Winger Supports Student Loan Bill of Rights

The House of Representatives voted to override Governor Rauner’s veto of SB1351, a bill that would create the Student Loan Servicing Rights Act. This was an initiative of the Illinois Attorney General’s Office to help address the growing problem of student loan debt and the alleged abuse by student loan servicing companies.

In 2017 the Attorney General’s Office sued Navient, the largest student loan servicer in the country over allegations of abuse on student loan servicing and student loan debt collection. The Attorney General backed this legislative measure to create a student loan bill of rights, so that borrowers can have a greater understanding of the payment processing, billing statements, payment histories, and an overall more transparent process to all aspects of student loans.

This legislation also creates the position of Student Loan Ombudsman within the Office of the Attorney General, which will help provide timely assistance to student loan borrowers who are experiencing problems with loans. In addition, every student loan servicer must be licensed with IDFPR, who are charged with overseeing, investigating, examining, and disciplining servicers for any violations of the Act.

Representative Winger voted in favor of the veto override, recognizing the necessity of providing many Illinois residents and students with more understanding of their rights, responsibilities, and options when it comes to loans.

“Student loans are a heavy burden to bear, and many students after graduating college have trouble navigating their loan debt, as well as understanding the process,” said Winger. “This bill will help ensure that no student is defrauded by loan servicers. It provides a clear process so students understand their rights and know where to turn to for help along the way.”

Rep. Winger was one of 98 lawmakers supporting the measure in the House, allowing the initial veto of the bill to be successfully overridden.

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