Attorney General Kwame Raoul applauded Governor JB Pritzker for signing legislation Raoul initiated to protect student loan borrowers and help them select a student loan option that best meets their needs. House Bill 2746, Raoul’s “Know Before You Owe” measure, ensures that student borrowers have information about their federal aid eligibility before they turn to more costly private loans. Raoul initiated Know Before You Owe to give student borrowers access to information that will help them avoid expensive private student loans that offer fewer borrower protections, less flexible repayment options and generally cost more than federal student loans. In addition to Know Before You Owe, Raoul initiated Senate Bill 669 to protect student loan borrowers from student loan debt relief companies (SLDRs) that often prey on borrowers by charging high fees for services they cannot provide. Know Before You Owe was sponsored by Rep. Katie Stuart and Sen. Scott Bennett and passed by the Illinois General Assembly with bipartisan support. Know Before You Owe addresses the lack of publicly-available data about private student loans in several ways. The law requires private lenders to obtain certification from schools, confirming whether borrowers have expenses that have not been covered by other sources. Student borrowers who have questions or are in need of assistance can call the Attorney General’s Student Loan Helpline at 1-800-455-2456.