IL SB3451

Creates a "Pay Forward, Pay Back" pilot program at one public Illinois institution of higher education to replace traditional tuition and fee charges for undergraduate students.

Eligible in-state undergraduate students attend without paying tuition, fees, books, supplies, or room and board, but must sign binding contracts to repay a percentage of their annual adjusted gross income for a specified number of years after graduation.

Repayment obligations must begin within 10 years of graduation, with payment terms and percentages based on current research.

Institution must guarantee graduation within 4 years for students who maintain sufficient academic progress and do not change their major.

Requires immediate funding for the first 15 to 20 years of the pilot program with a revolving fund for repayment collections, and mandates Board of Higher Education reports to the General Assembly on program compliance and expansion feasibility.