97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0628
 
Introduced 01/31/11, by Rep. Michael J. Madigan
 
SYNOPSIS AS INTRODUCED:
 
  
110 ILCS 947/5

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



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A BILL FOR
 


HB0628LRB097 03451 NHT 43488 b



1    AN ACT concerning education.

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

 
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 
17rapidly, and the physical facilities, faculties, and staffs of

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

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

9supplemental direct lending initiatives, the Commission may 
10give priority
consideration to students assisted by the 
11Commission's need-based programs.
12    The system of financial assistance provided under this Act 
13includes prepaid programs for college savings, and the 
14Commission is specifically encouraged to enlist employers in 
15providing voluntary matching donations to the amount that their 
16employees save through these prepaid programs.


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