Illinois policymakers are taking several steps to address the burden of student loans by rounding out financial aid offerings to include supplemental aid for food, a student loan bill of rights, and post-college debt relief aid.
This bill targets low-income community college students who are food insecure. About 48 percent of students report a lack of access to food. This bill ensures those students will get information about the Supplemental Nutrition Assistance Program (SNAP) for which they may be eligible, based on income information from the FAFSA.
The Illinois Student Assistance Commission will inform community colleges of potentially eligible students electronically. In addition to eligibility information, they will also receive the Application for Benefits Eligibility website address and the Illinois Hunger Coalition’s Hunger Hotline number. The college will reach out to students directly with this information and help them take steps to enroll in SNAP if eligible.
House Bill 3211 passed in both the house and the senate.
This bill does three things to protect student borrowers:
The Student Loan Servicing Rights Act passed both the senate and the house.
The College Affordability Act provides financial assistance and loan debt relief Illinois students. The goal is to keep reduce student debt and keep students in Illinois to contribute to the local economy (other states are doing this as well).
This act includes three programs:
These programs would all start in the 2018-2019 school year.
The College Affordability Act passed the house and is awaiting action in the senate.
Options are available to help
Most people do not realize that there are programs designed to help those who may be struggling with their student loan payments. Thousands of borrowers have trusted Ameritech Financial to be their advocate. Click here to find out what options are available. Our services could help you get back on track.Get Started Learn More