Current through Register Vol. 46, No. 15, April 8, 2022
Every program under the initiative shall implement a
program of forgivable loans to cover any portion of tuition, books, and fees of
candidates under the program in excess of the candidates' grants-in-aid. All
students admitted to a cohort shall be eligible for a forgivable student loan.
Loans shall be fully forgiven if a graduate completes 5 years of service in
hard-to-staff schools or hard-to-staff teaching positions, with partial
forgiveness for shorter periods of service. Grow Your Own Illinois shall
establish standards for the approval of requests for waivers or deferrals from
individuals to waive this obligation. GYOI shall also define standards for the
fiscal management of these loan funds. (Section 25(a) of the Act) Any
candidate in a program administered under this Part may receive a forgivable
loan for tuition, books and fees associated with completion of the teacher
preparation program, provided those expenditures are not otherwise paid for
through grants-in-aid or other resources of the consortium. Any amount expended
for an individual's tuition, books and fees shall be considered a part of that
individual's loan, regardless of how the payment is administered and regardless
of whether the individual receives any actual payment of funds. The cumulative
total amount of any candidate's loan shall not exceed $25,000.
a) Pursuant to Section 25(a) of the Act, loan
funds provided to candidates as part of this program shall be fully
forgiven if a graduate completes 5 years of service in hard-to-staff schools or
hard-to-staff teaching positions, with partial forgiveness for shorter periods
of service. Forgiveness and repayment of loans shall be determined as
provided in this Section.
b) An
individual may accrue the service required for forgiveness of loans under this
Part in one or more eligible schools or positions.
c) If an individual has not assumed
employment in an eligible school or position within 2 years after receiving a
teaching license/certificate, the individual shall be required to begin the
repayment of amounts loaned under this Part. No interest shall apply.
d) An individual who drops out of the program
shall be required to begin repaying the amounts loaned in the month following
the month when it becomes evident that he or she will not be completing
coursework required under the teacher preparation program for 2 consecutive
semesters.
e) If a graduate has not
completed 5 years of service within 10 years after receiving a teaching
license/certificate, the individual shall be required to begin the repayment of
amounts loaned under this Part. The amount due shall be the total amount
borrowed, less a percentage reflecting the relationship that any time taught by
the individual in eligible schools or positions bears to the total 5 year
commitment. Loan amounts shall be reduced in increments of 10% for each
semester completed.
f) Repayment of
loans shall be made in no more than 60 equal installments. The minimum monthly
payment will be determined by dividing the total amount due by 60. An
individual may prepay the balance due on the loan in its entirety at any time
or make payments in addition to the minimum amount owed each month without
penalty.
g) In addition to the loan
forgiveness permitted under Section 25 of the Act, GYOI may defer or waive an
individual's obligation to repay an amount due as provided in this subsection
(g).
1) GYOI shall waive the repayment
obligation for an individual who is counseled out of a preparation program or
found ineligible to continue, provided that the individual's exit from the
program is not due to a violation of law or of applicable institutional
policies.
2) GYOI shall waive the
repayment obligation for an individual who drops out of a preparation program
or demonstrates that he or she is unable to complete a portion of the required
teaching service due to:
A) The onset or
exacerbation of a disability;
B)
The need to care for an immediate family member during serious illness or
disability;
C) Destruction of the
individual's residence; or
D) Other
circumstances that require the individual to assume responsibilities that
cannot be avoided without serious financial hardship or other family disruption
(e.g., death of a spouse that results in the need to take a second job or
assume operation of a business).
3) GYOI shall waive the repayment obligation
for a candidate who does not complete a preparation program due to the
unavailability of a State appropriation for this initiative for at least 2
consecutive years.
4) GYOI shall
waive the repayment obligation for any candidate in good standing who cannot
complete the preparation program due to the consortium's ineligibility for
funds under Section
1085.70.
5) GYOI shall defer the repayment obligation
for a period of time specifically related to the circumstances when an
individual:
A) Is unemployed or is working
for fewer than 30 hours per week;
B) Is experiencing a financial hardship
(e.g., receiving public assistance, earning an amount per month that is no
greater than 200% of the amount of the loan payment, or experiencing
circumstances such as those outlined in subsection (g)(2) of this
Section);
C) Has re-enrolled as a
full-time student in an institution of higher education (for example, to pursue
a master's degree) or in a program under this Part (for example, to obtain
program training by attending a teacher education program for a specialized
area, such as math or science); or
D) Is deployed for active duty as a member of
the U.S. Armed Services, reserve forces of the United States or as a member of
the Illinois National Guard.
6) Each request for a waiver or deferral of
repayment shall be submitted in a format specified by GYOI. The affected
individual shall describe the specific circumstances that apply. This
description shall be accompanied by evidence such as a physician's statement,
insurance claim or other documentation of the relevant facts.
h) When a teaching
license/certificate is issued to an individual who received assistance under
this Part, the license/certificate shall be accompanied by:
1) A statement indicating the total amount of
the loan received by the individual and identifying the dates applicable to
repayment under this Section; and
2) A claim form that the individual may use
to claim forgiveness of the loan amount, which shall require the individual to
identify the periods of service completed in eligible schools or positions and
the school administrators who can verify the individual's service.
i) Management of Loans
1) It shall be the responsibility of each 4
year institution of higher education, and of any 2 year institution that
participates in a consortium, to assist GYOI with the forgivable loan process
in the following manner:
A) By keeping
records of the amounts provided to or on behalf of each individual for tuition,
fees and books;
B) By keeping
up-to-date contact information regarding the address and telephone number of
each individual during the individual's preparation at that institution;
and
C) By notifying GYOI within 30
days after a candidate fails to enroll in coursework as expected or otherwise
ceases to participate in the program and informing GYOI of the total amount of
the candidate's loan for direct expenses as of that point in time.
2) When a candidate leaves a 2
year institution and enters a 4 year institution to continue in a program under
this Part, the 2 year institution shall inform both GYOI and the 4 year
institution of the total amount of the candidate's loan for direct expenses as
of that point in time. Each 2 year institution shall ensure that the affected 4
year institution continues to receive any information that subsequently affects
the amount of a candidate's loan.
3) Each institution shall notify GYOI as to
who will be responsible for this information and shall provide contact
information for the responsible individual within the institution.
j) It shall be the
responsibility of GYOI to take such actions as may be necessary to secure
repayment when necessary.
