SPRINGFIELD – On Thursday, Senator Bill Cunningham and officials from the University of Illinois announced a new financial aid program that will be a part of the larger University of Illinois “Investment, Performance, and Accountability Commitment.” The goal of the commitment is to set a tuition cap and increase access to the University of Illinois for Illinois students.

“This new program continues to drive home the fact that universities like the U of I system should be finding ways to bring real results for Illinois taxpayers,” Cunningham said. “This legislation is a step in the right direction to ensure taxpayer money being spent is doing what it is supposed to be doing, helping Illinois.”

The legislation, Senate Bill 222, would guarantee a minimum level of funding for the University of Illinois system in return for the system meeting certain benchmarks including a tuition cap and increased access for Illinois students. The forthcoming amendment looks to help U of I achieve the goals set. If the university system were to fail their expectations the state could withhold a portion of the guaranteed funding.

“This legislation could be a template for other universities throughout the state,” Cunningham said. “It provides stability in university planning and gives the Illinois taxpayers tangible results on how that money is being spent.”

Senate Bill 222 is currently under consideration by the Senate’s Higher Education committee.