Current through Register Vol. 48, No. 52, December 27, 2024
a)
Scholarship Amount
1) In accordance with this
subsection (a), the recipient's postsecondary institution shall compute the
amount of the scholarship and shall submit a request form.
2) Except as otherwise provided in this
subsection (a), scholarships shall be in the amount of $5,000 if the student is
enrolled for the full academic year. The maximum scholarship for one semester
is $2,500; the maximum scholarship for one quarter is $1,666.67.
3) If a Paul Douglas Teacher Scholarship,
when added to the amount the applicant is to receive for the same academic year
under Title IV of the Higher Education Act of 1965, as amended ( 20 U.S.C.A.
107011 et seq.), would exceed the applicant's cost of attendance, as defined at
Section 472 of the Higher Education Act of 1965, as amended ( 20 U.S.C.A.
108711), the institution shall take the receipt of the scholarship into
account in determining the student's eligibility for other federal financial
aid programs. A Paul Douglas Teacher Scholarship shall not be reduced because
of the receipt of other federal student assistance.
4) In any academic year in which the
recipient accepts financial assistance through the Special Education Teacher
Tuition Waiver Program (see: 23 Ill. Adm. Code 2765), DeBolt Teacher Shortage
Scholarship Program (see: 23 Ill. Adm. Code 2764), or the Minority Teachers of
Illinois Scholarship Program (see: 23 Ill. Adm. Code 2763), the recipient shall
not be eligible for scholarship assistance under this Part.
5) A recipient may receive grant assistance
under the Monetary Award Program (23 Ill. Adm. Code 2735) only up to the amount
by which the recipient's cost of attendance exceeds the amount of the
scholarship.
b)
Scholarship funds are applicable towards two semesters/three quarters of
full-time study within an academic year. Upon receipt of scholarship funds, the
institution shall verify that the recipient continues to be enrolled. The
institution may then credit scholarship funds to the recipient's account for
expenses due and payable. The balance of the scholarship funds shall be
released to the recipient. If the recipient withdraws from enrollment, the
institution shall return the amount of the scholarship to ISAC for the
semester(s) or quarter(s) not attended.
c) Out-of-state institutions that are
eligible to participate in Title IV federal student financial aid programs need
not execute a Program Participation Agreement with ISAC to receive funds on
behalf of recipients.