IL HB2143

Appropriates $860,918,600 to the Illinois Student Assistance Commission for fiscal year beginning July 1, 2011, comprising $450,031,100 in general funds, $25,510,000 in other state funds, and $385,377,500 in federal funds.

Allocates $44,477,500 from the Student Loan Operating Fund for commission administration, including personnel services, employee benefits, contractual services, and equipment.

Appropriates $403,896,100 from the General Revenue Fund and $25,000,000 from the Education Assistance Fund for Monetary Award Program grant awards to eligible students.

Provides funding for various scholarship programs including military veterans' scholarships ($6,000,000), teacher scholarships ($2,000,000), Illinois Scholars scholarships ($3,160,000), and National Guard scholarships ($4,420,000).

Allocates $290,000,000 from the Federal Student Loan Fund for loan guarantees, collection payments, default aversion fees, and other federal loan administration activities.