SPRINGFIELD – Legislation sponsored by State Senator Laura Ellman (D-Naperville) that would allow students to use 529 college savings accounts for other education-related purposes without additional taxation passed the General Assembly on Thursday, May 27.
“This legislation would allow college savings plans to be used in more ways to reflect the realities of modern-day higher education,” Ellman said. “Students need and should be able to use their savings plans to pay for loans or job-training programs.”
The legislation would allow up to $10,000 to be used for additional education-related purposes without being taxed, making Illinois law consistent with federal law.
The additional education-related purposes are:
“Every student in Illinois, regardless of background, deserves a chance to succeed and decide their future,” Ellman said. “Expanding how students can use this savings program provides them with more options for the future.”
House Bill 741 passed the Illinois Senate on Thursday, May 27.
SPRINGFIELD – A measure sponsored by State Senator Laura Ellman (D-Naperville) that would allow the student member of the Illinois Student Assistance Commission to retain their seat until a new member is appointed passed committee on Tuesday.
“This measure would allow ISAC’s student commissioner to retain their seat after their term is over until a new commissioner is appointed,” Ellman said.
ISAC’s mission is to provide Illinois students with information and assistance to help make education beyond high school accessible and affordable.
The measure would allow the student member of the commission to retain their seat beyond the expiration of their term until a new and qualified student member is appointed. The measure would also replace gendered pronouns when referring to the student member.
“When ISAC doesn’t have a student commissioner, it loses a student perspective during important policy discussions,” Ellman said. “This ensures that Illinois students will always have a voice.”
Currently, the student commissioner's term is two years. If a vacancy occurs during the term a new student appointee filling a vacancy may serve only for the remainder of that term. This has led to gaps between student commissioners, leaving the commission without a student perspective. It also contributes to delays in the commission's work when meetings have to be rescheduled due to lack of quorum.
House Bill 1802 passed the Senate Higher Education Committee with a vote of 12-0 and now heads to the Senate floor for further consideration.
SPRINGFIELD – A measure sponsored by State Senator Laura Ellman (D-Naperville) that would allow students to use 529 college savings accounts for additional purposes without additional taxation passed committee on Wednesday.
“This measure expands the uses of college savings plans to better reflect the realities of higher education,” Ellman said. “Some students need to use their savings plans to pay for loans or job-training programs.”
The measure would allow up to $10,000 to be used for additional education-related purposes without being taxed, making Illinois law consistent with federal law.
The additional education-related purposes are:
“Every resident of Illinois deserves the chance to succeed and decide their future,” Ellman said. “Broadening the uses of this savings program gives our young people more options.”
House Bill 741 passed the Senate Financial Institutions Committee without opposition and now heads to the Senate floor for further consideration.
SPRINGFIELD – State Senator Laura Ellman (D-Naperville) recently honored 959 Naperville-area high school students who were named 2021-22 Illinois State Scholars by the Illinois Student Assistance Commission.
Illinois State Scholar winners rank in approximately the top 10% of the state’s high school seniors from 676 high schools in all 102 counties. Selection is based on a combination of standardized test scores and class rank or unweighted GPA at the end of the student’s junior year. ISAC works in conjunction with the students’ high school guidance counselors to determine the winners.
“It’s no secret the last two school years have been tough,” Ellman said. “That is why I’m so proud of these students for earning this award. Not only did the students perform admirably, but they did it during a once-in-a-lifetime pandemic. I want to recognize their support systems as well. The school staffs across the district have done an exceptional job.”
The scholars from the Naperville area include students from nine area high schools, including Benet Academy, Lisle, Naperville Central, Naperville Christian, Naperville North, Neuqua Valley, St. Francis, Wheaton North and Wheaton Warrenville South high schools.
Recipients of the award will receive a congratulatory letter from ISAC, and a Certificate of Achievement will be sent to their high school. State Scholars will also receive a digital badge issued by ISAC that can be displayed on online profiles, exhibited on social media, and shared with prospective colleges and employers.
“I hope these students will use these awards to their benefit during the college admissions process,” Ellman said. “After the last two years, they deserve all the recognition they can get.”
More information about the State Scholar program can be found at ISAC’s website.
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