SB0309 - STUDENT LOANS-TEACHER FORGIVE
Illinois - 103rd General Assembly
Introduced byRam Villivalam, Meg Loughran Cappel
Last updated over 1 year ago
2 Co-Sponsors
Amends the Higher Education Student Assistance Act. Creates the Teacher Loan Repayment Program. Provides that the Illinois Student Assistance Commission shall consider applications for forgiving portions of qualified applicant's education loans each year. Provides that 10% of the applicant's yearly loan balance shall be forgiven each year for 5 years or until 50% of the applicant's outstanding balance at the time of the initial application is paid off. Effective July 1, 2024.
STATUS
Introduced
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