Bill Text: IL HB3207 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Board of Higher Education Act. Provides that, in order to prevent nonpublic, for-profit institutions of higher education from enrolling students in programs or degrees for careers in which a student's higher education loan debt will exceed the student's expected income, the Board shall adopt any rules that are necessary to prohibit nonpublic, for-profit institutions of higher education from continuing any program or degree if the estimated annual higher education loan repayment of a typical graduate from such a program or with such a degree exceeds 20% of the graduate's total annual income or 8% of the graduate's total monthly income.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3207 Detail]

Download: Illinois-2021-HB3207-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB3207 Introduced , by Rep. Nicholas K. Smith SYNOPSIS AS INTRODUCED:
110 ILCS 205/9.40 new
Amends the Board of Higher Education Act. Provides that, in order to prevent nonpublic, for-profit institutions of higher education from enrolling students in programs or degrees for careers in which a student's higher education loan debt will exceed the student's expected income, the Board shall adopt any rules that are necessary to prohibit nonpublic, for-profit institutions of higher education from continuing any program or degree if the estimated annual higher education loan repayment of a typical graduate from such a program or with such a degree exceeds 20% of the graduate's total annual income or 8% of the graduate's total monthly income.
LRB102 10467 CMG 15796 b
A BILL FOR
HB3207 LRB102 10467 CMG 15796 b
AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Board of Higher Education Act is amended by
adding Section 9.40 as follows:
(110 ILCS 205/9.40 new)
Sec. 9.40. Discontinuance of program at for-profit
institution; student loan debt. In order to prevent nonpublic,
for-profit institutions of higher education from enrolling
students in programs or degrees for careers in which a
student's higher education loan debt will exceed the student's
expected income, the Board shall adopt any rules that are
necessary to prohibit nonpublic, for-profit institutions of
higher education from continuing any program or degree if the
estimated annual higher education loan repayment of a typical
graduate from such a program or with such a degree exceeds 20%
of the graduate's total annual income or 8% of the graduate's
total monthly income.