EARLY GRADUATION SCHOLARSHIP

Amends the School Code and the State Finance Act. Creates the Early Graduation Scholarship Program, to be implemented and administered by the Illinois Student Assistance Commission on or before September 1, 2010, in conjunction with the State Board of Education. Requires each school district that provides instruction in grades 9 through 12 in this State to participate in and promote to students the program. Provides that participating full-time students who graduate from public high school at least one year early shall receive a scholarship in an amount not to exceed two-thirds of the foundation level of support amount specified in the State aid formula provisions of the School Code or the actual cost of tuition, books, and fees, whichever is less, in both the first academic year of postsecondary instruction and the second academic year of postsecondary instruction, to be used to pay all or a portion of the tuition, books, and fees charged at an institution of higher learning in this State for a maximum of 2 academic years. Also provides for scholarships for full-time students who graduate one semester early and part-time students. Contains provisions concerning eligibility, funding, including the creation of the Early Graduation Scholarship Fund, and submission of an annual report. Repeals these provisions on July 1, 2017.