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[ House Amendment 001 ] |
92_HB6031 LRB9214147NTgc 1 AN ACT concerning 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 65.56 as follows: 6 (110 ILCS 947/65.56 new) 7 Sec. 65.56. Ryan Loan Repayment for Teachers Program. 8 (a) In order to encourage academically talented Illinois 9 students to enter and continue teaching in Illinois schools 10 in low-income areas, the Commission shall, each year, receive 11 and consider applications for loan repayment assistance under 12 this Section. This program shall be known as the Ryan Loan 13 Repayment for Teachers Program. The Commission shall 14 administer the program and shall make all necessary and 15 proper rules not inconsistent with this Section for the 16 program's effective implementation. 17 (b) Subject to a separate appropriation made for such 18 purposes, the Commission shall award a grant to each 19 qualified applicant in an amount equal to the amount of 20 educational loans forgiven on behalf of the qualified 21 applicant pursuant to Sections 424 and 425 of Title IV of the 22 Higher Education Amendments of 1998 (20 U.S.C. 1078-10 and 23 1078-11). The Commission shall encourage the recipient of a 24 grant under this Section to use the grant amount awarded to 25 pay off his or her educational loans. 26 (c) A person is a qualified applicant under this Section 27 if he or she meets all of the following qualifications: 28 (1) The person is a United States citizen or 29 eligible noncitizen. 30 (2) The person is a resident of this State. 31 (3) The person is a borrower who has had an amount -2- LRB9214147NTgc 1 of his or her educational loans forgiven pursuant to 2 Sections 424 and 425 of Title IV of the Higher Education 3 Amendments of 1998. 4 (d) All applications for grant assistance under this 5 Section shall be made to the Commission. The form of 6 application and the information required to be set forth in 7 the application shall be determined by the Commission, and 8 the Commission shall require applicants to submit with their 9 applications such supporting documents as the Commission 10 deems necessary. 11 (e) A qualified applicant must apply for a grant under 12 this Section within 6 months after receiving notification of 13 loan forgiveness pursuant to Sections 424 and 425 of Title IV 14 of the Higher Education Amendments of 1998. 15 Section 99. Effective date. This Act takes effect on 16 July 1, 2003.