Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Private companies that service college loans will profit at the expense of students because the Trump administration killed commonsense changes to reduce the default rate among college borrowers, Illinois State Treasurer Michael Frerichs said today. “Let’s be clear about what President Trump’s changes mean. These service centers, when speaking with college graduates who want to work out a payment plan, will not have to tell the truth,” Frerichs said. “It will needlessly result in more college defaults for individuals and higher profits for corporations at the expense of…

SPRINGFIELD — A statewide newsprint advertising push began this week to reunite Illinois residents with approximately $2.8 billion in unclaimed property, Illinois Treasurer Michael Frerichs said today. Frerichs drew attention to the advertising blitz to reassure residents that the unclaimed property effort is legitimate. The treasurer’s office never charges money to search and return unclaimed property. “This money does not belong to the State of Illinois. It belongs to Illinois residents, businesses and local governments and we want to make every effort to return it,” Frerichs said. “With the state’s…

CHICAGO — Illinois State Treasurer Michael Frerichs today returned a Purple Heart Medal to Vietnam War Veteran Harold J. Walker. The Purple Heart is one of the most recognized and respected medals awarded to a member of the U.S. Armed Forces. Frerichs also returned a Vietnam Service Medal and a National Defense Medal for Walker’s service in Vietnam. The honors were discovered in a safe deposit box that was surrendered to the treasurer’s office as unclaimed property. “It is a great honor to return the Purple Heart Medal, Vietnam Service…