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Illinois Teachers and Child Care Providers Loan Repayment Program
CSFA Number: 691-00-1385
Agency Name
Illinois Student Assistance Commission (691)
Agency Identification
0005
Agency Contact
Scott taylor
217-782-0503
scott.taylor@illinois.gov
Short Description
The Illinois Teachers and Child Care Providers Loan Repayment Program encourages academically talented Illinois students to enter into and continue teaching in Illinois schools in low-income areas and to enter the early child care profession and serve low-income areas in Illinois.
Federal Authorization
N/A
Illinois Statue Authorization
110 ILCS 947/65.56 and 20(f)
Illinois Administrative Rules Authorization
23 ILLINOIS ADMINISTRATIVE CODE CH. XIX, SEC. 2767
Objective
This program encourages academically talented Illinois students to enter into and continue teaching in Illinois schools in low-income areas and to enter the early child care profession and serve low-income areas in Illinois.
Prime Recipient
Yes
UGA Program Terms
N/A
Eligible Applicants
Individuals;
Applicant Eligibility
A qualified applicant shall be: a) a United States citizen or eligible noncitizen; b) a resident of Illinois; c) a borrower who has had an amount of his or her educational loans forgiven pursuant to Section 428J or 428K of the Higher Education Act of 1965, as amended (HEA); and d) a borrower who has fulfilled the obligations set forth in Section 428J or 428K of the HEA in Illinois. [110 ILCS 947/65.56]
Beneficiary Eligibility
Individuals
Types of Assistance
Direct Payments for Specific Use
Subject / Service Area
Education
Credentials / Documentation
N/A
Preapplication Coordination
N/A
Application Procedures
N/A
Criteria Selecting Proposals
N/A
Award Procedures
N/A
Deadlines
N/A
Range of Approval or Disapproval Time
N/A
Appeals
N/A
Renewals
N/A
Formula Matching Requirements
N/A
Uses and Restrictions
This program helps teachers who have served in low-income schools to repay their student loans. Through the Illinois Teacher and Child Care Provider Loan Repayment Program, teachers who qualify for the federal Stafford Loan Cancellation for Teachers Program by teaching in an Illinois low-income school can receive an additional grant from Illinois, equal to the amount forgiven by the federal government, of up to $5,000. (The total cannot exceed the amount of the teacher's outstanding loans.)
Reports
N/A
Audits
N/A
Records
N/A
Account Identification
N/A
Obligations
N/A
Range and Average of Financial Assistance
up to $5,000
Program Accomplishments
The Illinois Teachers and Child Care Providers Loan Repayment Program encourages academically talented Illinois students to enter into and continue teaching in Illinois schools in low-income areas and to enter the early child care profession and serve low-income areas in Illinois.
Regulations, Guidelines, and Literature
The Teacher's Loan Repayment Program is exempt from the Uniform Guidance (2 CFR 200) and the Grant Accountability and Transparency Act (30 ILCS 708) because loans are repaid on behalf of an individual beneficiary.
Regional or Local Assistance Location
N/A
Headquarters Office
1755 Lake Cook Road Deerfield, IL 60015-5209
Program Website
https://www.isac.org/
Example Projects
N/A
Published Date
12/27/2021
Funding By Fiscal Year
FY 2015 : $488,800
FY 2017 : $485,000
FY 2018 : $439,900
FY 2019 : $439,900
FY 2020 : $439,900
FY 2021 : $439,900
FY 2022 : $439,900
Federal Funding
None
Notice of Funding Opportunities
Agency IDAward RangeApplication Range
None