“Making higher education more affordable in Illinois is one of the best things we can do for the next generation of students,” Pappas said. “Families of kids going into college deserve cheap, easy-to-understand student loans. Too often, graduates are blindsided by fees and unforeseen debt obligations when they start paying loans back, and they deserve more clarity.”
Pappas, as part of her continued commitment to affordable education, is cosponsoring House Bill 5320, which requires companies working in student debt relief services to disclose certain specifics about their company in contracts and advertising. These specifics include notifying potential borrowers that the company is not part of the Department of Education, the company is a private entity, and that consolidation and extended repayment options are available.
“We can build a stronger future for Illinois if we provide higher education opportunities that don’t saddle young people with a lifetime of debt,” Pappas said. “While I will continue to fight for lower costs and greater financial assistance for higher education, this legislation will help students and their families manage burdens they are currently handling.”