Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 650 - CHARTER SCHOOLS
Subpart D - CHARTER SCHOOL REVOLVING LOAN PROGRAM
Section 650.220 - Maximum Amount of Loan
Universal Citation: 23 IL Admin Code ยง 650.220
Current through Register Vol. 48, No. 38, September 20, 2024
The maximum loan amount shall be calculated on a per-pupil basis, based upon the total enrollment. An applicant may request a loan amount that does not exceed $750 per pupil. For approved charter schools already in their initial contract term, the maximum loan amount shall be calculated using the enrollment as reported to the State Board of Education as of March 1 of the current school year. Loan amounts for new charter schools will be calculated using the projected enrollment during the first year of the initial contract term.
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