HB 574

Abstract

Amends the Higher Education Student Assistance Act. Requires the Illinois Student Assistance Commission to administer a student loan repayment assistance program for public sector attorneys. Subject to a separate appropriation made for such purposes, each year requires the Commission to award a grant to each qualified applicant in an amount equal to 10% of the amount of law school student loans he or she must repay that year. Provides that if a grant recipient receives a grant each year for 10 years and the amount of law school student loans he or she must repay in each of those years is at least 5% of the attorney's gross annual income, then the grant amount for the 10th year shall equal the remainder of the amount that he or she owes on the law school student loans. Provides that the total amount in grants that a person may receive must not exceed $60,000. Provides that a person is a qualified applicant if, among other qualifications, (i) the person is an attorney licensed in this State, (ii) the person is employed in a public sector job, but does not have to be employed as an attorney in that job, and (iii) the person agrees to provide at least 12 hours of pro-bono work at a qualified public sector agency each year that he or she receives a grant. Effective July 1, 2009.