CHICAGO (AP) -- The head of the said today that eight of its members decided to provide $100 million in college aid to offer students a helping hand.

Governor Rod Blagojevich made the funding announcement today, saying it will fill a void in the loan industry caused by an exodus of investment banks. He says it's become more difficult for college students to find affordable loans.

Blagojevich says state-administered college tuition aid has been dwindling since 2007.

The replacement funding will total $100 million and be disbursed as Stafford loans. The Illinois Credit Union League says terms of the deal require the Illinois Department of Education to be a guaranteed bond buyer.

Stafford loans are available to students without a credit check. They can be used toward tuition, room and board and books.

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