Current through Register Vol. 48, No. 38, September 20, 2024
Any candidate in a program administered under this Part may
receive a forgivable loan for direct expenses associated with completion of the
Early Childhood teacher preparation program, provided those expenditures are
not otherwise paid for through grants-in-aid, other forgivable loans, or other
resources of the consortium. Any amount expended for an individual's direct
expenses shall be considered a part of that individual's loan, regardless of
how the payment is administered and regardless of whether the individual
receives any actual payment of funds. The total amount of any candidate's loan
shall not exceed $12,000.
a) Loan
funds provided to candidates as part of this program shall be fully forgiven if
a graduate completes five years of service in a State-funded preschool
education program established pursuant to Section 2-3.71 of the School Code.
Forgiveness and repayment of loans shall be determined as provided in this
Section.
b) An individual may
accrue the service required for forgiveness of loans under this Part in one or
more State-funded preschool education programs.
c) If an individual has not assumed
employment in a State-funded preschool education program or position within two
years after receiving a professional educator license endorsed in early
childhood education, the individual shall be required to begin the repayment of
amounts loaned under this Part. No interest shall apply. An individual who
drops out of the program shall be required to begin repaying the amounts loaned
in the month following the month when it becomes evident that he or she will
not be completing any of the program's requirements for two consecutive
semesters.
d) If an individual has
not completed five years of service within 10 years after receiving a
professional educator license endorsed for early childhood education, the
individual shall be required to begin the repayment of amounts loaned under
this Part. The amount due shall be the total amount borrowed, less a percentage
reflecting the relationship that any time taught by the individual in
State-funded preschool education programs or positions bears to the total
five-year commitment. Loan amounts shall be reduced in increments of 10 percent
for each semester completed.
e)
Repayment of loans shall be made in no more than 60 equal installments. The
minimum monthly payment will be determined by dividing the total amount due by
60. An individual may prepay the balance due on the loan in its entirety at any
time or make payments in addition to the minimum amount owed each month without
penalty.
f) In addition to the loan
forgiveness in accordance with subsection (a), the State Superintendent may
defer or waive an individual's obligation to repay an amount due as provided in
this subsection (f).
1) The State
Superintendent shall waive the repayment obligation for an individual who is
counseled out of a preparation program or found ineligible to continue,
provided that the individual's exit from the program is not due to a violation
of law or of applicable institutional policies.
2) The State Superintendent shall waive the
repayment obligation for an individual who drops out of a preparation program
or demonstrates that he or she is unable to complete a portion of the required
teaching service due to:
A) the onset or
exacerbation of a disability;
B)
the need to care for an immediate family member during serious illness or
disability;
C) destruction of the
individual's residence; or
D) other
circumstances that require the individual to assume responsibilities that
cannot be avoided without serious financial hardship or other family disruption
(e.g., death of a spouse that results in the need to take a second job or
assume operation of a business).
3) The State Superintendent shall waive the
repayment obligation for a candidate who does not complete a preparation
program due to the unavailability of a State appropriation for this initiative
for at least two consecutive years.
4) The State Superintendent shall defer the
repayment obligation for a period of time specifically related to the
circumstances when an individual:
A) is
unemployed or is working for fewer than 30 hours per week; or
B) is experiencing a financial hardship
(e.g., receiving public assistance or earning an amount per month that is no
greater than 200 percent of the amount of the loan payment, or experiencing
circumstances such as those outlined in subsection (f)(2)); or
C) has re-enrolled as a full-time student in
an institution of higher education or in a program under this Part.
5) Each request for a waiver or
deferral of repayment shall be submitted by a representative of the partnership
under whose auspices the individual is or was enrolled in teacher preparation.
Using a format specified by the State Superintendent, the representative and
the affected individual shall describe the specific circumstances that apply.
This description shall be accompanied by evidence such as a physician's
statement, insurance claim, or other documentation of the relevant
facts.
g) When a
professional educator license is issued to an individual who received
assistance under this Part, the license shall be accompanied by:
1) a statement indicating the total amount of
the loan received by the individual and the amount due and identifying the
dates applicable to repayment under this Section; and
2) a claim form that the individual may use
to claim forgiveness of the loan amount, which shall require the individual to
identify the periods of service completed in a State-funded preschool education
program or positions and the school administrators who can verify the
individual's service.
h)
Management of Loans
1) It shall be the
responsibility of the four-year institution of higher education to assist the
State Board of Education with the forgivable loan process in the following
manner:
A) by keeping records of the amounts
provided to or on behalf of each individual for direct expenses;
B) by keeping up-to-date contact information
regarding the address and telephone number of each individual during the
individual's preparation at that institution; and
C) by notifying the State Superintendent of
Education within 30 days after a candidate fails to enroll in coursework as
expected or otherwise ceases to participate in the program and informing the
State Superintendent of the total amount of the candidate's loan for direct
expenses as of that point in time.
2) Each institution of higher education shall
notify the State Superintendent as to who will be responsible for this
information and shall provide contact information for the responsible
individual within the institution.
i) It shall be the responsibility of the
State Superintendent of Education to take any actions as may be necessary to
secure repayment when necessary.
