Correction: The amended bill would give close to half of MAP funding needed at about $170 million and would give NIU about $26.5 million, less than a third of what they received last year. The act will be valid for costs incurred prior to Sept. 1, 2016. 

Monetary Award Program grants will be paid for by the state with a $600 million short-term fund.

Comptroller Leslie Munger issued a statement today stating her staff has begun applying the $345 million available from the Illinois Education Assistance Fund to universities, community colleges and students today, according to the statement.

SB 2059 was passed in the House, 106-2, and the Senate unanimously today. Gov. Bruce Rauner is expected to sign the bill.

The amended bill would give close to half of MAP funding needed at about $170 million and would give NIU about $26.5 million, less than a third of what they received last year.  

The act will be valid for costs incurred prior to Sept. 1, 2016.