GRAYSLAKE – In an effort to help people struggling to pay their student loans during the unprecedented economic challenges facing the state and country, state Sen. Melinda Bush, D-Grayslake, highlighted relief options that could benefit nearly 140,000 Illinoisans.
“If you are struggling with student loan debt, please contact your loan providers immediately to discuss a repayment plan that incorporates expanded relief options during the COVID-19 crisis,” Bush said in a news release. “Illinoisans should not have to worry about how they will repay their student loans during a national crisis.”
Under the initiative, spearheaded by Gov. JB Pritzker and Secretary Deborah Hagan of the Illinois Department of Financial and Professional Regulation, people with commercially owned Federal Family Education Program Loans or privately held student loans who are having a hard time making their payments due to COVID-19 will be eligible for expanded relief.
Borrowers who need assistance are asked to immediately contact their student loan provider to set up a plan.
If a person is having problems contacting their student loan servicer, they can call the Illinois Department of Financial and Professional Regulation Division of Banking at 217-785-2900 or the attorney general’s student loan helpline at 1-800-455-2456.
Bush’s district office is serving constituents remotely during the COVID-19 pandemic. Call 847-548-5631 or email firstname.lastname@example.org for assistance.