Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 2741 - OPTOMETRIC EDUCATION SCHOLARSHIP PROGRAM
Section 2741.30 - Program Procedures
Current through Register Vol. 48, No. 52, December 27, 2024
a) All applicants must complete and file the Free Application for Federal Student Aid (FAFSA) for the purpose of determining the Expected Family Contribution (EFC), which is used as a selection criterion for this award. (See Section 483 of the Higher Education Act of 1965, as amended (20 USCA 1070a).)
b) A completed ISAC application for the Optometric Education Scholarship Program must be postmarked on or before March 1 immediately preceding the academic year for which the scholarship is being requested in order to receive priority consideration for an award.
c) A total of 10 scholarships shall be awarded each year; 2 each for eligible applicants in their first year, second year, third year, and fourth year; the remaining 2 shall be awarded to students in any academic level.
d) If in any year the number of qualified applicants exceeds the number of scholarships to be awarded, priority will be given to students demonstrating exceptional merit and who are in financial need based on a combination of the following criteria:
e) If all other criteria are equal, priority consideration will be given to the qualified applicant who submitted a completed application on the earliest date.
f) A recipient may receive the equivalent of 8 semesters/12 quarters of scholarship assistance under this Part.
g) Scholarship funds are applicable toward 2 semesters/3 quarters of full-time study within an academic year.
h) The total number of scholarships awarded in a given fiscal year is contingent upon available funding.
i) To the extent necessary to administer this program within the limits of the State appropriation, the Commission may adjust the priority consideration factors established by this Section.
j) ISAC shall publish guidelines for the awarding of Optometric Education Scholarships.
k) Each qualified applicant who is selected to receive an Optometric Education Scholarship shall be notified.
l) Prior to receiving scholarship assistance for any academic year, the qualified applicant must sign a Practice Agreement/Promissory Note that is submitted to ISAC. The Practice Agreement/Promissory Note shall include the following stipulations:
m) A recipient of a scholarship awarded under this Part shall not be in violation of the agreement entered into pursuant to Section 2741.30(l) during periods in which the recipient:
n) No claim for repayment may be filed against the estate of a decedent or incompetent.
o) If a recipient is required to repay any portion of the scholarship, the repayment period shall be completed within 10 years after the scholarship converts to a loan. This 10-year period may be extended if the recipient:
p) A recipient shall enter repayment status on the earliest of the following dates:
q) A recipient shall not be required to repay the amount of the scholarships received if the recipient becomes permanently totally disabled, as established by the sworn affidavit of a licensed physician (see, e.g., 34 CFR 653.42(k)(1)), or if the recipient's representative provides ISAC with a certified death certificate.