SB1592 Summary

• Establishes academic performance requirement for Monetary Award Program grant renewal: students not meeting minimum grades to continue attendance at their institution are ineligible for grants in the following academic year.

• Sets maximum grant amounts at $5,468 for fiscal year 2009, $5,968 for fiscal year 2010, and $6,468 for fiscal year 2011 and thereafter, subject to appropriation and available funds.

• Requires the Illinois Student Assistance Commission to assess educational persistence and academic success of grant recipients, including retention rates, grade point average, and degree completion, with biennial reporting to the General Assembly and Board of Higher Education starting February 1, 1999.

• Directs the Commission to request recommendations from the Illinois Association of Student Financial Aid Administrators on how to determine the number and distribution of grants offered.

• Requires institutions to provide grant recipient data to the Commission upon request, including completion rates, remedial course information, fields of study, and institutional aid details, with annual compilation into a report to the General Assembly and Governor.