IL SB3899

Appropriates $891,388,700 total to the Illinois Student Assistance Commission for fiscal year beginning July 1, 2024, consisting of $817,747,600 in General Funds, $20,680,000 in Other State Funds, and $52,961,100 in Federal Funds.

Allocates $446,566,200 from General Revenue Fund for Monetary Award Program grants to eligible students, with administrative costs capped at 2% of total appropriation.

Provides $265,000,000 from Education Assistance Fund for additional Monetary Award Program grants and $50,000,000 from General Revenue Fund for AIM HIGH program payments to public universities.

Funds specialized scholarship and loan repayment programs including Golden Apple Scholars ($10,750,000), Minority Teacher Scholarships ($8,000,000), Nursing Education ($4,000,000), Social Worker Scholarships ($6,000,000), and teacher loan repayment programs.

Appropriates $38,741,100 from Student Loan Operating Fund for agency administration covering personnel, retirement contributions, insurance, contractual services, and operational expenses.