Thursday, March 31, 2016

The latest victims of no state budget: Illinois Tech students - KATHERINE DAVIS, Crain's Chicago Business

The Illinois budget deadlock is making it harder for students at the Illinois Institute of Technology to pay for college. Students were notified yesterday that they will have to repay the Illinois Monetary Award Program grants they received for the past fall semester. That's because Gov. Bruce Rauner vetoed a bill in February that would have provided $721 million in MAP grants and other educational spending. Now students are left with two options. They can pay back the MAP credit in full or pay it back through a 12-month MAP grant replacement loan with a 6.8 percent interest rate that begins Sept. 1. If they choose neither option, a financial hold will be placed on their account, which prevents them from registering for summer and fall classes. Registration begins April 4.

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