HIGHER ED-FOR PROFIT INST-MAP

Amends the Private Business and Vocational Schools Act of 2012. In provisions regarding institution and program approval criteria, provides that a part of the criteria for approval is fair and equitable reimbursement in the case of an unfair or deceptive practice finding. Amends the Higher Education Student Assistance Act. In provisions concerning the monetary award program, makes changes to the provisions regarding the award of grants to applicants enrolled at qualified for-profit institutions, and provides that credits earned during the 2023-2024 academic year at a qualified for-profit institution may not count toward the maximum credit-hour limitation. Sets forth provisions concerning an institution that received monetary award program funds at a time the institution was using unfair or deceptive practices, including refunding State funds to the Illinois Student Assistance Commission and awarding grants to students who attended that institution. Amends the State Finance Act to create the MAP Refund Fund as a special fund in the State treasury. Effective immediately.