Workforce Development through Charitable Loan Repayment Program

Illinois is launching a new initiative to support local workforce growth and talent retention.

The Workforce Development through Charitable Loan Repayment Program will allow Illinois community foundations to establish and administer locally funded student loan repayment and/or educational debt repayment programs. These programs are designed to help attract, support, and retain skilled workers within communities across the state.

Who Can Participate

Eligibility is open to qualified Illinois community foundations that are prepared to design and manage their own loan repayment and/or educational debt repayment programs.

To qualify, a community foundation must submit an application and supporting documents to the Illinois Student Assistance Commission (ISAC), including:

• Required: Community Foundation Program Application
  • Information on the foundation, its leadership and board, and program eligibility, including certifications demonstrating the foundation's substantial compliance with the Community Foundations National Standards.
• Required: Supporting Documents
  • Item 1: copy of foundation’s 501(c)(3) IRS determination letter, demonstrating that the foundation meets the qualifications under Section 170(b)(1)(A)(vi) of the Internal Revenue Code
  • Item 2: copy of Community Foundations National Standards accreditation seal or copy of submitted application*
  • Item 3: list of all the names and addresses of all members of the governing board of the community foundation
  • Item 4: copy of the foundation’s most recent financial audit of accounts and records records conducted by an independent certified public accountant in accordance with auditing standards generally accepted in the United States, government auditing standards
  • In lieu of items 1-4, a community foundation may provide documentation demonstrating that it has been determined eligible to participate in tax incentive programs administered by another Illinois State agency.
• Optional: Supplementary Application Questions – While not required for approval, prospective community foundation partners are encouraged to complete these additional questions to support future reporting.

* Legislation under consideration during the Spring 2026 session of the Illinois General Assembly would require participating community foundations to provide evidence of accreditation through the Community Foundations National Standards program. If passed, this would become effective July 1, 2026. If your community foundation currently has this seal of accreditation, we encourage you to submit it with your application. If your community foundation does not have this seal, please take this into consideration when applying for participation in this program.

How to Apply

Community foundations will apply through the Illinois Student Assistance Commission (ISAC) using a secure File Transfer Protocol (FTP) portal. Community foundation staff will be invited to create an account to use this portal, and details will be provided by ISAC in a welcome email.

ISAC FTP secure portal: https://transfer.isac.org/

User Guide

The Workforce Development through Charitable Loan Repayment Program User Guide, which provides details on how to upload documents to ISAC, is available to view online, print, or save to your computer for future reference.

Program Processes

1. Community foundations must submit all required materials through the ISAC FTP portal. Applications are received and reviewed on a rolling basis.
2. ISAC will review applications and notify foundations of approval or denial.
3. Approved foundations will independently design, fund, and administer their programs.
4. At the end of each fiscal year, foundations must submit a report detailing program activities and funds disbursed, along with a statement noting any changes to the required documents submitted during the application process.
5. ISAC will review annual reports and any updated documents to determine continued eligibility.

Dates & Timelines

• Program Opens: June 1
• Application Review Begins: July 2026

Materials & Resources

• Loan Repayment Programs Best Practices Toolkit: FY26 Resource for Community Foundations
• Workforce Development through Charitable Loan Repayment Program Presentation

Coming Soon

Workforce Development through Charitable Loan Repayment Program Webinar
Hosted by: Alliance of Community Foundations and ISAC
Date and Time: Wednesday, July 15, 2026 – 1:30-2:30 p.m.

For more information or questions about this program, please email ISAC's Partner Services team at [email protected].