{"data":{"id":"us-il/110-ilcs-992-5-5","jurisdiction":"us-il","citation":"110 ILCS 992/5-5","heading":"General provisions.","body":"(a) A servicer shall not engage in any unfair or deceptive practice toward any borrower or cosigner or misrepresent or omit any material information in connection with the servicing of a student loan, including, but not limited to, misrepresenting the amount, nature, or terms of any fee or payment due or claimed to be due on a student loan, the terms and conditions of the student loan agreement, or the borrower's or cosigner's obligations under the student loan or the terms of any repayment plans.\n(b) A servicer shall not misapply payments made by a borrower to the outstanding balance of a student loan.\n(c) A servicer shall oversee third parties, including subservicers, debt collectors, independent contractors, subsidiaries, affiliates, or other agents, to ensure that those companies comply with this Article 5 when working on behalf of the servicer.","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":"e5d524923d518ba62d499abdd192987500ef3549d8dc31be286e5c9cf47a214c","source_id":"us-il","stale":false,"prev":"us-il/110-ilcs-992-1-5","next":"us-il/110-ilcs-992-5-10"},"notice":"GroundRules: Original legal text. Not legal advice."}