Illinois Statutes Chapter 110. Higher Education § 998/10-10. Definitions

§ 10-10. Definitions. As used in this Act:

“Commission” means the Illinois Student Assistance Commission.

“Full-time employee” means an individual who is employed for consideration for at least 35 hours each week.

“Program” means the Workforce Development Through Charitable Loan Repayment Program established under this Act.

“Qualified community foundation” means a community foundation or similar publicly supported organization described in Section 170(b)(1)(A)(vi) of the Internal Revenue Code of 1986 that (i) is organized or operating in this State, (ii) substantially complies, as determined by the Commission, with the national standards for United States community foundations established by the Community Foundations National Standards or a successor entity, and (iii) is approved by the Commission for participation in the Program as provided in Section 10-17.

“Qualified worker” means an individual who meets all of the following:

“Student loan repayment assistance” means grants or post-graduation scholarships made by a community foundation directly to a student loan servicer on behalf of a qualified worker.

“Targeted growth industry” means one or more of the following:

“Underserved area” has the meaning given to that term in Section 5-5 of the Economic Development for a Growing Economy Tax Credit Act.