Bill Text: IL HB4790 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: Amends the Higher Education Student Assistance Act. Makes a technical change concerning the Act's purpose.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB4790 Detail]
Download: Illinois-2015-HB4790-Introduced.html
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1 | AN ACT concerning education.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Higher Education Student Assistance Act is | |||||||||||||||||||
5 | amended by changing Section 5 as follows:
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6 | (110 ILCS 947/5)
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7 | Sec. 5. Purpose. The
The General Assembly finds and | |||||||||||||||||||
8 | declares that (1) the
provision of a higher education for all | |||||||||||||||||||
9 | residents of this State who desire a
higher education and are | |||||||||||||||||||
10 | properly qualified therefor is important to the
welfare and | |||||||||||||||||||
11 | security of this State and Nation and, consequently, is an
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12 | important public purpose, and (2) many qualified students are | |||||||||||||||||||
13 | deterred by
financial considerations from completing their | |||||||||||||||||||
14 | education, with a consequent
irreparable loss to the State and | |||||||||||||||||||
15 | Nation of talents vital to welfare and
security. The number of | |||||||||||||||||||
16 | qualified persons who desire a higher education is
increasing | |||||||||||||||||||
17 | rapidly, and the physical facilities, faculties, and staffs of
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18 | the institutions of higher learning operated by, within and for | |||||||||||||||||||
19 | the
residents of the State will have to be
expanded greatly to | |||||||||||||||||||
20 | accommodate those persons, with an attendant sharp
increase in | |||||||||||||||||||
21 | the cost of educating them. A system of financial
assistance of | |||||||||||||||||||
22 | scholarships, grants, and loans for qualified
residents of | |||||||||||||||||||
23 | college age will enable them to attend qualified institutions
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1 | of their choice in the State, public or private. The adoption | ||||||
2 | of new federal
student loan legislation necessitates that the | ||||||
3 | State update and broaden its
system of financial student | ||||||
4 | assistance. | ||||||
5 | As market conditions permit, the Commission is | ||||||
6 | specifically encouraged to
offer reasonable and affordable | ||||||
7 | supplemental or alternative educational loans
to students who | ||||||
8 | seek to obtain these loans. As part of these alternative or
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9 | supplemental direct lending initiatives, the Commission may | ||||||
10 | give priority
consideration to students assisted by the | ||||||
11 | Commission's need-based programs. | ||||||
12 | The system of financial assistance provided under this Act | ||||||
13 | includes prepaid programs for college savings, and the | ||||||
14 | Commission is specifically encouraged to enlist employers in | ||||||
15 | providing voluntary matching donations to the amount that their | ||||||
16 | employees save through these prepaid programs.
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17 | (Source: P.A. 96-198, eff. 8-10-09.)
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