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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0884
Introduced 2/18/2005, by Sen. Edward D. Maloney - Emil Jones, Jr. SYNOPSIS AS INTRODUCED:
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Amends the Higher Education Student Assistance Act. Makes a technical change
concerning the Act's purpose.
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A BILL FOR
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SB0884 |
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LRB094 04488 NHT 34517 b |
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| AN ACT concerning education.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Higher Education Student Assistance Act is |
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| amended by changing Section 5 as follows:
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| (110 ILCS 947/5)
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| Sec. 5. Purpose. The
The General Assembly finds and |
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| declares that (1) the
provision of a higher education for all |
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| residents of this State who desire a
higher education and are |
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| properly qualified therefor is important to the
welfare and |
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| security of this State and Nation and, consequently, is an
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| important public purpose, and (2) many qualified students are |
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| deterred by
financial considerations from completing their |
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| education, with a consequent
irreparable loss to the State and |
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| Nation of talents vital to welfare and
security. The number of |
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| qualified persons who desire a higher education is
increasing |
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| rapidly, and the physical facilities, faculties, and staffs of
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| the institutions of higher learning operated by, within and for |
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| the
residents of the State will have to be
expanded greatly to |
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| accommodate those persons, with an attendant sharp
increase in |
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| the cost of educating them. A system of financial
assistance of |
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| scholarships, grants, and loans for qualified
residents of |
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| college age will enable them to attend qualified institutions
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| of their choice in the State, public or private. The adoption |
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| of new federal
student loan legislation necessitates that the |
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| State update and broaden its
system of financial student |
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| assistance. |
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| As market conditions permit, the Commission is |
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| specifically encouraged to
offer reasonable and affordable |
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| supplemental or alternative educational loans
to students who |
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| seek to obtain these loans. As part of these alternative or
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| supplemental direct lending initiatives, the Commission may |
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