Sen. Don Harmon
Filed: 2/25/2020
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1342 




2    AMENDMENT NO. ______. Amend Senate Bill 1342 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Higher Education Student Assistance Act is 
5amended by changing Section 5 as follows:
 



6    (110 ILCS 947/5)



7    Sec. 5. Purpose. The
The General Assembly finds and 
8declares that (1) the
provision of a higher education for all 
9residents of this State who desire a
higher education and are 
10properly qualified therefor is important to the
welfare and 
11security of this State and Nation and, consequently, is an

12important public purpose, and (2) many qualified students are 
13deterred by
financial considerations from completing their 
14education, with a consequent
irreparable loss to the State and 
15Nation of talents vital to welfare and
security. The number of 
16qualified persons who desire a higher education is
increasing 
 
 
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1rapidly, and the physical facilities, faculties, and staffs of

2the institutions of higher learning operated by, within and for 
3the
residents of the State will have to be
expanded greatly to 
4accommodate those persons, with an attendant sharp
increase in 
5the cost of educating them. A system of financial
assistance of 
6scholarships, grants, and loans for qualified
residents of 
7college age will enable them to attend qualified institutions

8of their choice in the State, public or private.  The adoption 
9of new federal
student loan legislation necessitates that the 
10State update and broaden its
system of financial student 
11assistance.
12    As market conditions permit, the Commission is 
13specifically encouraged to
offer reasonable and affordable 
14supplemental or alternative educational loans
to students who 
15seek to obtain these loans.  As part of these alternative or

16supplemental direct lending initiatives, the Commission may 
17give priority
consideration to students assisted by the 
18Commission's need-based programs.
19    The system of financial assistance provided under this Act 
20includes prepaid programs for college savings, and the 
21Commission is specifically encouraged to enlist employers in 
22providing voluntary matching donations to the amount that their 
23employees save through these prepaid programs.


24(Source: P.A. 96-198, eff. 8-10-09.)".