Public Act 094-1056
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Public Act 094-1056 |
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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 | ||||
amended by adding Section 39 as follows: | ||||
(110 ILCS 947/39 new) | ||||
Sec. 39. Monetary Award Program Plus. | ||||
(a) The Commission shall receive and consider applications | ||||
for monetary grant assistance under this Section to benefit | ||||
those students who will not receive Monetary Award Program | ||||
grants awarded in accordance with Section 35 of this Act, but | ||||
who will benefit from assistance in paying for the costs of | ||||
attendance at institutions of higher learning. Subject to a | ||||
separate appropriation for this purpose and sufficient revenue | ||||
from the sale of student loan assets, transaction processing, | ||||
or refinancing, an applicant is eligible for a Monetary Award | ||||
Program Plus grant under this Section if the Commission finds | ||||
that the applicant meets all of the following qualifications: | ||||
(1) He or she is a resident of this State and a citizen | ||||
or permanent resident of the United States. | ||||
(2) He or she is enrolled at least half-time as a | ||||
sophomore, junior, or senior at a MAP-eligible | ||||
institution, as defined under the Monetary Award Program. | ||||
(3) He or she will not receive in the same academic | ||||
year a Monetary Award Program grant under Section 35 of | ||||
this Act. | ||||
(4) He or she is from a family that had an adjusted | ||||
gross income, listed on the Free Application for Federal | ||||
Student Aid, of less than $200,000 for the 2005 taxable | ||||
year. | ||||
(b) All grants under this Section are applicable only to | ||||
tuition and mandatory fee costs. The Commission shall determine |
the grant amount for each student, which amount must not exceed | ||
$500 per year or $250 per semester and must not exceed tuition | ||
and mandatory fees net of State and federal financial aid. | ||
(c) Grants under this Section may be awarded only for the | ||
Fall 2006 and Spring 2007 semesters. | ||
(d) The Commission shall pay Monetary Award Program Plus | ||
grant awards to eligible students by application date, on a | ||
first-come, first-served basis. | ||
(e) The Commission, in determining the number of Monetary | ||
Award Program Plus grants to be awarded, shall utilize whatever | ||
appropriate data is available and shall notify applicants that | ||
grant assistance is contingent upon the availability of | ||
appropriated funds. | ||
(f) The Commission shall determine if sufficient funds are | ||
available from the sale of student loan assets, transaction | ||
processing, or refinancing to continue Monetary Award Program | ||
Plus beyond the Spring 2007 semester and shall prepare a report | ||
for the Governor and General Assembly indicating whether | ||
funding is available and how it can be used to support the | ||
program.
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Section 99. Effective date. This Act takes effect July 1, | ||
2006.
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