95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1622


 
Introduced 2/9/2007, by Sen. Carol Ronen
 
SYNOPSIS AS INTRODUCED:
 		













110 ILCS 947/5










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
















LRB095 06369 NHT 26465 b

















 


 


A BILL FOR









 











SB1622

LRB095 06369 NHT 26465 b






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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 
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amended by changing Section 5 as follows:
 



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    (110 ILCS 947/5)



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    Sec. 5. Purpose. The
The General Assembly finds and 
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declares that (1) the
provision of a higher education for all 
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residents of this State who desire a
higher education and are 
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properly qualified therefor is important to the
welfare and 
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security of this State and Nation and, consequently, is an

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important public purpose, and (2) many qualified students are 
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deterred by
financial considerations from completing their 
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education, with a consequent
irreparable loss to the State and 
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Nation of talents vital to welfare and
security. The number of 
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qualified persons who desire a higher education is
increasing 
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rapidly, and the physical facilities, faculties, and staffs of

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the institutions of higher learning operated by, within and for 
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the
residents of the State will have to be
expanded greatly to 
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accommodate those persons, with an attendant sharp
increase in 
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the cost of educating them. A system of financial
assistance of 
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scholarships, grants, and loans for qualified
residents of 
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college age will enable them to attend qualified institutions

 


 






SB1622
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of their choice in the State, public or private.  The adoption 
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of new federal
student loan legislation necessitates that the 
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State update and broaden its
system of financial student 
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assistance.
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    As market conditions permit, the Commission is 
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specifically encouraged to
offer reasonable and affordable 
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supplemental or alternative educational loans
to students who 
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seek to obtain these loans.  As part of these alternative or

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supplemental direct lending initiatives, the Commission may 
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give priority
consideration to students assisted by the 
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Commission's need-based programs.

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(Source: P.A. 89-442, eff. 12-21-95.)