ISAC Praises Governor’s Support Of Monetary Award Program

Friday, February 18, 2011 Increased funding proposed for state’s flagship need-based financial aid program

CHICAGO – The Illinois Student Assistance Commission’s executive director commended Governor Pat Quinn for his budget proposal that included an additional $25 million investment in the state’s Monetary Award Program (MAP).

“The Governor's recognition of the Monetary Award Program as worthy of a funding increase is further evidence of its importance as the state's flagship financial assistance program helping students in need. MAP is a mission-critical program for the state's economic future,” said Andrew Davis, executive director of the Illinois Student Assistance Commission, the agency that administers the more-than-$400 million program.

“Increased funding to help more students attend community colleges is another step in attaining ISAC's Big Goal of increasing the proportion of Illinois adults with a postsecondary credential to 60 percent by 2025,” Davis continued. “We eagerly look forward to working with members of the General Assembly and the higher education community to make this increase a reality.”

Approximately 130,000 Illinois students received MAP grants for the 2010-11 academic year, yet, due to increased demand and limited resources, more than 140,000 eligible students did not receive aid.  Students and families are encouraged to complete the 2011-12 FAFSA as soon as possible.

A state agency, ISAC provides educational funding via numerous programs such as the Monetary Award Program (MAP), the Illinois Veteran Grant and College Illinois!® Prepaid Tuition Program in addition to outreach to underserved populations through the College Illinois! Corps. Students and families have free access to a wealth of financial aid and college planning information at ISAC’s family of websites available at www.isac.org/ and www.529prepaidtuition.org/.