IL SB2559

Creates a 3-year education loan information pilot program beginning with the 2019-2020 academic year for all public institutions of higher learning enrolling financial aid-eligible students.

Requires participating institutions to provide students or parents/guardians annually with: total estimated education loans taken out, estimated payoff amounts and monthly repayment figures, percentage of borrowing limits reached, and available financial resources.

Permits institutions to include disclaimers that estimates and ranges are general in nature and not guaranteed projections.

Protects public institutions of higher learning from liability for representations made during the pilot program.

Repeals the pilot program on June 1, 2023.