IL SB3381

Appropriates $729,303,600 total to the Illinois Student Assistance Commission for fiscal year beginning July 1, 2018, consisting of $434,969,900 from General Funds, $10,580,000 from Other State Funds, and $274,753,700 from Federal Funds.

Allocates $401,341,900 from General Revenue Fund for Monetary Award Program grants to eligible students and agency administrative costs (not to exceed 2% of total).

Funds various scholarship and grant programs including Golden Apple Scholars ($6,498,800), military veterans' scholarships ($19,921,300), Illinois National Guard and Naval Militia scholarships ($11,343,000), and teacher loan repayment programs.

Appropriates $47,553,700 from Student Loan Operating Fund for administration expenses including personnel services, retirement contributions, insurance, contractual services, and equipment.

Takes effect July 1, 2018, with appropriations authorized for all costs incurred prior to July 1, 2019.