STUDENT LOANS-TEACHER FORGIVE

What it does

The legislature's own summary of the bill, or its official long title.

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.

Every action

7 steps, oldest first, as the legislature records them.

1. Feb 2, 2023SenateFiled with Secretary by Sen. Ram Villivalam
2. Feb 2, 2023SenateFirst Reading
3. Feb 2, 2023CommitteeReferred to Assignments · Senate Assignments
4. Feb 7, 2023CommitteeAssigned to Appropriations- Education · Senate Appropriations
5. Feb 14, 2023SenateAdded as Co-Sponsor Sen. Meg Loughran Cappel
6. Mar 10, 2023CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
7. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Democrat.

• Ram VillivalamD Primary sponsor · District 8