They'll provide 2-year loans of up to $10,000 for Illinois National Guard and U.S. Military Reserve members within 6 months of their return home. Interest rates would be capped at 3-percent.
Giannoulias says this program extension will prevent troops from falling victim to high-interest loans and help them transition into civilian life.
"These loans can help them pay their bills on time --continue education, aquire new skills or put a downpaymentS on a home," said Alex Giannoulias, Illinois State treasurer.
Service members must receive an honorable discharge from duty to qualify for the loans.
