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Cosigner on Private Student Loan

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Junior Member
What is the name of your state (only U.S. law)? IL

If I default on a private student loan such as Sallie Mae or another private loan in Illinois, can they take away my teaching license? My driver's license? I already checked the ISBE site and can't find an answer there.


Senior Member
This is applicable code:

Section 25.489 Licensure of Persons Who Are in Default on Student Loans
Pursuant to Section 21B-75(b) of the School Code, a license may be suspended for failure to establish satisfactory repayment on an educational loan guaranteed by the Illinois Student Assistance Commission. Accordingly, each applicant for the issuance, registration, or renewal of an Illinois professional educator license, educator license with stipulations or substitute teaching license or for the addition of another credential (e.g., endorsement, approval, designation), including any credential issued under Subpart G of this Part, shall be required to indicate on the relevant form whether he or she is in default on an Illinois student loan for which no satisfactory repayment plan has been established with the Commission. Each individual providing an affirmative response to this question shall be ineligible to receive, register, or renew a license or to receive an additional credential until he or she provides to the State Superintendent of Education a statement from the Commission, issued on the Commission's letterhead, indicating that the individual has entered into a satisfactory payment plan.
(Source: Amended at 37 Ill. Reg. 8379, effective June 12, 2013)
You license can be suspended.

ETA: Whoops, that's for federal loans. You should call ISBE about the private loan.
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