The Illinois Financial Assistance Act should be continued as a program of direct grants to private colleges and universities. The formula for awarding grants should be based on full-time-equivalent enrollments rather than the enrollment of full-time students. In future years, the appropriation for this Act should be increased in recognition of inflationary advances so that this program continues to support a relatively constant proportion of private college and university expenditures.
Ill. Admin. Code tit. 23, § 1070.206