SCHOOL-AS-LENDER CONTRACTS Senate SponsorsSen. Martin A. Sandoval 1/9/2007SenateSession Sine Die New ActCreates the School-As-Lender Contracts Prohibition Act. Prohibits a public university in Illinois that offers graduate courses from entering into a school-as-lender contract with a private lending institution, but allows the university to maintain its Direct Loan Programs. Provides that any university that violates the Act shall forfeit $8.91 of State funding for every $100 loaned to the university through a school-as-lender contract. 11/2/2005SenateFiled with Secretary by Sen. Martin A. Sandoval 11/2/2005SenateFirst Reading 11/2/2005SenateReferred to Rules 1/9/2007SenateSession Sine Die