STUDENT LOANS-TEACHER FORGIVE Senate SponsorsSen. Ram Villivalam and Meg Loughran Cappel 1/7/2025SenateSession Sine Die 110 ILCS 947/65.58 newAmends the Higher Education Student Assistance Act. Creates the Teacher Loan Repayment Program. Provides that the Illinois Student Assistance Commission shall consider applications for forgiving portions of qualified applicant's education loans each year. Provides that 10% of the applicant's yearly loan balance shall be forgiven each year for 5 years or until 50% of the applicant's outstanding balance at the time of the initial application is paid off. Effective July 1, 2024. 2/2/2023SenateFiled with Secretary by Sen. Ram Villivalam 2/2/2023SenateFirst Reading 2/2/2023SenateReferred to Assignments 2/7/2023SenateAssigned to Appropriations- Education 2/14/2023SenateAdded as Co-Sponsor Sen. Meg Loughran Cappel 3/10/2023SenateRule 3-9(a) / Re-referred to Assignments 1/7/2025SenateSession Sine Die