The Authority shall require that Authority Loans be used solely to make Education Loans. The Authority shall require that institutions of higher education and education loan corporations shall require that each Borrower under an Education Loan shall use the proceeds solely for the cost of attendance and that each such Borrower shall so certify.
110 ILCS 945/6.16
Use of Education Loan proceeds
Known as the Higher Education Loan Act
The act spans §§ 110-945-0-01 to 110-945-9 (53 sections).
P.A. 85-1326.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.