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Code · Illinois · Chapter 110 — HIGHER EDUCATION · Act 991

Sec. 10. Definitions.

127 words·~1 min read·/il/chapter-110/act-991/10

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Sec. 10. Definitions. As used in this Act:
"Borrower" means an Illinois resident who has received an education loan or an Illinois resident parent who has received or agreed to pay an education loan, subject to approval by the State Treasurer.
"Education loan" means a loan made to a borrower in accordance with this Act to finance an Illinois resident student's attendance at an institution of higher education.
"Institution of higher education" means a post-secondary educational institution located in Illinois and approved by the State Treasurer.
"Refinance loan" means a loan made to an Illinois resident in accordance with this Act to refinance an existing loan used to finance post-secondary education.
"Student Investment Account" means that portion of the Treasurer's State Investment Portfolio described in Section 15.
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