CHAMPAIGN – New accountability standards for private loan companies will soon be in place across the state, helping students make more informed choices about the loans they take out to pay for college, thanks to a measure led by Senate Higher Education Chair Scott Bennett (D-Champaign).
“This new law requires private loan companies to help students better understand the type and amount of grants and loans they qualify for,” Bennett said. “This law also gives students the necessary resources to see how college costs could impact their loan payments down the road and ensure they understand what their student borrowing really means.”
Read more: Bennett celebrates signing of legislation to reduce student loan epidemic
WAUKEGAN – To get to know local entrepreneurs and foster an inclusive and diverse local business community, State Senator Adriane Johnson (D-Buffalo Grove) paid a visit to Gordon’s Gourmet Popcorn Shop in Waukegan in celebration of National Black Business Month.
“Small businesses across the country suffered during the pandemic, but the recent successful opening of Gordon’s Gourmet Popcorn Shop is a testament to the resilience of the Waukegan community,” Johnson said. “It was a pleasure to get to know Greg and Hannah, and I look forward to visiting the shop for years to come.”
SPRINGFIELD – A new law sponsored by State Senator John Connor (D-Lockport) and State Representative Dagmara Avelar (D-Bolingbrook), signed Friday, will give vehicle owners the right to choose less expensive parts for car repairs.
“I was proud to work with Representative Avelar on this issue,” Connor said. “This law will save Illinois consumers money when they have to repair or purchase parts for their cars.”
Currently, automobile manufacturers are able to require affiliated independent dealerships to only offer secondary products and warranties directly from the manufacturer. These requirements often drive up the cost of warranties, repairs and parts, placing excessive financial burdens on consumers and creating greater profit for manufacturers. Under the new law, dealerships will be able to offer parts made by other companies.
Read more: New law provides right to choose repair parts for vehicle owners
PARK FOREST – Families and businesses impacted by the severe storms and flash flooding in central Illinois that occurred earlier this month could be eligible for recovery assistance from the U.S. Small Business Administration, State Senator Patrick Joyce (D-Essex) announced Wednesday.
Families in the surrounding counties of Champaign, Iroquois, Ford, Livingston, McLean and Vermilion are also eligible to apply for the SBA’s low-interest, long-term loans to boost flood recovery efforts.
“Following a disaster, it’s important for the community to come together and help each other heal,” Joyce said. “Assistance from the U.S. Small Business Administration can give families the boost they need to bounce back.”
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