Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 1000 - ILLINOIS FINANCIAL ASSISTANCE ACT FOR NONPUBLIC INSTITUTIONS OF HIGHER LEARNING
Section 1000.40 - The Formula For Funding
Universal Citation: 23 IL Admin Code ยง 1000.40
Current through Register Vol. 48, No. 38, September 20, 2024
a) Institutional grants shall be determined by allocating the annual appropriation for this Act among the eligible institutions in accordance with a formula based on the number of full-time-equivalent (FTE) undergraduate, Illinois resident students enrolled at each eligible institution with double credit being given to the FTE of such students who are junior or senior (upper division) students at such institutions.
b) Reductions will be made on an institution's grant where the enrollment audit of the previous fiscal year identifies an overpayment made in that previous fiscal year.
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