HB4754 - 104th General Assembly (2025-2026)

PRIVATE EDUCATION LOANS-REPORT
Last Action
2/17/2026 - House: Assigned to Financial Institutions and Licensing Committee
Hearings
Financial Institutions and Licensing Committee Hearing Feb 24 2026 4:00PM Capitol Building Room 122 Springfield, IL
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
2/02/2026HouseFiled with the Clerk by Rep. Margaret Croke
2/06/2026HouseFirst Reading
2/06/2026HouseReferred to Rules Committee
2/17/2026HouseAssigned to Financial Institutions and Licensing Committee
2/19/2026HouseAdded Chief Co-Sponsor Rep. Katie Stuart