IL HB3762

Appropriates $778,774,900 total to the Illinois Student Assistance Commission for fiscal year ending June 30, 2020, comprised of $503,741,200 in General Funds, $10,580,000 in Other State Funds, and $264,453,700 in Federal Funds.

Allocates $451,341,900 from General Revenue Fund for Monetary Award Program grant awards to eligible students and administrative costs not exceeding 2 percent.

Appropriates $35,000,000 from General Revenue Fund for AIM HIGH grant pilot program payments to eligible public universities for first and second cohorts of students.

Funds various scholarship and grant programs including $6,498,000 for Golden Apple Scholars, $3,173,300 for teacher and first responder scholarships, and $13,000,000 in federal funds for college access and outreach activities.

Appropriates $47,553,700 from Student Loan Operating Fund for agency administration and $2,500,000 for Federal Loan System Development and Maintenance, with effective date of July 1, 2019.