Illinois Code § 5-80
Illinois Code § 5-80. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 5-80.
Bankruptcy or death of cosigner. (a) If a cosigner dies, the servicer may not attempt to collect against the cosigner's estate other than for payment default. (b) With regard to the death or bankruptcy of a cosigner, if a private education loan is not more than 60 days delinquent at the time the servicer is notified of the cosigner's death or bankruptcy, the servicer may not change any terms or benefits under the promissory note, the repayment schedule, the repayment terms, or the monthly payment amount or any other provision associated with the loan. (Source: P.A. 103-748, eff. 8-2-24.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 5-80
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 5-80?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 5-80 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 5-80 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
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No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.