Sen. Don Harmon

Filed: 2/25/2020





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2    AMENDMENT NO. ______. Amend Senate Bill 1342 by replacing
3everything after the enacting clause with the following:
4    "Section 5. The Higher Education Student Assistance Act is
5amended by changing Section 5 as follows:
6    (110 ILCS 947/5)
7    Sec. 5. Purpose. The The General Assembly finds and
8declares that (1) the provision of a higher education for all
9residents of this State who desire a higher education and are
10properly qualified therefor is important to the welfare and
11security of this State and Nation and, consequently, is an
12important public purpose, and (2) many qualified students are
13deterred by financial considerations from completing their
14education, with a consequent irreparable loss to the State and
15Nation of talents vital to welfare and security. The number of
16qualified persons who desire a higher education is increasing



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1rapidly, and the physical facilities, faculties, and staffs of
2the institutions of higher learning operated by, within and for
3the residents of the State will have to be expanded greatly to
4accommodate those persons, with an attendant sharp increase in
5the cost of educating them. A system of financial assistance of
6scholarships, grants, and loans for qualified residents of
7college age will enable them to attend qualified institutions
8of their choice in the State, public or private. The adoption
9of new federal student loan legislation necessitates that the
10State update and broaden its system of financial student
12    As market conditions permit, the Commission is
13specifically encouraged to offer reasonable and affordable
14supplemental or alternative educational loans to students who
15seek to obtain these loans. As part of these alternative or
16supplemental direct lending initiatives, the Commission may
17give priority consideration to students assisted by the
18Commission's need-based programs.
19    The system of financial assistance provided under this Act
20includes prepaid programs for college savings, and the
21Commission is specifically encouraged to enlist employers in
22providing voluntary matching donations to the amount that their
23employees save through these prepaid programs.
24(Source: P.A. 96-198, eff. 8-10-09.)".