Illinois Teachers Loan Repayment Program
The number of awards made through this program, as well as the individual dollar amount awarded, are subject to sufficient annual appropriations by the Illinois General Assembly and the Governor.
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The Illinois Teachers Loan Repayment Program provides awards to encourage academically talented Illinois students to teach in Illinois schools in low-income areas. A listing of Illinois schools in low-income areas is provided at the U.S. Department of Education’s Teacher Cancellation Low Income Directory. If these obligations are met by a Federal Stafford loan borrower who has qualified for the federal government’s loan forgiveness programs, Illinois may provide an additional matching award of up to $5000 to the qualifying teacher to repay their student loan debt.
Although the Illinois program was initially available also to child care providers, the federal Child Care Provider Loan Forgiveness Program received no funding beyond the demonstration program, and does not accept applications. Consequently, there is no application for the Illinois Child Care Providers Program.
To be eligible, you must:
- Be a U.S. citizen or an eligible non-citizen
- Be an Illinois resident
- Be a borrower who has had an amount of your educational loans forgiven under the federal government’s loan forgiveness programs
- Have a balance remaining on your eligible student loan(s)
- Have fulfilled your five-year teaching obligation in an Illinois elementary or secondary school designated as a low-income school or have worked full time for 2 consecutive years in a child care facility that serves a low-income area in Illinois.
To apply, you must obtain a current Illinois Teachers Loan Repayment Application. You may download and print an application here. You must submit the application, along with ann required documentation, to ISAC’s Deerfield office as indicated on the application. 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. 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.
The total amount of awards each year is contingent on the final approved appropriation. If funding is insufficient to pay all eligible applicants, awarding is based on the date the complete application, with required documentation, is received in ISAC’s Deerfield office.
Note that ISAC routinely updates this section as new information becomes available. Be sure to check back periodically for the current processing status.
For the 2015 Fiscal Year
(last updated on July 17, 2014):
ISAC is currently accepting Illinois Teachers Loan Repayment Program applications for the 2015 fiscal year (July 1, 2014 – June 30, 2015).
Allow at least four weeks for the processing of the application, at which time you will be notified by ISAC regarding your eligibility status. 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.