IL SB1638

Requires all Illinois public universities to provide enrolled students with a comprehensive report when they declare or change their academic major containing relevant occupational and financial data.

Report must include the estimated total cost of education for the student's chosen major or program of study.

Report must include average monthly student loan payment calculated over a 20-year repayment period based on estimated education costs.

Report must include job placement rate within 12 months of graduation, average entry-level wages for related occupations, and average wages 5 years after job entry.

Applies to University of Illinois, Southern Illinois University, Chicago State University, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Northern Illinois University, and Western Illinois University.