SPRINGFIELD - Joining U.S. Senator Dick Durbin, Democrat State Rep. Jay Hoffman is attempting to woo the youth vote this year by sponsoring legislation that would give interest-free loans to college students.
Hoffman's bill (HB5323) would direct the Illinois Student Assistance Commission to study a pay-it-forward type of loan program in which students attending community colleges or state universities would have to sign a contract to repay the costs of their education to the state from a portion of their adjusted gross income following graduation.
The measure last week unanimously passed the House Higher Education Committee and goes to the House floor.
See also: Durbin to Transfer Student Loan Debt and Cost of Textbooks to Taxpayers