Illinois Statutes Chapter 110. Higher Education § 945/3.10. Loan funding deposit

§ 3.10. Loan funding deposit. “Loan funding deposit” means monies or other property deposited by an institution of higher education or education loan corporation with the Authority or a trustee for the purpose of (a) providing security for Bonds, (b) funding a default reserve fund, (c) acquiring default insurance, or (d) defraying costs of the Authority, such monies or properties to be in such amounts as deemed necessary by the Authority as a condition for such institution's or education loan corporation's participation in the Authority's programs.