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HE 006 521 TITLE Illinois State Scholarship Commission Report DOCUMENT RESUME ED 107 173 HE 006 521 TITLE Illinois State Scholarship Commission Report. INSTITUTION Illinois State Scholarship Commission, Deerfield. PUS DATE Apr 75 NOTE 83p. EDRS PRICE MF-$0.76 HC-$4.43 PLUS POSTAGE DESCRIPTORS *Educational Finance; Educational Opportunities; *Federal Aid; *Higher Education; Post Secondary Education; Scholarship Loans; *State Aid; *Student Loan Programs IDENTIFIERS *Illinois ABSTRACT This is the report of the Illinois State Scholarship Commission, a governor-appointed body of seven persons, responsible for the administration of nine state authorized and funded aid programs for Illinois postsecondary students. The aid programs of the ISSC, combined with institutional and Federal aid and with the funds expected from parents and the applicant, meet the college costs of the institution of the applicant's choice. The major programs consist of (1) nonrepayable monetary awards and (2) guaranteed educational loans. Among the purposes of the commission programs are to: (1) equalize educational opportunity by removing financial barriers to college; (2) preserve diversity in postsecondary education by permitting freedom of institutional choice;(3) increase the retention of students in postsecondary educational institutions; (4) conserve public funds by making it possible for financially needy students to utilize any otherwise unused spaces at Illinois nonpublic colleges; (5) permit a student's in-school employment workload and/or loans to be at a sufficiently modest level so as not to adversely affect his studies or career plans;(6) combine institutional and federal aid with the funds expected from parents and the applicant to meet the college costs of the institution of the applicant's choice. The text includes tables and sta-dstical data. (Author/KE) '4* 'ar,t ,r. v 1,It*" '" "10,-,,, . 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The aid programs of the ISSC, combined with institutional and federal aid and with the funds expected from parents and the applicant, meet the college costs of the institution of the applicant's choice. The major programs consist of (1) nonrepayable monetary awards and (2) guaranteed educational loans. Among the purpose., of the Commission proyrams.are to o Equalize educational-oppor-tuatemovIng-f inaliciaLbariiers_t o college Preserve diversity in postsecondary education by permitting freedom of institutional choice Increase the retention of students in postsecondary educational institutions - Conserve public funds by making it possible for financially needy students to utilize any otherwise unused spaces at Illinois non-public colleges Permit a student's in-school employment workload' and/or loans to be at a sufficiently modest level so as not to adversely affect his studies or career plans Combine with institutional and federal aid with the funds expected from parentkand the applicant to meet the college costs of the institution of the applicant's choice The Monetary Award Program provides non-repayable assistance to financially needy students; neither test scores nor high school records are assessed as a necessary condition to apply for funds. Monetary award winners must be Illinois residents demonstrating financial need and be planning to pursue at least 6 hours of undergraduate study at more than 200 approved public or non-public colteges.and universities, hospital schools of nursing or allied health programs located inI-llinois.Financial needis determined by a standardized need assessment based upon a comprehensive review of the family financial strength and the specific cost of attending the approved Illinois educational institution of the applicant's choice. Students atarying levels of academic ability can participate in the program provided they can successfully enter and continue to progress satisfactorily through a collegiate level of study. The Illinois State Scholar Program publicly, with notification to tne media, schools, and members of the Legislature, and individually, with a personaf Certificate of Merit, identifies those high school seniors who possess superior academic potential as measured by their test scores and high school records. The State Scholar designation is an honorary recognition only, financial need is not d requirement, nor are State Scholars automatically entitled to a monetary award. To be eligible for financial assistance, a State Scholar must submit an application to the Monetary Award Program and demonstrate financial need. The Illinois Guaranteed Loan, Program guarantees loans for educational expenses made to postsecondary students by Illinois private banks, savings and loan associations, and credit unions. The IGLP is responsible for verifying the eligibility of an applicant for the loan guarantee, processing requests for default payments from lenders, and collecting loan payments under new agreements from those students who were earlier unable to meet their original agreement with lenders. The Commission reimburses the lender for the full principal amount and interest on a loanif the borrower dies, becomes disabled, or fails to meet contract obligations. Federal funds assume a large percentage of the financial responsibility for the payment of all defaulted loans and the cost of interest subsidy for those students qualifying for such benefits. Loans are guaranteed to residents of Illinois who are at least halftime undergraduates and graduates at collegiate and vocational institutions throughout the United States and some foreign countries. ,In addition, toe CO3-,mission administers the following other programs: benefits for dependents of Illinois residents who are prisoners of war or are missing in action, grants for children of Illinois policemen, firemen and correctional officers killed inline of duty, grants for bilingual students and teachers, and matching grants to public senior universities at which a scholarship fund has been established from voluntary contributions by students. Payments for veterans enrolled at public community coreyes are also an ISSC responsibility. = 4- TABLE OF CONTENTS ISSC Commission Members, Administrative Staff, Location inside front cover Introduction Table of Contents ii Appropriation History 1 ISSC Organization 2 Advisory Committees 3 Institutional Representatives 5 Monetary Award Program, 1974-75 Academic Year 7 Capsule History of Monetary Awards by Type Institution 8 Monetary Awards by Institution 11 1972-73, 1973.74, 1974-75 (Best Estimates), and 1958-59 to 1973-74 An Analysis by ISSC Approved Institution Relating to 1974-75 Enrollment, 23 - College Costs, and ISSC Monetary Awards Higher Education Student Assistance Law (quotation from) 26 Historical Summary, Monetary Award Program, 1965-66 to 1974-75 Award Years 26 Characteristics by Institution andby Type Institution of 1974-75 Announced 27 Monetary Award Winners A Study of Nonpublic Tuition and Fees and ISSC Maximum Awards 1958-59 to 1974.75 31 Monetary Award Maximums 31 Percentages of Monetary Award Winners with Partial and Maximum Awards 31 Zip Code Map of Illinois 32 Zip Code Area Analysis1973-74 and 1974-75 Award Year Applicants for Monetary Awards 33 Racial Background of Monetary Award Applicants 35 Analysis by Racial Background (1974-75 Award Year Announced and Enrolled Monetary Award Winners) 35 Distribution by Age of Enrolled Monetary Award Winners 36 Distribution by Age of Monetary Award Program Applicants 36 Class Standing of all 1974.75 Enrolled Monetary Award Winners by Type Institution 37 Financial Need Analysis 38 Fundamental Essentials of Need Analysis Formula 39 Mean Total Parental Income and Asset Equity Analysis by Institution 41 5 Parental/Applicant Income Ranges, 1974.75 Announced Winners and Applicants 45 Class Level Percentages of Applicants. Announced Monetary Award Winners, and No Need Cases 46 Undergraduate Fulltime Equivalent Enrollment in ISSC Approved Illinois Colleges 46 and Universities 1971.72 to 1974.75 Unmet Costs for Announced Monetary Award Winners 46 _ _Announced- Award Winners' Mean Unmet Costs by Type institution 46 A Study of Parental and Student Characteristics Relating to Financial Need 46 1973.74 Military Veterans'
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