(110 ILCS 947/65.56)
Illinois Teachers and Child Care Providers Loan Repayment
(a) In order to encourage academically talented Illinois students
to enter and continue teaching in Illinois schools in low-income areas and to
encourage students to enter the early child care profession and serve
low-income areas, the
Commission shall, each year, receive and consider applications for loan
repayment assistance under this Section. This program shall be known
as the Illinois Teachers and Child Care Providers Loan Repayment Program. The
shall administer the program and shall make all necessary and
proper rules not inconsistent with this Section for the program's effective
implementation. The Commission may use up to 5% of the appropriation for this
program for administration and promotion of teacher incentive programs.
(b) Beginning January 1, 2003, subject to a separate appropriation made for
such purposes, the Commission shall award a grant to each qualified applicant
in an amount equal to the amount of educational loans forgiven on behalf of the
qualified applicant pursuant to Sections 424 and 425 of Title IV of the Higher
Education Amendments of 1998 (20 U.S.C. 1078-10 and 1078-11), up to a maximum
of $5,000. The Commission shall encourage the recipient of a grant under this
Section to use the grant amount awarded to pay off his or her educational
(c) A person is a qualified applicant under this Section if he or she meets
all of the following qualifications:
(1) The person is a United States citizen or eligible
(2) The person is a resident of this State.
(3) The person is a borrower who has had an amount of
his or her educational loans forgiven pursuant to Sections 424 and 425 of Title IV of the Higher Education Amendments of 1998.
(4) The person has fulfilled the obligations set
forth by Sections 424 and 425 of Title IV of the Higher Education Amendments of 1998 in this State.
(d) All applications for grant assistance under this Section shall be
made to the Commission. The form of application and the information
required to be set forth in the application shall be determined by the
Commission, and the Commission shall require applicants to submit
with their applications such supporting documents as the
Commission deems necessary.
(e) A qualified applicant must apply for a grant under this Section
within 6 months after receiving notification of loan forgiveness pursuant
to Sections 424 and 425 of Title IV of the Higher Education Amendments
(Source: P.A. 92-597, eff. 7-1-02.)