(110 ILCS 947/100)
ISAC originated loans.
(a) To further the purposes of this Act, the Commission is authorized to
originate loans for educational purposes, to students enrolled
at higher education institutions. The
Commission may establish borrower eligibility requirements for Commission
originated loans. Loans originated by the Commission may be, but are
not required to be, guaranteed by the Commission or any other entity.
(b) The Commission may make loans with the proceeds of bonds
issued pursuant to this Act or with such other funds as may be available to
(c) The administrative expenses of the Commission's direct lending
programs shall be supported by the General Revenue Fund through an
appropriation by the General Assembly for such purposes and may also be paid
with such other funds as may be available to the Commission.
(Source: P.A. 89-442, eff. 12-21-95.)