State of Illinois
92nd General Assembly
Legislation

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92_HB2223

 
                                               LRB9207046NTsb

 1        AN ACT regarding 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 65.65 as follows:

 6        (110 ILCS 5/65.65 new)
 7        Sec. 65.65.  Digital Government Loan Forgiveness Program.
 8    The Digital Government Loan Forgiveness Program  is  created.
 9    The  Commission  shall  implement and administer the Program.
10    Under  the  Program,  15%  of  the  total  amount  of  higher
11    education student loans of a person shall  be  forgiven  upon
12    completion of one year of full-time employment with the State
13    in  an  information  technology field, with the percentage of
14    loan forgiveness being increased by 5% a year for  each  year
15    thereafter  of  full-time  State employment in an information
16    technology field.  However,  the  total  percentage  of  loan
17    forgiveness  awarded to a person under this Program shall not
18    exceed 30%.  The Commission may adopt any rules necessary  to
19    carry out its responsibilities under this Section.

20        Section  99.   Effective  date.  This Act takes effect on
21    July 1, 2001.

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