IL HB5020

Amends the Higher Education Student Assistance Act to establish a priority deadline system for renewing Monetary Award Program applicants, beginning with the 2020-2021 academic year.

Renewing applicants who file by the published priority deadline are guaranteed a grant if they continue to meet eligibility requirements and funds are appropriated.

Renewing applicants who miss the priority deadline remain eligible for grants if sufficient funding is available after the deadline.

Establishes legislative intent that the Act does not reduce or eliminate Monetary Award Program funding for first-time applicants who are not freshmen.

Maintains maximum grant amounts of $6,468 for fiscal year 2011 and thereafter, subject to appropriation and institutional tuition costs.