Illinois Statutes
§ 7-41 — Refinancing
Illinois·Topic EDUCATION·Ch. 110 HIGHER EDUCATION·Act 110 ILCS 992/ Student Loan Servicing Rights Act.·Art. Article 7 - Educational Income Share Agreements
Before offering a person an EISA that is being used to refinance an existing loan, an EISA provider 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.
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Legislative History
(Source: P.A. 104-383, eff. 8-15-25.)
Nearby Sections
15
§ 7
Rules§ 7-1
§ 7-1§ 7-1.1
Additional powers§ 7-10
§ 7-10§ 7-105
Application of other Acts§ 7-11
§ 7-11§ 7-110
Rulemaking§ 7-12
§ 7-12§ 7-13
§ 7-13§ 7-14
§ 7-14§ 7-15
§ 7-15§ 7-15a
§ 7-15a§ 7-16
§ 7-16