The Illinois Student Assistance Commission does not oversee a state loan program, but they do have a series of programs they call 'scholarships', but which actually turn into student loans if the student does not abide by its terms.
Among these are:
Illinois Special Education Teacher Tuition Waiver (SETTW)
Students are exempt from paying tuition and fees if they commit to begin teaching in the field of special education within 1 year of leaving college, and continue to teach at least 2 of the next 5 years.
If the teaching commitment is not fulfilled, students must repay a prorated amount, plus interest.
Minority Teachers of Illinois (MTI) Scholarship
Students get up to $5,000 per year for tuition, fees and room and board. African American/Black, Hispanic American, Native American, or Asian American students are eligible. Students must sign a commitment to teach at a nonprofit Illinois public, private or parochial preschool, elementary or secondary school with at least 30 percent minority enrollment. A year of teaching for each year of scholarship is required.
If the teaching commitment is not fulfilled, students must repay a prorated amount, plus interest.
Illinois Future Teacher Corps (IFTC)
Students get up to $5,000 or $10,000 per year for payment of tuition, fees, room and board. The amount is determined by how long they committ to teach in Illinois.
If the teaching commitment is not fulfilled, students must repay a prorated amount, plus interest.
Child Welfare Student Loan Forgiveness Program
Students get up to $4,000 for undergraduate and up to $8,000 for graduate studies in social work. Students must commit to one year of work at the Illinois Department of Children and Family Services (DCFS) or a contracting agency, for each year of scholarship.
If the teaching commitment is not fulfilled, students must repay a prorated amount, plus interest.
There is no separate state loan program run by the Illinois Student Assistance Commission. Government student loans for Illinois students are federal student loans. If you need more funding and are looking for a private loan lender, check out credit unions.
Illinois also will forgive student loans under the Nurse Educator Loan Repayment Program and the Veterans’ Home Nurse Loan Repayment Program.
Illinois' federally-backed student loan consolidation program, unILoan, as well as the pilot alternative loan, College Illinois! Capstone Loan are no longer funded.
The main college grant overseen by the Illinois Student Assistance Commission is the:
May 15 was the cutoff for MAP grants last year. When the program runs out of funds, it is suspended.
The state of Illinois will be implementing a new law, the Illinois Dream Act which would help Illinois immigrants with college funding. Although only private money will be used to finance these initiatives, this is a state program- overseen by a volunteer Illinois DREAM Commission (rather than the Illinois Student Assistance Commission). It establishes:
a privately financed Illinois DREAM Fund to give college scholarships to undocumented students
new training requirements for high school guidance counselors and college admissions personnel so that they can identify opportunities for these students
access for undocumented students to participate in the State Treasurer’s College Savings Pool and the Illinois Prepaid Tuition Plan, two Illinois college savings plans
The Illinois Student Assistance Commission is experiencing funding cuts for many of the programs it oversees. Most of the available education funds have been shifted to the Monetary Award Program (MAP).
The Illinois Student Assistance Commission is experiencing funding cuts for many of the programs it oversees. Most of the available education funds have been shifted to the Monetary Award Program (MAP).
