ISAC Program FY21 Funding – Budget Bill Approved
Yesterday, Governor Pritzker signed SB 264 (operating budget bill) and HB 357 [budget implementation bill (BIMP)], which together provide funding for Illinois programs and services, including ISAC's programs for the 2021 fiscal year (FY21). Both bills were approved by the General Assembly during the shortened legislative session that concluded over the Memorial Day weekend, and were then forwarded to the governor for signature.
The bills are now considered law and are officially Public Acts 101-637 and 101-636. ISAC's programs and services received funding that is essentially level to FY20 amounts. The FY21 appropriations for ISAC programs that will benefit Illinois students and their families are:
FY21 ISAC Program Appropriations
Monetary Award Program (MAP) – $451,341,900
Grant Programs for Dependents of Police, Fire or Correctional Officers – $1,273,300
Golden Apple Scholars of Illinois Program – $6,498,000
Minority Teachers of Illinois (MTI) Scholarship Program – $1,900,000
Illinois Teachers Loan Repayment Program – $439,900
Nurse Educator Loan Repayment Program – $264,000
Veterans' Home Medical Providers' Loan Repayment Program – $26,400
Grant Program for Exonerees – $150,000
AIM HIGH Grant Pilot Program* – $35,000,000
* AIM HIGH Program funds are disbursed in lump sums by ISAC to public universities. The AIM HIGH funds are not restricted by cohort for FY21, and Article 26 of PA 101-637 (the operating budget) also removes the cohort restrictions that had been placed on AIM HIGH funding for FY20.
The budget also includes a little more than $4.26 million for the Illinois Community College Board (ICCB) to reimburse Illinois community colleges for the costs associated with waiving tuition and fee charges for Illinois Veteran Grant (IVG) and (new for FY21) Illinois National Guard (ING) Grant recipients.
With the timely approval of the budget, ISAC FY21 program operations are expected to again experience a "business as usual" processing environment. As such, we will regularly provide updates and operational details regarding each of our programs as we proceed through the year.
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