HB2329 Summary: Early Graduation Scholarship Program

• Creates the Early Graduation Scholarship Program to be implemented by the Illinois Student Assistance Commission by September 1, 2010, in conjunction with the State Board of Education.

• Provides scholarships to full-time students who graduate from Illinois public high schools at least one semester early, with awards not exceeding two-thirds of the state foundation level of support or actual tuition, books, and fees (whichever is less) for up to 2 academic years.

• Eligible students must have passed all components of the Prairie State Achievement Examination, been Illinois residents for at least 12 months, completed the Free Application for Federal Student Aid, and signed a promissory note for reimbursement.

• Establishes the Early Graduation Scholarship Fund through deposits of per pupil funding reductions from school districts and requires the Illinois Student Assistance Commission to submit annual reports on program participation and fund balance.

• Repeals the program on July 1, 2017.