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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3207 Introduced 2/19/2021, by Rep. Nicholas K. Smith SYNOPSIS AS INTRODUCED:
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Amends the Board of Higher Education Act. Provides that, in order to prevent nonpublic, for-profit institutions of higher education from enrolling students in programs or degrees for careers in which a student's higher education loan debt will exceed the student's expected income, the Board shall adopt any rules that are necessary to prohibit nonpublic, for-profit institutions of higher education from continuing any program or degree if the estimated annual higher education loan repayment of a typical graduate from such a program or with such a degree exceeds 20% of the graduate's total annual income or 8% of the graduate's total monthly income.
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| | A BILL FOR |
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| | HB3207 | | LRB102 10467 CMG 15796 b |
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| 1 | | AN ACT concerning education.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Board of Higher Education Act is amended by |
| 5 | | adding Section 9.40 as follows:
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| 6 | | (110 ILCS 205/9.40 new) |
| 7 | | Sec. 9.40. Discontinuance of program at for-profit |
| 8 | | institution; student loan debt. In order to prevent nonpublic, |
| 9 | | for-profit institutions of higher education from enrolling |
| 10 | | students in programs or degrees for careers in which a |
| 11 | | student's higher education loan debt will exceed the student's |
| 12 | | expected income, the Board shall adopt any rules that are |
| 13 | | necessary to prohibit nonpublic, for-profit institutions of |
| 14 | | higher education from continuing any program or degree if the |
| 15 | | estimated annual higher education loan repayment of a typical |
| 16 | | graduate from such a program or with such a degree exceeds 20% |
| 17 | | of the graduate's total annual income or 8% of the graduate's |
| 18 | | total monthly income.
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