95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2691


 
Introduced 2/15/2008, by Sen. Emil Jones, Jr.
 
SYNOPSIS AS INTRODUCED:
 		













110 ILCS 947/5









    Amends the Higher Education Student Assistance Act.  Makes a technical change
concerning the Act's purpose.
















LRB095 05590 NHT 25680 b

















 


 


A BILL FOR









 











SB2691

LRB095 05590 NHT 25680 b






1
    AN ACT concerning education.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 


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



6
    (110 ILCS 947/5)



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

12
important public purpose, and (2) many qualified students are 
13
deterred by
financial considerations from completing their 
14
education, with a consequent
irreparable loss to the State and 
15
Nation of talents vital to welfare and
security. The number of 
16
qualified persons who desire a higher education is
increasing 
17
rapidly, and the physical facilities, faculties, and staffs of

18
the institutions of higher learning operated by, within and for 
19
the
residents of the State will have to be
expanded greatly to 
20
accommodate those persons, with an attendant sharp
increase in 
21
the cost of educating them. A system of financial
assistance of 
22
scholarships, grants, and loans for qualified
residents of 
23
college age will enable them to attend qualified institutions

 


 






SB2691
- 2 -
LRB095 05590 NHT 25680 b




1
of their choice in the State, public or private.  The adoption 
2
of new federal
student loan legislation necessitates that the 
3
State update and broaden its
system of financial student 
4
assistance.
5
    As market conditions permit, the Commission is 
6
specifically encouraged to
offer reasonable and affordable 
7
supplemental or alternative educational loans
to students who 
8
seek to obtain these loans.  As part of these alternative or

9
supplemental direct lending initiatives, the Commission may 
10
give priority
consideration to students assisted by the 
11
Commission's need-based programs.

12
(Source: P.A. 89-442, eff. 12-21-95.)