SB1711 Summary

• Amends the Higher Education Student Assistance Act to limit eligibility for monetary award program grants to 4 academic years, or the normal time required to complete the degree program if longer, excluding non-traditional students as defined by the Commission.

• Maintains existing eligibility requirements that applicants must be Illinois residents and U.S. citizens or permanent residents who would be deterred by financial need from completing their education program.

• Preserves the maximum grant amount of $6,468 per fiscal year (as of fiscal year 2011 and thereafter) and limits grants to tuition and necessary fees only.

• Adds a legislative finding supporting the Monetary Award Program's purpose to serve both traditional students entering college after high school and non-traditional students, including dislocated workers, with special consideration for dislocated workers during 2015-2016 and 2016-2017 academic years.

• Establishes that the Monetary Award Program Reserve Fund may not exceed 2% of annual state appropriations and may only be used to make grants to eligible students.