TITLE 23: EDUCATION AND CULTURAL RESOURCES SUBTITLE A: EDUCATION
SUBTITLE A: EDUCATION
CHAPTER I: STATE BOARD OF EDUCATION SUBCHAPTER o: MISCELLANEOUS
SUBCHAPTER o: MISCELLANEOUS
PART 650 CHARTER SCHOOLS SUBPART A: GENERAL PROVISIONS
SECTION 650.220 MAXIMUM AMOUNT OF LOAN


 

Section 650.220  Maximum Amount of Loan

 

The maximum loan amount shall be calculated on a per-pupil basis, based upon the total enrollment.  An applicant may request a loan amount that does not exceed $750 per pupil. For approved charter schools already in their initial contract term, the maximum loan amount shall be calculated using the enrollment as reported to the State Board of Education as of March 1 of the current school year.  Loan amounts for new charter schools will be calculated using the projected enrollment during the first year of the initial contract term.

 

(Source:  Added at 42 Ill. Reg. 3182, effective January 31, 2018)