110 ILCS 983/30
Current through Public Act 103-1052
Before offering a person a private education loan that is being used to refinance an existing education loan, a private educational lender shall provide the person with a disclosure explaining that the benefits and protections applicable to the existing loan may be lost due to the refinancing. The disclosure must be provided on a one-page information sheet in at least 12-point type and must be written in simple, clear, understandable, and easily readable language.
110 ILCS 983/30