110 ILCS 923/20

110 ILCS 923/20
in effect
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(110 ILCS 923/20) Sec. 20. Maximum loan time period; maximum loan amount. (a) Subject to appropriation, an undergraduate forgivable loan may be awarded for a maximum of 2 academic years. The amount of this loan shall not exceed $4,000 per year. (b) Subject to appropriation, a graduate forgivable loan may be awarded for a maximum of 2 academic years. The amount of this loan shall not exceed $8,000 per year. (Source: P.A. 94-497, eff. 1-1-06.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026

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