Andrade Votes to Override Rauner’s Veto of Student Loan “Bill of Rights”

CHICAGO – State Rep. Jaime Andrade, D-Chicago, recently voted to override the governor’s veto of bipartisan legislation to create a student loan “bill of rights.”

“As someone who is pursuing higher education and relying on student loans, I understand the burden that these loans can place on an individual or family trying to make ends meet,” Andrade said. “We should focus on academic lenders the same way we monitor other industries for unethical business practices.”

Andrade sponsored and voted to override the governor’s veto of Senate Bill 1351, which in addition to establishing a Student Loan Bill of Rights, also creates a Student Loan Ombudsman within the Office of the Attorney General to assist students with any questions about the loan servicing process. The legislation also allows the attorney general to enforce provisions that prohibit student loan servicers from engaging in unfair business practices. The measure also requires that student loan vendors be licensed by the Department of Financial and Professional Regulation. The governor’s veto of this legislation jeopardized these protections for students.

“Young people shouldn’t be forced to sacrifice starting a family or purchasing a house because they were victimized by predatory lenders in their pursuit of higher education,” Andrade said. “We can and should do more to protect student loan borrowers and ensure that they are not taken advantage of.”