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To be eligible, the bondholder must: A student beneficiary must: Proceeds from the bonds (70 percent must be used for educational purposes) and the BIG funds must be used by the student beneficiary in either the academic year in which the bond matures or in the academic year immediately following the maturity. Refer to the BIG Program Eligibility Based on Bond Maturity chart for examples. The bond proceeds and BIG funds must be used in the same academic year. An application must be completed during the academic year in which the funds are used. Answers to Frequently Asked Questions (FAQs) about Illinois College Savings Bonds are available on the State of Illinois Web site. |
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