Bill Status of SB 3718   102nd General Assembly


Short Description:  STUDENT LOANS-TEACHER FORGIVE

Senate Sponsors
Sen. Ram Villivalam

Last Action  View All Actions

DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
110 ILCS 947/65.58 new

Synopsis As Introduced
Amends the Higher Education Student Assistance Act. Creates the Teacher Loan Repayment Program. Provides that the Illinois Student Assistance Commission shall consider applications for forgiving portions of qualified applicants' educational loans each year. Provides that 10% of the applicant's yearly loan balance shall be forgiven each year for 5 years or until 50% of the applicant's outstanding balance at the time of the initial application is paid off. Effective July 1, 2022.

Actions 
DateChamber Action
  1/21/2022SenateFiled with Secretary by Sen. Ram Villivalam
  1/21/2022SenateFirst Reading
  1/21/2022SenateReferred to Assignments
  2/1/2022SenateAssigned to Appropriations
  2/1/2022SenateTo Appropriations- Higher Education
  2/10/2022SenateRule 3-9(a) / Re-referred to Assignments
  1/10/2023SenateSession Sine Die

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