08/10/2011 03:30 pm ET Updated Oct 10, 2011

Alexi Giannoulias Chosen By Pat Quinn To Head State Community College Board

Illinois Governor Pat Quinn (D) plans to name former state treasurer and one-time U.S. Senate candidate Alexi Giannoulias as the new chairman of the Illinois Community College Board.

The position, a part-time one, is an unpaid undertaking for Giannoulias, who told theChicago Sun-Times that he plans, next month, to announce a new full-time job he will be taking on in addition to the new post.

“I’m incredibly excited to help reform our community colleges here in Illinois,” Giannoulias told the paper. "Putting Americans back to work is the single greatest challenge facing our country. A well-educated work force is crucial to that. This meshes my two passions: education and creating jobs."

As NBC Chicago points out, Giannoulias has not exactly been sitting on his hands since he narrowly lost to Republican Mark Kirk in last fall's Senate race -- arguably a large part due to widespread criticism of his failed college savings program, Bright Start, as well as the financial collapse of his family's Broadway Bank. He is reportedly preparing for a political science class he will teach this fall. Earlier this year, he told Fox Chicago that, in addition to teaching, he has not ruled out a return to the political arena.

"I believe in public service but I believe there's different avenues to do it, whether it's teaching, helping not-for-profits, getting involved in civic duties or putting your name on the ballot," Giannoulias told Fox Chicago in May.

Giannoulias will replace the board's outgoing chairman, Guy Alongi, who had previously been in the position since 2003.