Bill Text: IL HB4650 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Higher Education Student Assistance Act. Makes a technical change concerning the Act's purpose.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-21 - Referred to Rules Committee [HB4650 Detail]

Download: Illinois-2021-HB4650-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB4650 Introduced , by Rep. Robert Rita SYNOPSIS AS INTRODUCED:
110 ILCS 947/5
Amends the Higher Education Student Assistance Act. Makes a technical change concerning the Act's purpose.
LRB102 23024 CMG 32178 b
A BILL FOR
HB4650 LRB102 23024 CMG 32178 b
AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Higher Education Student Assistance Act is
amended by changing Section 5 as follows:
(110 ILCS 947/5)
Sec. 5. Purpose. The The General Assembly finds and
declares that (1) the provision of a higher education for all
residents of this State who desire a higher education and are
properly qualified therefor is important to the welfare and
security of this State and Nation and, consequently, is an
important public purpose, and (2) many qualified students are
deterred by financial considerations from completing their
education, with a consequent irreparable loss to the State and
Nation of talents vital to welfare and security. The number of
qualified persons who desire a higher education is increasing
rapidly, and the physical facilities, faculties, and staffs of
the institutions of higher learning operated by, within and
for the residents of the State will have to be expanded greatly
to accommodate those persons, with an attendant sharp increase
in the cost of educating them. A system of financial
assistance of scholarships, grants, and loans for qualified
residents of college age will enable them to attend qualified

HB4650 - 2 - LRB102 23024 CMG 32178 b
institutions of their choice in the State, public or private.
The adoption of new federal student loan legislation
necessitates that the State update and broaden its system of
financial student assistance.
As market conditions permit, the Commission is
specifically encouraged to offer reasonable and affordable
supplemental or alternative educational loans to students who
seek to obtain these loans. As part of these alternative or
supplemental direct lending initiatives, the Commission may
give priority consideration to students assisted by the
Commission's need-based programs.
The system of financial assistance provided under this Act
includes prepaid programs for college savings, and the
Commission is specifically encouraged to enlist employers in
providing voluntary matching donations to the amount that
their employees save through these prepaid programs.
(Source: P.A. 96-198, eff. 8-10-09.)