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| 1 | | currently operating as a not-for-profit entity. |
| 2 | | (2) The institution's 3-year federal student loan |
| 3 | | cohort default rate, as published by the United States |
| 4 | | Department of Education, does not exceed 10%. |
| 5 | | (3) The institution's average annual cost of full-time |
| 6 | | tuition and mandatory fees over the preceding 4 academic |
| 7 | | years is less than the average annual cost of full-time |
| 8 | | tuition and mandatory fees at public universities in this |
| 9 | | State over the preceding 4 academic years, based on data |
| 10 | | published by the United States Department of Education. |
| 11 | | (4) The institution participates in the federal Pell |
| 12 | | Grant program and in at least 2 of the following federal |
| 13 | | student aid programs: |
| 14 | | (A) The Federal Work-Study Program. |
| 15 | | (B) The William D. Ford Federal Direct Loan |
| 16 | | Program. |
| 17 | | (C) The Federal Supplemental Educational |
| 18 | | Opportunity Grant Program. |
| 19 | | "Qualified program" means a bachelor's degree or |
| 20 | | certificate program that requires at least 60% of instruction |
| 21 | | and coursework to be delivered and completed online. |
| 22 | | "Tuition and mandatory fees" means the customary charge |
| 23 | | for instruction and the additional fixed fees charged for |
| 24 | | specified purposes that are required generally of nongrant |
| 25 | | students for each academic period for which a grant recipient |
| 26 | | enrolls. The Commission may adopt rules concerning the |
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| 1 | | computation of tuition and mandatory fees for the purposes of |
| 2 | | this definition. |
| 3 | | (b) The Commission shall establish the Adult Learner |
| 4 | | Flexible Education Grant Program to facilitate access to |
| 5 | | online postsecondary education for adults over the age of 25. |
| 6 | | (c) Beginning with the 2025-2026 academic year, subject to |
| 7 | | appropriation, the Commission shall receive and consider |
| 8 | | applications for grant assistance under this Section. An |
| 9 | | applicant is eligible for a grant under this Section if the |
| 10 | | Commission finds that the applicant meets all of the following |
| 11 | | qualifications: |
| 12 | | (1) The applicant is over the age of 25. |
| 13 | | (2) The applicant is accepted for enrollment at a |
| 14 | | qualified institution to pursue a qualified program. |
| 15 | | (3) The applicant is a resident of this State and a |
| 16 | | permanent resident of the United States. |
| 17 | | (4) The applicant has completed the Free Application |
| 18 | | for Federal Student Aid. |
| 19 | | (5) The applicant, in the absence of grant assistance, |
| 20 | | will be deterred by financial considerations from |
| 21 | | completing an educational program at the qualified |
| 22 | | institution of the applicant's choice. |
| 23 | | (6) The applicant has not already received a |
| 24 | | baccalaureate degree. |
| 25 | | (d) All grants under this Section are applicable only to |
| 26 | | tuition and mandatory fees. The Commission shall determine the |
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| 1 | | grant amount for each student, which amount must not exceed |
| 2 | | $5,000. The total amount of a grant awarded by the Commission |
| 3 | | under this Section to an individual in any given fiscal year, |
| 4 | | when added to other financial assistance awarded to that |
| 5 | | individual for that fiscal year, may not exceed the cost of |
| 6 | | attendance at the qualified institution at which the |
| 7 | | individual is enrolled. |
| 8 | | (e) All applications for grants to be awarded under this |
| 9 | | Section shall be made to the Commission in the form and manner |
| 10 | | as prescribed by the Commission. The information required to |
| 11 | | be set forth in the application shall be determined by the |
| 12 | | Commission. The Commission shall require eligible applicants |
| 13 | | to submit with their applications such supporting documents, |
| 14 | | including financial documents, as the Commission deems |
| 15 | | necessary. |
| 16 | | (f) All grant funds distributed in accordance with this |
| 17 | | Section shall be paid to the qualified institution on behalf |
| 18 | | of the recipient. Grants are applicable toward 2 semesters or |
| 19 | | equivalent academic terms of enrollment within an academic |
| 20 | | year. Up to 3% of the appropriation for this program may be |
| 21 | | used by the Commission for the costs of administering the |
| 22 | | program. The Commission may establish a methodology for the |
| 23 | | distribution of grants, prioritizing students as follows: |
| 24 | | (1) Students who are ineligible for others forms of |
| 25 | | State-based financial aid. |
| 26 | | (2) Students who demonstrate the most financial need |
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| 1 | | based on the FAFSA Student Aid Index or any other |
| 2 | | methodology used by FAFSA to determine and prioritize |
| 3 | | student need. |
| 4 | | (3) First-generation students. |
| 5 | | (4) Students who meet any other criteria the |
| 6 | | Commission deems necessary. |
| 7 | | (g) The Commission shall adopt rules for the effective |
| 8 | | implementation of this Section. |
| 9 | | Section 99. Effective date. This Act takes effect July 1, |
| 10 | | 2025.". |