Illinois Recoverable Grant Agreement, commonly known as the Illinois RGA, is a financial aid program offered by the state of Illinois to support college and university students. This agreement is designed to assist students in meeting their higher education expenses while ensuring accountability and financial responsibility for the funds received. The Illinois RGA is a type of financial aid that requires the student to repay the awarded funds in the future. It is considered a grant because students do not need to pay interest on the amount received, but it differs from traditional grants as it involves repayment obligations. The purpose of this program is to provide assistance to students who are unable to afford college education without taking on excessive loans. There are two primary types of Illinois Recoverable Grant Agreements available: 1. Illinois RGA-Grant: This type of agreement provides financial assistance to undergraduate students pursuing their first bachelor's degree at a participating Illinois college or university. The funds awarded can be used towards tuition fees, books, supplies, and other educational expenses. Recipients of this grant are required to fulfill specific obligations, including maintaining a minimum GPA, completing a certain number of credit hours each semester, and graduating within a prescribed timeline. 2. Illinois RGA-Match: This agreement is designed for students enrolled in select career and technical education programs that lead to high-demand occupations. The Illinois RGA-Match program establishes a partnership between students, participating institutions, and employers. Under this agreement, students receive a grant, and in return, they commit to work in designated industries or occupations upon graduation. By ensuring a match between the skills acquired and the workforce needs, this program aims to address the demand for skilled workers in Illinois. In both types of Illinois Recoverable Grant Agreements, students are required to sign a legally binding contract that outlines the terms and conditions of the grant, including the repayment obligations. Repayment of the funds is typically scheduled to commence within a specified time frame after graduation or completion of the program, and students are required to make regular payments until the full amount is repaid. To qualify for an Illinois RGA, students must meet certain eligibility criteria, which may include demonstrating financial need, being an Illinois resident, maintaining satisfactory academic progress, and being enrolled in a participating institution or program. The specific requirements and application process may vary, and it is advisable for prospective students to consult the Illinois Student Assistance Commission (ISAAC) or the financial aid office of their chosen college or university for more information. In summary, the Illinois Recoverable Grant Agreement is a financial aid program offered by the state of Illinois to assist students in pursuing higher education. It provides funds that students must repay in the future, and there are two types of agreements available: the Illinois RGA-Grant for undergraduate students pursuing their first bachelor's degree and the Illinois RGA-Match for students in career and technical education programs. These agreements aim to support students in affording college while ensuring alignment with workforce needs in Illinois.
Illinois Recoverable Grant Agreement
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How to fill out Illinois Recoverable Grant Agreement?
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If the purpose is to acquire property or services for the direct benefit or use of the federal government, the agency is to use a procurement contract; if the purpose is to stimulate or support an activity that serves a public purpose, the agency is to use a grant or cooperative agreement. Henke v. U.S. Department of Commerce, 83 F.3d 1445 - Casetext casetext.com ? case ? henke-v-us-department-of-c... casetext.com ? case ? henke-v-us-department-of-c...
Grants are awards of financial assistance, usually from a governmental agency or foundation, primarily for carrying out a public purpose of support or stimulation. A grant is distinguished from a contract, which is used to acquire property or services for the government's direct benefit or use. Grant and Contract - Division of Financial Services - Cornell University cornell.edu ? topics ? revenueclass ? grant... cornell.edu ? topics ? revenueclass ? grant...
In addition to standard terms describing grant amounts and purposes, agreements also include provisions regarding intellectual property rights, reporting requirements, and indemnification, among other subjects. Special provisions are included that deal with international philanthropy.
The government uses grants and cooperative agreements as a means of assisting researchers in developing research for the public good, whereas it uses contracts as a means of procuring a service for the benefit of the government. Grants are much more flexible than contracts. What is the difference between a Federal Grant and a Federal ... pitt.edu ? news ? what-difference-betwe... pitt.edu ? news ? what-difference-betwe...
Are B2B grant funds considered taxable income by the State of Illinois and the federal government? o Yes.
Grant agreement. ?Grant agreement? means a legal instrument of financial assistance between a Federal agency and a non-Federal entity that, consistent with 31 U.S.C.