education
Senate Sponsors
Sen. Michael W. Halpin
Statutes Amended In Order of Appearance
110 ILCS 983/5  
110 ILCS 983/10  
Synopsis As Introduced
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.
Actions
DateChamberAction
1/29/2026SenateFiled with Secretary by Sen. Michael W. Halpin
1/29/2026SenateFirst Reading
1/29/2026SenateReferred to Assignments
2/10/2026SenateAssigned to Higher Education