IL HB5782

Establishes the Jump Start Scholarship Program administered by the Illinois Student Assistance Commission to reward high school students who graduate in 3 years or less.

Funds scholarships using a portion of state general financial aid savings resulting from early graduation, with amounts calculated based on per pupil aid received by the student's school district.

Requires students to be Illinois residents, graduate from a public high school in 3 years or less, attend that high school full-time for at least 2 semesters, and enroll in an accredited Illinois college, university, or technical school within one year of graduation.

Scholarship payments split into two installments (fall and spring semesters), with half paid at the beginning of fall semester and half at the beginning of spring semester, provided the student remains full-time enrolled.

Eligible students must apply for college admission by September 1st following high school graduation, with institutions submitting eligible student names to the Commission by October 1st (fall semester) and February 25th (spring semester) for fund distribution.