Illinois Teachers Loan Repayment Program
Teachers Loan Repayment Program
CSFA Number: 691-00-1385
STATE AGENCY INFORMATION
Agency Name
Illinois Student Assistance Commission (691)
Agency Identification
0005
Agency Contact
PROGRAM INFORMATION
Short Description
The Illinois Teachers Loan Repayment Program encourages academically talented Illinois students to teach in Illinois schools in low-income areas.
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 serve low-income areas in Illinois.
Eligible Applicants
Individuals;
Applicant Eligibility
Direct to beneficiary (student) grant.
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 under the federal government's loan repayment programs;
d) has a balance remaining on eligible student loan(s);
e) have fulfilled the five-year teaching obligation in an Illinois elementary or secondary school designated as a low-income school; and
f) 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
Required documentation includes, but is not limited to, a copy of your completed federal Teacher Loan Forgiveness application and a copy of the letter indicating you have been approved for the federal program. See the application for a description of all required documentation.
Preapplication Coordination
N/A
Application Procedures
Complete the Illinois Teachers Loan Repayment Application (https://www.isac.org/students/during-college/documents/2425-ILTLRP-App.pdf)
Allow at least 4-6 weeks for the processing of the application, at which time you will be notified by ISAC regarding your eligibility status.
Criteria Selecting Proposals
The total amount of awards each year is contingent upon available funding. If funding in any given year is insufficient to pay all eligible applicants, awarding will be based on the date the complete application (with all required documentation) is received at ISAC’s Deerfield office.
Deadlines
The completed application (including all required corresponding documentation) must be submitted to ISAC within six (6) months of the date on the Notice of Federal Teacher Loan Forgiveness eligibility from the federal government.
Range of Approval or Disapproval Time
There is a minimum 4-5 week turnaround from the date approved recipients are notified by ISAC to when funds are disbursed. Depending on the volume of payment vouchers being processed by the State of Illinois Comptroller’s Office, this timeframe may increase. Proceeds will be remitted directly to the holder/servicer/lender of the loan(s) to be repaid.
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.)
Account Identification
N/A
Range and Average of Financial Assistance
Up to $5,000
Program Accomplishments
The Illinois Teachers Loan Repayment Program encourages academically talented Illinois students to enter into and continue teaching in Illinois schools in low-income areas and serve low-income areas in Illinois.
Regulations, Guidelines, and Literature
https://www.isac.org/e-library/documents/administrative-rules/2023-24-isac-rules/2767-TeacherChildCare.pdf
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/students/after-college/forgiveness-programs/illinois-teachers-and-child-care-providers-loan-repayment-program.html
Published Date
12/27/2021
FUNDING INFORMATION
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
FY 2023 : $439,900
FY 2024 : $975,000
FY 2025 : $975,000
Federal Funding
None
Notice of Funding Opportunities
| Agency ID | Award Range | Application Range |
ACTIVE AWARDS