ISAC Student PortalISAC Completes Workforce Reduction
Tuesday, June 01, 2010
‘Final phase’ of three-year makeover to be completed by end of month
CHICAGO—The Illinois Student Assistance Commission (ISAC) announced a reduction in workforce resulting from continuing reorganization of the agency in an effort to make the agency more agile, effective and efficient. Employee notifications will take place over a two-week period beginning June 1.
“This reduction – the final part of an ongoing administrative-efficiency initiative at ISAC -— will help the agency create a more efficient, agile infrastructure while also providing the resources required to invest in new opportunities,” said ISAC Executive Director Andrew Davis.
The moves are another facet of an organizational makeover undertaken over the past three years. This continuing evolution will have eliminated approximately 210 filled and vacant positions, sold approximately $3 billion in predominantly out-of-state student loans, and paid down approximately $3.3 billion in debt since 2007.
The reorganization was first announced in summer, 2007, and the 44-person layoff is the third and final phase in restructuring and consolidating student loan origination and servicing operations from the Illinois Designated Account Purchasing Program (IDAPP) to a single third party entity.
“We remain committed to serving our higher education partners and Illinois students and families at a high level,” Davis continued, indicating the Commission will continue to focus on five core areas of operations: research, planning and policy analysis; program services (scholarships and grants administration); college access and outreach; the College Illinois!® 529 Prepaid Tuition Program; and student lending.
After the reduction, the Illinois Student Assistance Commission will employ 290 people at offices in Chicago, Deerfield and Springfield. It provides students of all ages and backgrounds with the resources and support to obtain financial aid for higher education in support of its mission to make college both accessible and affordable for all Illinois students.
“ISAC is committed to making college accessible and affordable for Illinois students—especially those at the lowest quintile in terms of income. The changes we are making will allow us to best deliver our resources to the students and families that need them most in an efficient manner,” concluded Davis.
The Illinois Student Assistance Commission provides students of all ages and backgrounds with the resources and support to obtain financial aid for higher education. A state agency, ISAC has paved the path to post-secondary education with innovative programs for over 50 years. The commission continued its mission to make college accessible and affordable for Illinois students by administering over 183,000 grants and scholarships totaling over $430 million in FY2009 alone.
The Commission provides educational funding with student loans and via numerous programs such as the Monetary Award Program (MAP), the Illinois Veteran Grant and College Illinois!® 529 Prepaid Tuition Program. Students and families have free access to a wealth of financial aid and college planning information at ISAC’s family of Web sites available at www.knowhow2goillinois.org/.
Contact
Illinois Student Assistance Commission (ISAC)
100 W. Randolph Street, Ste. 3-200
Chicago, IL 60601
312.814.3679
