Illinois § 4.5 Disclosure of heightened monitoring of finances

Illinois Statutes

§ 4.5 — Disclosure of heightened monitoring of finances

Illinois § 4.5

TopicEDUCATION

Ch. 110HIGHER EDUCATION

Act 110 ILCS 1005/Private College Act.

This text of Illinois § 4.5 (Disclosure of heightened monitoring of finances) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

110 Ill. Comp. Stat. 4.5 (2026).

Text

Any institution with a certificate of approval under this Act is required to make the following disclosures:

(1)If the United States Department of Education places the institution on either the Heightened Cash Monitoring 2 payment method or the reimbursement payment method, as authorized under 34 CFR 668.162, a clear and conspicuous disclosure that the United States Department of Education has heightened monitoring of the institution's finances and the reason for such monitoring. Such disclosure shall be made by the institution within 14 days of the action of the United States Department of Education by (i) notice on the institution's website, (ii) notice to all students and prospective students on a form prescribed by the Board, and (iii) written notice to the Board.

(2)Any other disclo

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Any institution with a certificate of approval under this Act is required to make the following disclosures: (1) If the United States Department of Education places the institution on either the Heightened Cash Monitoring 2 payment method or the reimbursement payment method, as authorized under 34 CFR 668.162, a clear and conspicuous disclosure that the United States Department of Education has heightened monitoring of the institution's finances and the reason for such monitoring. Such disclosure shall be made by the institution within 14 days of the action of the United States Department of Education by (i) notice on the institution's website, (ii) notice to all students and prospective students on a form prescribed by the Board, and (iii) written notice to the Board. (2) Any other disclosure the Board requires by rule adopted pursuant to this Act.