The Attorney General in Illinois wants students to have better protections over their rights when it comes to their student loans. Democrat Lisa Madigan says one in four student borrowers are behind on payments or in default. A bill of rights would make loan companies accurately report all of the options students or former students have from loan forgiveness to repayment options.
For a student loan bill of rights to become law it the bill needs to be overridden by legislature. Governor Bruce Rauner vetoed it already this year saying it was a good idea but it lacked a clear way to accomplish its goals.