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1 | | equivalency and is co-enrolled in credit-bearing career and |
2 | | technical education courses or certificate programs that are |
3 | | delivered through an integrated education and training |
4 | | instructional model as established by the State Board. |
5 | | (b) Subject to appropriation from the Community College |
6 | | Free Tuition Trust Fund, the
State Board shall establish and |
7 | | administer the Integrated Career and Academic Preparation Free |
8 | | Tuition Program, a grant program that provides community |
9 | | colleges with tuition and universal fee payments for eligible |
10 | | students enrolled in the community college. |
11 | | (c) The amount of a grant shall cover the costs of tuition |
12 | | and universal fees for eligible
students. The grant only |
13 | | reimburses the college at the in-district tuition rate. Grant |
14 | | funds received for an eligible student under the Integrated |
15 | | Career and Academic Preparation Free Tuition Program must not |
16 | | be reduced by the receipt of other financial aid from any |
17 | | source by the student. However, a college may not receive a |
18 | | grant for a student pursuant to this Section if, when the grant |
19 | | amount is added to other financial aid received by that |
20 | | student, the total assistance the student receives exceeds the |
21 | | estimated cost to the student of attending the community |
22 | | college in which he or she is enrolled. |
23 | | (d) If the amount appropriated for grants is less than the |
24 | | amount determined necessary
to cover the cost of tuition and |
25 | | mandatory fees for all eligible students, the grants shall be |
26 | | proportionately reduced accordingly. In cases where the |
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1 | | appropriation is insufficient to cover calculated costs, a |
2 | | community college district is not required to forgive any |
3 | | remaining account balance of an eligible student. |
4 | | (e) The State Board shall determine the amount to be |
5 | | collected from every bank under the Illinois Banking Act and |
6 | | credit union under the Illinois Credit Union Act that shall be |
7 | | deposited into the Community College Free Tuition Trust Fund, a |
8 | | special fund in the State treasury. Moneys in the Community |
9 | | College Free Tuition Trust Fund shall be used to make payments |
10 | | to Illinois community colleges under this Section. |
11 | | (f) The State Board shall adopt rules necessary to |
12 | | administer the program.
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13 | | Section 15. The Illinois Banking Act is amended by adding |
14 | | Section 48.7 as follows:
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15 | | (205 ILCS 5/48.7 new) |
16 | | Sec. 48.7. Payments to the Community College Free Tuition |
17 | | Trust Fund. Every bank subject to the provisions of this Act |
18 | | shall pay into the Community College Free Tuition Trust Fund as |
19 | | provided in Section 2-26 of the Public Community College Act.
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20 | | Section 20. The Illinois Credit Union Act is amended by |
21 | | adding Section 54.5 as follows:
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22 | | (205 ILCS 305/54.5 new) |