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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.
Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
(110 ILCS 991/10) Sec. 10. Definitions. As used in this Act: "Borrower" means an Illinois resident who has received an education loan or an Illinois resident parent who has received or agreed to pay an education loan, subject to approval by the State Treasurer. "Education loan" means a loan made to a borrower in accordance with this Act to finance an Illinois resident student's attendance at an institution of higher education. "Institution of higher education" means a post-secondary educational institution located in Illinois and approved by the State Treasurer. "Refinance loan" means a loan made to an Illinois resident in accordance with this Act to refinance an existing loan used to finance post-secondary education. "Student Investment Account" means that portion of the Treasurer's State Investment Portfolio described in Section 15. (Source: P.A. 104-180, eff. 8-15-25.) |