102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3207

 

Introduced 2/19/2021, by Rep. Nicholas K. Smith

 

SYNOPSIS AS INTRODUCED:
 
110 ILCS 205/9.40 new

    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.


LRB102 10467 CMG 15796 b

 

 

A BILL FOR

 

HB3207LRB102 10467 CMG 15796 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 Board of Higher Education Act is amended by
5adding Section 9.40 as follows:
 
6    (110 ILCS 205/9.40 new)
7    Sec. 9.40. Discontinuance of program at for-profit
8institution; student loan debt. In order to prevent nonpublic,
9for-profit institutions of higher education from enrolling
10students in programs or degrees for careers in which a
11student's higher education loan debt will exceed the student's
12expected income, the Board shall adopt any rules that are
13necessary to prohibit nonpublic, for-profit institutions of
14higher education from continuing any program or degree if the
15estimated annual higher education loan repayment of a typical
16graduate from such a program or with such a degree exceeds 20%
17of the graduate's total annual income or 8% of the graduate's
18total monthly income.