IL SB0669

Expands the Debt Settlement Consumer Protection Act to regulate student loan debt relief services, defining "student loan borrower" and "student loan debt relief" to include services offered for fees related to federal and private education loans.

Requires debt settlement providers offering student loan debt relief to disclose clearly and conspicuously in all advertising that the company is private, not affiliated with the Department of Education, and that borrowers can access consolidation and repayment plans directly through federal resources without paid assistance.

Mandates pre-sale written and oral disclosures to student loan borrowers stating the provider is not affiliated with government entities and directing borrowers to free resources through the Department of Education website and their loan servicer.

Applies existing fee restrictions to student loan debt relief services, limiting one-time enrollment fees to $50 and settlement fees to no more than 15% of savings.

Prohibits student loan debt relief providers from advising borrowers to stop making payments to lenders, loan servicers, loan guarantors, or government entities, and bars unauthorized access to federal student aid information.