|SB2559 Engrossed||LRB100 18197 AXK 33398 b|
AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Higher Education Student Assistance Act is
amended by adding Section 83 as follows:
(110 ILCS 947/83 new)
Education loan information pilot program.
(a) In this Section, "education loan" means any State or
federal education loan or other loan used primarily to finance
a postsecondary education and costs of attendance at a public
institution of higher learning, including, but not limited to,
tuition, fees, books and supplies, room and board,
transportation, and miscellaneous personal expenses.
(b) Beginning with the 2019-2020 academic year, the
Commission shall develop a 3-year education loan information
pilot program for use by each public institution of higher
learning that enrolls students who are eligible to receive
financial aid. The program shall require that each public
institution of higher learning that receives education loan
information for a student enrolled at the institution provide
annually to the student or the parent or guardian of the
student the following information:
(1) An estimate of the total amount of education loans