Illinois HB5462 amends the Human Services Professional Loan Repayment Program to extend the maximum grant duration to 4 years.
Illinois HB5462 amends the Human Services Professional Loan Repayment Program to allow recipients to receive grants for up to 4 years. The grants assist human services professionals with their educational loan payments. To be eligible, applicants must be Illinois residents, full-time employees for at least 24 months, and borrowers with an outstanding educational loan balance. The grants have different maximum amounts based on the degree level and can include an additional $5,000 for certain licensed professionals. The Commission may prioritize applicants based on need or income levels.
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