{"data":{"id":"us-il/110-ilcs-992-5-10","jurisdiction":"us-il","citation":"110 ILCS 992/5-10","heading":"Payment processing.","body":"(a) A servicer shall credit borrower and cosigner payments promptly and accurately.\n(b) A servicer shall provide borrowers and cosigners with prompt notice if the servicer changes the address to which the borrower or cosigner needs to send payments.\n(c) A servicer shall not charge a penalty to a borrower or cosigner if a student loan payment is received at an address used for payments for a period of 90 days after the change in address.\n(d) A servicer shall not misrepresent the delinquent amount of the loan on any call with a borrower or cosigner.\n(e) A servicer shall allow a borrower or cosigner to specify instructions as to how an overpayment should be applied to the balance of the loan as consistent with the promissory note.","path":["CHAPTER 110 HIGHER EDUCATION","Student Loan Servicing Rights Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=3830\u0026ChapterID=18\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:28Z","sha256":"5917a594312da509c1e6a03257f43e55daeb35fd39ea588cb492365f527d0811","source_id":"us-il","stale":false,"prev":"us-il/110-ilcs-992-5-5","next":"us-il/110-ilcs-992-5-15"},"notice":"GroundRules: Original legal text. Not legal advice."}