Illinois 102nd Regular Session Status: Enacted Bipartisan · 37 D · 6 R cosponsors

HB 2746 — KNOW BEFORE YOU OWE ED LOANS

Last action — Public Act . . . . . . . . . 102-0583

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 18, 2021. Enacted.

Prognosis

Likely to advance 98% · high confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 54 sponsors

    2 primary, 52 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (37 D · 6 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Creates the Know Before You Owe Private Education Loan Act. Requires private educational lenders to obtain from the relevant institution of higher education at which the borrower will use the loan proceeds certifications regarding cost, enrollment status of the borrower, and financial assistance available to the borrower. Provides that private educational lenders must file reports with the Department of Financial and Professional Regulation and the Student Loan Ombudsman. Provides that loan statements must be provided not less frequently than quarterly. Requires institutions of higher education to certify compliance with provisions of the Act to the Board of Higher Education or Illinois Community College Board as a condition to operate. Defines terms. Effective immediately. House Floor Amendment No. 2 Revises a cross-reference to certain certifications required under the Act to be made by an institution of higher education. Senate Committee Amendment No. 1 Defines the term "annual percentage rate" and requires disclosure of that rate. Provides an exemption from reporting for private educational lenders that fund 10 or fewer educational loans in a calendar year. Adds disclosure requirements for income share agreements.

Bill Text

Amendments

3 amendments

Click Show changes on an amendment above to see how it modifies the bill.

Action History

  1. Public Act . . . . . . . . . 102-0583

  2. Effective Date August 26, 2021

  3. Governor Approved

  4. Sent to the Governor

  5. Added Co-Sponsor Rep. Dagmara Avelar

  6. Added Co-Sponsor Rep. Lamont J. Robinson, Jr.

  7. Passed Both Houses

  8. House Concurs

  9. Senate Committee Amendment No. 1 House Concurs 117-000-001

  10. Added as Alternate Co-Sponsor Sen. Dan McConchie

  11. Added as Alternate Co-Sponsor Sen. Jason A. Barickman

  12. Added as Alternate Co-Sponsor Sen. Dave Syverson

  13. Added as Alternate Co-Sponsor Sen. Sally J. Turner

  14. Added as Alternate Co-Sponsor Sen. Craig Wilcox

  15. Added as Alternate Co-Sponsor Sen. John F. Curran

  16. Added as Alternate Co-Sponsor Sen. Donald P. DeWitte

  17. Added as Alternate Co-Sponsor Sen. Sue Rezin

  18. Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Higher Education Committee; 010-000-000

  19. Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Higher Education Committee

  20. Added as Alternate Co-Sponsor Sen. Laura M. Murphy

  21. Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee

  22. Senate Committee Amendment No. 1 Motion Filed Concur Rep. Katie Stuart

  23. Placed on Calendar Order of Concurrence Senate Amendment(s) 1

  24. Arrived in House

  25. Third Reading - Passed; 058-000-000

  26. Added as Alternate Co-Sponsor Sen. Laura Fine

  27. Added as Alternate Chief Co-Sponsor Sen. Patricia Van Pelt

  28. Placed on Calendar Order of 3rd Reading May 24, 2021

  29. Second Reading

  30. Placed on Calendar Order of 2nd Reading May 20, 2021

  31. Do Pass as Amended Higher Education; 011-000-000

  32. Senate Committee Amendment No. 1 Adopted

  33. Senate Committee Amendment No. 1 Assignments Refers to Higher Education

  34. Added as Alternate Co-Sponsor Sen. Meg Loughran Cappel

  35. Added as Alternate Co-Sponsor Sen. Doris Turner

  36. Added as Alternate Co-Sponsor Sen. Adriane Johnson

  37. Added as Alternate Co-Sponsor Sen. Mattie Hunter

  38. Added as Alternate Co-Sponsor Sen. Julie A. Morrison

  39. Senate Committee Amendment No. 1 Referred to Assignments

  40. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Scott M. Bennett

  41. Assigned to Higher Education

  42. Added as Alternate Co-Sponsor Sen. Celina Villanueva

  43. Added as Alternate Co-Sponsor Sen. Linda Holmes

  44. Added as Alternate Co-Sponsor Sen. Sara Feigenholtz

  45. Added as Alternate Co-Sponsor Sen. John Connor

  46. Added as Alternate Co-Sponsor Sen. Kimberly A. Lightford

  47. Added as Alternate Co-Sponsor Sen. Robert Peters

  48. Added as Alternate Co-Sponsor Sen. David Koehler

  49. Added as Alternate Co-Sponsor Sen. Steve Stadelman

  50. Added as Alternate Chief Co-Sponsor Sen. Cristina Castro

  51. Added as Alternate Co-Sponsor Sen. Ram Villivalam

  52. Referred to Assignments

  53. First Reading

  54. Chief Senate Sponsor Sen. Scott M. Bennett

  55. Placed on Calendar Order of First Reading

  56. Arrive in Senate

  57. Added Co-Sponsor Rep. Camille Y. Lilly

  58. Added Co-Sponsor Rep. Sam Yingling

  59. Added Co-Sponsor Rep. Anna Moeller

  60. Added Co-Sponsor Rep. Angelica Guerrero-Cuellar

  61. Third Reading - Short Debate - Passed 113-000-001

  62. Added Co-Sponsor Rep. Theresa Mah

  63. Added Co-Sponsor Rep. Daniel Didech

  64. Placed on Calendar Order of 3rd Reading - Short Debate

  65. House Floor Amendment No. 2 Adopted

  66. Second Reading - Short Debate

  67. Added Chief Co-Sponsor Rep. Aaron M. Ortiz

  68. Added Chief Co-Sponsor Rep. LaToya Greenwood

  69. Added Chief Co-Sponsor Rep. Frances Ann Hurley

  70. Added Co-Sponsor Rep. Michelle Mussman

  71. Added Co-Sponsor Rep. Kelly M. Cassidy

  72. Added Co-Sponsor Rep. Joyce Mason

  73. Added Co-Sponsor Rep. Anne Stava-Murray

  74. Added Co-Sponsor Rep. Bob Morgan

  75. Added Co-Sponsor Rep. Barbara Hernandez

  76. Added Co-Sponsor Rep. Jonathan Carroll

  77. Added Co-Sponsor Rep. Will Guzzardi

  78. Placed on Calendar 2nd Reading - Short Debate

  79. Removed from Consent Calendar Status Rep. Greg Harris

  80. House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000

  81. House Floor Amendment No. 2 Referred to Rules Committee

  82. House Floor Amendment No. 2 Filed with Clerk by Rep. Katie Stuart

  83. Placed on Calendar 2nd Reading - Consent Calendar

  84. Added Co-Sponsor Rep. Elizabeth Hernandez

  85. House Committee Amendment No. 1 Tabled Pursuant to Rule 40

  86. House Committee Amendment No. 1 Referred to Rules Committee

  87. House Committee Amendment No. 1 Filed with Clerk by Rep. Katie Stuart

  88. Do Pass / Consent Calendar Higher Education Committee; 010-000-000

  89. Assigned to Higher Education Committee

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

  91. Removed Co-Sponsor Rep. Maurice A. West, II

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

  93. Added Co-Sponsor Rep. Edgar Gonzalez, Jr.

  94. Added Co-Sponsor Rep. Sue Scherer

  95. Added Co-Sponsor Rep. Carol Ammons

  96. Added Co-Sponsor Rep. Maura Hirschauer

  97. Referred to Rules Committee

  98. First Reading

  99. Added Co-Sponsor Rep. Kambium Buckner

  100. Filed with the Clerk by Rep. Katie Stuart

Sponsors

Sponsorship breakdown

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2 sponsors · 52 co-sponsors · 129 not signed on

Sponsors (2)

Co-sponsors (52)

Not signed on (129)

129 members have not signed on to this bill.

Show all 129 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Concurrence

Passed 117 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 38000
Democrat 54000
Republican 25001
Total 117001
% of votes cast 99%0%0%1%
How each member voted (118)
Member Party Vote
Nichols — Yea
Ozinga — Yea
Batinick — Yea
Ramirez — Yea
Bennett — Yea
Bos — Yea
Bourne — Yea
Robinson — Yea
Harris — Yea
Brady — Yea
Burke — Yea
Butler — Yea
Carroll — Yea
Sommer — Yea
Hurley — Yea
Caulkins — Yea
Jones — Yea
Conroy — Yea
Stoneback — Yea
Luft — Yea
D'Amico — Yea
Davis — Yea
Marron — Yea
Demmer — Yea
Welter — Yea
Mazzochi — Yea
Durkin — Yea
Wheeler — Yea
Flowers — Yea
Willis — Yea
Frese — Yea
Yednock — Yea
Yingling — Yea
Zalewski — Yea
Greenwood — Yea
Costa Howard — Yea
Williams, Jawaharial — Yea
Yang Rohr — Yea
Aarón M. Ortíz Democrat Yea
Angelica Guerrero-Cuellar Democrat Yea
Ann M. Williams Democrat Yea
Anna Moeller Democrat Yea
Anne Stava Democrat Yea
Anthony DeLuca Democrat Yea
Barbara Hernandez Democrat Yea
Bob Morgan Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Yea
Curtis J. Tarver, II Democrat Yea
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Dave Vella Democrat Yea
Debbie Meyers-Martin Democrat Yea
Edgar González, Jr. Democrat Yea
Elizabeth "Lisa" Hernandez Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Eva-Dina Delgado Democrat Yea
Fred Crespo Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Jennifer Gong-Gershowitz Democrat Yea
Joyce Mason Democrat Yea
Julie A. Morrison Democrat Yea
Justin Slaughter Democrat Yea
Kam Buckner Democrat Yea
Katie Stuart Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Lindsey LaPointe Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Martin J. Moylan Democrat Yea
Maura Hirschauer Democrat Yea
Maurice A. West, II Democrat Yea
Michael W. Halpin Democrat Yea
Michelle Mussman Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robyn Gabel Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Yea
Suzanne M. Ness Democrat Yea
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
Adam M. Niemerg Republican Yea
Amy Elik Republican Yea
Amy L. Grant Republican Not Voting
Andrew S. Chesney Republican Yea
Blaine Wilhour Republican Yea
Brad Halbrook Republican Yea
Brad Stephens Republican Yea
Charles Meier Republican Yea
Chris Miller Republican Yea
Christopher "C.D." Davidsmeyer Republican Yea
Dan Swanson Republican Yea
Daniel J. Ugaste Republican Yea
Dave Severin Republican Yea
David Friess Republican Yea
Jackie Haas Republican Yea
Jeff Keicher Republican Yea
Joe C. Sosnowski Republican Yea
Martin McLaughlin Republican Yea
Norine K. Hammond Republican Yea
Patrick Windhorst Republican Yea
Paul Jacobs Republican Yea
Ryan Spain Republican Yea
Seth Lewis Republican Yea
Steven Reick Republican Yea
Tom Weber Republican Yea
Tony M. McCombie Republican Yea

Third Reading

Passed 58 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 25001
Unaffiliated 19000
Republican 14000
Total 58001
% of votes cast 98%0%0%2%
How each member voted (59)
Member Party Vote
Gillespie — Yea
Harris — Yea
Bailey — Yea
Barickman — Yea
Bennett — Yea
Johnson — Yea
Stewart — Yea
Bush — Yea
Stoller — Yea
Landek — Yea
Connor — Yea
Crowe — Yea
Cullerton, T. — Yea
Muñoz — Yea
Pacione-Zayas — Yea
Glowiak Hilton — Yea
Loughran Cappel — Yea
Simmons, Mike — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
Celina Villanueva Democrat Yea
Christopher Belt Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Not Voting
Doris Turner Democrat Yea
Elgie R. Sims, Jr. Democrat Yea
Emil Jones, III Democrat Yea
Julie A. Morrison Democrat Yea
Karina Villa Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura Ellman Democrat Yea
Laura Fine Democrat Yea
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Omar Aquino Democrat Yea
Patrick J. Joyce Democrat Yea
Ram Villivalam Democrat Yea
Robert F. Martwick Democrat Yea
Robert Peters Democrat Yea
Sara Feigenholtz Democrat Yea
Steve Stadelman Democrat Yea
Chapin Rose Republican Yea
Craig Wilcox Republican Yea
Dale Fowler Republican Yea
Dan McConchie Republican Yea
Dave Syverson Republican Yea
Donald P. DeWitte Republican Yea
Jason Plummer Republican Yea
Jil Tracy Republican Yea
John F. Curran Republican Yea
Neil Anderson Republican Yea
Sally J. Turner Republican Yea
Steve McClure Republican Yea
Sue Rezin Republican Yea
Terri Bryant Republican Yea

Third Reading

Passed 113 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Republican 24002
Democrat 51003
Unaffiliated 38000
Total 113005
% of votes cast 96%0%0%4%
How each member voted (118)
Member Party Vote
Ozinga — Yea
Batinick — Yea
Ramirez — Yea
Bennett — Yea
Bos — Yea
Bourne — Yea
Robinson — Yea
Harris — Yea
Brady — Yea
Burke — Yea
Butler — Yea
Carroll — Yea
Sommer — Yea
Hurley — Yea
Caulkins — Yea
Jones — Yea
Conroy — Yea
Stoneback — Yea
Luft — Yea
D'Amico — Yea
Davis — Yea
Marron — Yea
Demmer — Yea
Welter — Yea
Mazzochi — Yea
Durkin — Yea
Wheeler — Yea
Flowers — Yea
Willis — Yea
Frese — Yea
Yednock — Yea
Yingling — Yea
Zalewski — Yea
Greenwood — Yea
Nichols — Yea
Costa Howard — Yea
Williams, Jawaharial — Yea
Yang Rohr — Yea
Aarón M. Ortíz Democrat Yea
Angelica Guerrero-Cuellar Democrat Yea
Ann M. Williams Democrat Yea
Anna Moeller Democrat Yea
Anne Stava Democrat Yea
Anthony DeLuca Democrat Not Voting
Barbara Hernandez Democrat Yea
Bob Morgan Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Not Voting
Curtis J. Tarver, II Democrat Yea
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Dave Vella Democrat Yea
Debbie Meyers-Martin Democrat Yea
Edgar González, Jr. Democrat Yea
Elizabeth "Lisa" Hernandez Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Eva-Dina Delgado Democrat Yea
Fred Crespo Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Not Voting
Jennifer Gong-Gershowitz Democrat Yea
Joyce Mason Democrat Yea
Julie A. Morrison Democrat Yea
Justin Slaughter Democrat Yea
Kam Buckner Democrat Yea
Katie Stuart Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Lindsey LaPointe Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Martin J. Moylan Democrat Yea
Maura Hirschauer Democrat Yea
Maurice A. West, II Democrat Yea
Michael W. Halpin Democrat Yea
Michelle Mussman Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robyn Gabel Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Yea
Suzanne M. Ness Democrat Yea
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
Adam M. Niemerg Republican Yea
Amy Elik Republican Yea
Amy L. Grant Republican Not Voting
Andrew S. Chesney Republican Yea
Blaine Wilhour Republican Yea
Brad Halbrook Republican Yea
Brad Stephens Republican Yea
Charles Meier Republican Yea
Chris Miller Republican Not Voting
Christopher "C.D." Davidsmeyer Republican Yea
Dan Swanson Republican Yea
Daniel J. Ugaste Republican Yea
Dave Severin Republican Yea
David Friess Republican Yea
Jackie Haas Republican Yea
Jeff Keicher Republican Yea
Joe C. Sosnowski Republican Yea
Martin McLaughlin Republican Yea
Norine K. Hammond Republican Yea
Patrick Windhorst Republican Yea
Paul Jacobs Republican Yea
Ryan Spain Republican Yea
Seth Lewis Republican Yea
Steven Reick Republican Yea
Tom Weber Republican Yea
Tony M. McCombie Republican Yea

Subjects

finance education
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Frequently asked questions

What does HB 2746 do?
Creates the Know Before You Owe Private Education Loan Act. Requires private educational lenders to obtain from the relevant institution of higher education at which the borrower will use the loan proceeds certifications regarding cost, enrollment status of the borrower, and financial assistance available to the borrower. Provides that private educational lenders must file reports with the Department of Financial and Professional Regulation and the Student Loan Ombudsman. Provides that loan statements must be provided not less frequently than quarterly. Requires institutions of higher education to certify compliance with provisions of the Act to the Board of Higher Education or Illinois Community College Board as a condition to operate. Defines terms. Effective immediately. House Floor Amendment No. 2 Revises a cross-reference to certain certifications required under the Act to be made by an institution of higher education. Senate Committee Amendment No. 1 Defines the term "annual percentage rate" and requires disclosure of that rate. Provides an exemption from reporting for private educational lenders that fund 10 or fewer educational loans in a calendar year. Adds disclosure requirements for income share agreements.
Who sponsors HB 2746?
HB 2746 is sponsored by Katie Stuart (Democrat), Maurice A. West, II (Democrat), Frances Ann Hurley, Anne Stava (Democrat), LaToya Greenwood, Aarón M. Ortíz (Democrat), Camille Y. Lilly (Democrat), Kam Buckner (Democrat), Maura Hirschauer (Democrat), Carol Ammons (Democrat), Sue Scherer (Democrat), Edgar González, Jr. (Democrat), Loughran Cappel, Will Guzzardi (Democrat), Jonathan Carroll, Barbara Hernandez (Democrat), Bob Morgan (Democrat), Joyce Mason (Democrat), Kelly M. Cassidy (Democrat), Michelle Mussman (Democrat), Daniel Didech (Democrat), Theresa Mah (Democrat), Angelica Guerrero-Cuellar (Democrat), Anna Moeller (Democrat), Sam Yingling, Lamont J. Robinson, Jr., Dagmara Avelar (Democrat), Scott M. Bennett, Cristina Castro (Democrat), Ram Villivalam (Democrat), Steve Stadelman (Democrat), David Koehler (Democrat), Robert Peters (Democrat), Kimberly A. Lightford (Democrat), John Connor, Sara Feigenholtz (Democrat), Mattie Hunter (Democrat), Linda Holmes (Democrat), Celina Villanueva (Democrat), Julie A. Morrison (Democrat), Adriane L. Johnson (Democrat), Doris Turner (Democrat), Laura Fine (Democrat), Laura M. Murphy (Democrat), Sue Rezin (Republican), Donald P. DeWitte (Republican), John F. Curran (Republican), Craig Wilcox (Republican), Sally J. Turner (Republican), Dave Syverson (Republican), Jason A. Barickman, Dan McConchie, Elizabeth "Lisa" Hernandez (Democrat), and Van Pelt.
What is the current status of HB 2746?
This bill has been enacted into law. Introduced February 18, 2021. Enacted.
Where can I track HB 2746?
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