HB 5320

  • Illinois House Bill
  • 101st Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Student Loan Debt Relief

Abstract

Amends the Debt Settlement Consumer Protection Act. Adds student loan borrowers to the definition of "consumer". Adds to the definition of "debt settlement provider" any person or entity engaging in, or holding itself out as engaging in, or any person who solicits for or acts on behalf of such person or entity engaging in or holding itself out as engaging in, the business of student loan debt relief services in exchange for any fee or compensation assessed against or charged to a consumer. Excludes institutions of higher education from the definition of "debt settlement provider". Defines other terms. Requires a specified notice and disclosure to student loan borrowers to be included in advertising and marketing communications concerning student loan debt relief services. Requires providers of student loan debt relief services to provide a specified notice and disclosure before a student loan borrower signs a contract. Provides that any fees charged to a student loan borrower in exchange for student loan debt relief shall comply with a provision concerning fees. Makes other changes. Effective immediately.

Bill Sponsors (27)

La Shawn K. Ford

     
Cosponsor

Jay Hoffman

     
Cosponsor

Votes


No votes to display

Actions


Jun 02, 2020

House

Added Co-Sponsor Rep. Mary Edly-Allen

Mar 12, 2020

House

Assigned to Higher Education Committee

Mar 09, 2020

House

Added Co-Sponsor Rep. Jay Hoffman

Mar 05, 2020

House

Added Co-Sponsor Rep. Kambium Buckner

House

Added Co-Sponsor Rep. Elizabeth Hernandez

House

Added Co-Sponsor Rep. Edgar Gonzalez, Jr.

Mar 04, 2020

House

Added Co-Sponsor Rep. Dan Brady

House

Added Co-Sponsor Rep. Kelly M. Burke

House

Added Co-Sponsor Rep. Keith R. Wheeler

House

Added Co-Sponsor Rep. Jeff Keicher

House

Added Co-Sponsor Rep. John Connor

House

Added Co-Sponsor Rep. Martin J. Moylan

House

Added Co-Sponsor Rep. La Shawn K. Ford

House

Added Co-Sponsor Rep. Dave Severin

House

Added Co-Sponsor Rep. Michael T. Marron

Mar 03, 2020

House

Added Chief Co-Sponsor Rep. Katie Stuart

House

Added Co-Sponsor Rep. Emanuel Chris Welch

House

Added Co-Sponsor Rep. Monica Bristow

House

Added Co-Sponsor Rep. Maurice A. West, II

House

Added Co-Sponsor Rep. Diane Pappas

House

Added Co-Sponsor Rep. Terri Bryant

Feb 27, 2020

House

Added Chief Co-Sponsor Rep. Norine K. Hammond

House

Added Co-Sponsor Rep. Frances Ann Hurley

House

Added Co-Sponsor Rep. Nicholas K. Smith

House

Added Co-Sponsor Rep. Terra Costa Howard

House

Added Chief Co-Sponsor Rep. Carol Ammons

Feb 26, 2020

House

Added Co-Sponsor Rep. Michael Halpin

Feb 18, 2020

House

First Reading

House

Referred to Rules Committee

Feb 14, 2020

House

Filed with the Clerk by Rep. Michael J. Zalewski

Bill Text

Bill Text Versions Format
Introduced HTML

Related Documents

Document Format
No related documents.

Sources

Data on Open States is updated nightly from the official website of the Illinois General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.