HIGHER ED AID-SHOPPING SHEET

Amends various Acts relating to the governance of public universities. Sets forth requirements concerning mandatory student fees, including the establishment of a system of internal controls over mandatory student fees, an assessment of each mandatory student fee, and the establishment of separate funds. Amends the Higher Education Student Assistance Act. Requires an institution of higher learning to provide a financial aid shopping sheet to each prospective student as part of the institution's financial aid offer to that student. Requires the Illinois Student Assistance Commission to develop a model format for the shopping sheet; sets forth what the model shopping sheet must include. Requires each institution to utilize either the model shopping sheet or the most current financial aid shopping sheet developed by the United States Department of Education or the United States Consumer Financial Protection Bureau. Effective July 1, 2020.