Higher Education Loan Act

Sections covered

• 110 ILCS 945/0.01Short title
• 110 ILCS 945/10Bonds
• 110 ILCS 945/11Trust agreement to secure Bonds
• 110 ILCS 945/12Bonds as obligation of Authority only
• 110 ILCS 945/13Pledge of Revenues
• 110 ILCS 945/14Funds from sale of Bonds as trust funds - Application of funds
• 110 ILCS 945/15Rights of Bond holders
• 110 ILCS 945/16(Repealed)
• 110 ILCS 945/17(Repealed)
• 110 ILCS 945/18Bonds as legal investments
• 110 ILCS 945/19(Repealed)
• 110 ILCS 945/2Declaration of Purpose
• 110 ILCS 945/20Waiver of competitive bidding
• 110 ILCS 945/21(Repealed)
• 110 ILCS 945/22Powers - Interest rates
• 110 ILCS 945/23Act as alternative method - Application of Bond law - Powers not subject to supervision or regulation by other element or government
• 110 ILCS 945/24Liberal construction of Act
• 110 ILCS 945/25(Repealed)
• 110 ILCS 945/3Definitions
• 110 ILCS 945/3.01Authority
• 110 ILCS 945/3.02Authority Loans
• 110 ILCS 945/3.03(Repealed)
• 110 ILCS 945/3.04(Repealed)
• 110 ILCS 945/3.05Borrower
• 110 ILCS 945/3.06Default insurance
• 110 ILCS 945/3.07Default reserve fund
• 110 ILCS 945/3.08Cost of Attendance
• 110 ILCS 945/3.09Education Loan
• 110 ILCS 945/3.09aEducation Loan Corporation
• 110 ILCS 945/3.10Loan funding deposit
• 110 ILCS 945/3.11(Repealed)
• 110 ILCS 945/3.12Parent
• 110 ILCS 945/3.13Education loan series portfolio
• 110 ILCS 945/4(Repealed)
• 110 ILCS 945/5Transfer of functions from the Illinois Educational Facilities Authority to the Illinois Finance Authority
• 110 ILCS 945/6Functions and powers of Authority
• 110 ILCS 945/6.05Determination of qualified financings and establishment of financing programs
• 110 ILCS 945/6.06(Repealed)
• 110 ILCS 945/6.07(Repealed)
• 110 ILCS 945/6.08Establishment of rules and regulations
• 110 ILCS 945/6.09(Repealed)
• 110 ILCS 945/6.10Receipt and acceptance of loans, contributions or grants
• 110 ILCS 945/6.11Making Authority Loans to institutions of higher education and education loan corporations
• 110 ILCS 945/6.12Apportionment of administrative costs and expenses among participating institutions of higher education and education loan corporations
• 110 ILCS 945/6.13Borrowing funds for operations
• 110 ILCS 945/6.14Combining Education Loan series portfolios for financing purposes
• 110 ILCS 945/6.15Examining records
• 110 ILCS 945/6.16Use of Education Loan proceeds
• 110 ILCS 945/6.17Refunding Bonds and reduction of debt
• 110 ILCS 945/6.18Necessary and proper actions
• 110 ILCS 945/7Expenses of Authority - Limitation of liability for expense
• 110 ILCS 945/8Acquisition of certain monies, endowments, and properties and guarantees thereto
• 110 ILCS 945/9Conveyance of loan funding deposit after payment of principal and interest