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| [ House Amendment 001 ] |
92_HB6031
LRB9214147NTgc
1 AN ACT concerning higher education student assistance.
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
5 is amended by adding Section 65.56 as follows:
6 (110 ILCS 947/65.56 new)
7 Sec. 65.56. Ryan Loan Repayment for Teachers Program.
8 (a) In order to encourage academically talented Illinois
9 students to enter and continue teaching in Illinois schools
10 in low-income areas, the Commission shall, each year, receive
11 and consider applications for loan repayment assistance under
12 this Section. This program shall be known as the Ryan Loan
13 Repayment for Teachers Program. The Commission shall
14 administer the program and shall make all necessary and
15 proper rules not inconsistent with this Section for the
16 program's effective implementation.
17 (b) Subject to a separate appropriation made for such
18 purposes, the Commission shall award a grant to each
19 qualified applicant in an amount equal to the amount of
20 educational loans forgiven on behalf of the qualified
21 applicant pursuant to Sections 424 and 425 of Title IV of the
22 Higher Education Amendments of 1998 (20 U.S.C. 1078-10 and
23 1078-11). The Commission shall encourage the recipient of a
24 grant under this Section to use the grant amount awarded to
25 pay off his or her educational loans.
26 (c) A person is a qualified applicant under this Section
27 if he or she meets all of the following qualifications:
28 (1) The person is a United States citizen or
29 eligible noncitizen.
30 (2) The person is a resident of this State.
31 (3) The person is a borrower who has had an amount
-2- LRB9214147NTgc
1 of his or her educational loans forgiven pursuant to
2 Sections 424 and 425 of Title IV of the Higher Education
3 Amendments of 1998.
4 (d) All applications for grant assistance under this
5 Section shall be made to the Commission. The form of
6 application and the information required to be set forth in
7 the application shall be determined by the Commission, and
8 the Commission shall require applicants to submit with their
9 applications such supporting documents as the Commission
10 deems necessary.
11 (e) A qualified applicant must apply for a grant under
12 this Section within 6 months after receiving notification of
13 loan forgiveness pursuant to Sections 424 and 425 of Title IV
14 of the Higher Education Amendments of 1998.
15 Section 99. Effective date. This Act takes effect on
16 July 1, 2003.