5 ILCS 385/0.01
Short title
Short title. This Act may be cited as the Educational Loan Default Act. (Source: P.A. 86-1324.)
Illinois Compiled Statutes 5 ILCS 385 — Educational Loan Default Act. (Repealed by P.A. 104-672)
Illinois · statute · 5 ILCS 385 · 4 active provisions
5 ILCS 385/1
Definitions
Definitions. As used in this Act, unless the context otherwise requires: (a) "Educational loan" means any loan guaranteed by the State Scholarship Commission under the Higher Education Student Assistance Law, any education loan made by an institution of higher education from the proceeds of a loan to the institution by…
5 ILCS 385/2
(a) Any employee of a State agency who is in default on the repayment of any educational loan for a period of 6 months or more and in an amount of $600 or more shall, as a condition of employment, make a satisfactory loan repayment arrangement with the maker or guarantor of the loan. (b) As of the effective date of thi…
5 ILCS 385/3
No State agency shall contract with an individual for goods or services if that individual is in default, as defined in Section 2 of this Act, on an educational loan
No State agency shall contract with an individual for goods or services if that individual is in default, as defined in Section 2 of this Act, on an educational loan. Any contract used by any State agency shall include a statement certifying that the individual is not in default on an educational loan as provided in th…