Student Loan Debt Plan Could Be Significant for Illinois Borrowers

Student Loan Debt Plan Could Be Significant for Illinois Borrowers

(IOCI RADIO) – The Illinois Student Assistance Commission (ISAC) said President Biden’s student loan debt plan could be fairly significant for borrowers in the state.

More than 1.5 million Illinois borrowers hold over $57 billion in direct student loans, so the debt relief plan could have a serious impact.

ISAC Spokesperson Lynne Baker said she runs the numbers, but stressed that they don’t know how many borrowers meet the income eligibility guidelines.

Baker said 31% of Illinois borrowers, assuming they are under the income limit, would see their debt completely erased.

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