SPRINGFIELD, Ill. (AP) - The University of Illinois says it will promise to reserve 85 percent of financial aid for Illinois residents if pending state funding legislation is approved.
University President Tim Killeen called the "Invest in Illinois" measure an effort to keep Illinois high school graduates in state for college and stem a growing loss of students to out-of-state schools. The measure was introduced as an amendment to the funding legislation on Thursday.
Killeen said the university would commit at least $170 million a year for the next five years to students from Illinois if the state approves the funding legislation.
The $170 million isn't new money. It is the amount the university already gives to in-state students. But university officials say moving forward the school would reserve 85 percent of any financial aid growth for in-state students.