1351SPRINGFIELD – State Senator Cristina Castro (D-Elgin) voted last week to override the governor’s veto of Senate Bill 1351 and to protect college students from overwhelming amounts of debt upon graduation.

Castro co-sponsored Senate Bill 1351, which creates the Student Loan Servicing Rights Act which would create a Student Loan Bill of Rights. The Student Loan Bill of Rights would prohibit loan servicers from taking advantage of students and parents.

“Some companies knowingly put students in risky loans that are overly expensive,” Castro said. “As legislators we need to do everything in our power at the state level to protect our students from being taken advantage of by the student loan industry. More and more students are coming out of college with enormous amounts of debt.”

Student loan debt has become the largest form of unsecured consumer debt in the United States with one in four borrowers being in default or behind on their payment.

“Students and their families deserve to be informed and given resources to prevent them from making mistakes they didn’t know they were making, like falling behind on payments,” said Castro. “Governor Rauner’s veto is another example of him putting profit over people.”

The Senate overrode the governor’s veto on Senate Bill 1351 and now heads to the House for consideration.

Category: News

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