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Illinois State Scholarship Commission Report. Illinois State Scholatship

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Illinois State Scholarship Commission Report. Illinois State Scholatship DOCUMENT RESUME ED 089 636 HE 005 388 TITLE Illinois State Scholarship Commission Report. INSTITUTION Illinois State Scholatship Commission, Deerfield. PUB DATE Apr 74 NOTE 80p. EDRS PRICE MF-$0.75 HC-$4.20 PLUS POSTAGE DESCRIPTORS Colleges; Community Colleges; *Educational Finance; Financial Policy; *Grants; *Higher Education; *Scholarships; *State Aid; Universities; Veterans Education IDENTIFIERS *Illinois ABSTRACT The Illinois State Scholarship Commission (ISSC) is responsible for the administration of 9 state authorized and funded financial aid programs for Illinois postsecondary students. The major programs consist of:(1) nonrepayable monetary awards, and (2) guaranteed educational loans. The purposes of the Commission's programs are to:(1) equalize educational opportunity;(2) preserve diversity in higher education by permitting freedom of institutional choice;(3) conserve public funds by making it possible for needy students to utilize unused spaces at Illinois nonpublic colleges; (4) permit a student's in-school employment or loans to be at a modest level so as to not affect his studies or career plan;(5) combine with institutional and federal aid and parents funds to meet the college costs of the institution of the applicant's choice. The Monetary Award Program provides nonrepayable aid to needy students; neither test scores nor records are assessed when application is made. The Illinois State Scholarship Program identifies high school seniors with superior ability; and the Illinois Guaranteed Loan Program guarantees Moans made for educational expenses. This document also presents statistical tables concerning the Commission's cther programs: grants for children of Illinois prisoners of war, scholarships for bilingual students, and payments for veterans at public community colleges. (Author/PG) co ILLINOIS .,AREVENT CF HEALTH JVCAT ,ON 6 WELFARE NATIONAL INSTITUTE Of EDUCATION E ,P,0 STATE E I.1 SCHOLARSHIP COMMISSION APRIL,1974 REPORT jt\% ILLINOIS STATE SCHOLARSHIP COMMISSION MEMBERS William E. McManus Harold Liston Chicago Normal Since 1957 Since 1969 Mrs. L. Goebel Patton Mrs. Ray Polhill West Frankfort Milledgeville Since 1962 Since 1970 E. Erie Jones Robert 6. Douglas Palatine Kankakee Since 1967 Since 1972 ADMINISTRATIVE STAFF Joseph D. Boyd, Executive Director James A. Eanes, Administrative Director, Scholarships and Grants Byron Himelick, Assistant Director, Scholarships and Grants Mrs. Elizabeth N. Fish, Assistant to the Director, Scholarships and Grants Mrs. Carol Wennerdahl, Administrative Director, Loan Program Richard Wedemeyer, Assistant Director, Loan Program James Gabler, Assistant to the Director, Loan Program Steve Skott, Collections Manager, Loan Program Ralph J. Godzicki, Administrative Director, Agency Operations Richard X. Nelli, Agency Auditor Ivan D. Williams, Coordinator, Data Processing Mrs. Florence Schallitz, Coordinator, Business Activities? Mrs. Phyllis B. Rich, Personnel Manager William J. Hilton, Administrative Director, Office of Informational Services Mrs. Rosa Ramirez, Coordinator of Community Services Robert V. Padjen, Coordinator of School and College Relations LOCATION Executive/Program/Operations Office of Informational Services Tollway North Office Center (Audiovisual Resources Center) 102 Wimot Road 203 North Wabash Avenue Deerfield, Illinois 60015 Suite 1600 312/945-1500 Chicago, Illinois 60601 312/793.3745 Scholahhik and Grant Division, Guaranteed Loan Program P. O. Box 607 P. 0. Box 33 Deerfield, Illinois' 60015 Deerfield, Illinois 60015 312/945-1600 312/945-7040 Printed By Authority STATE OF ILLINOIS April, 1974 5M INTRODUCTION The Illinois State Scholarship Commission, a Governor appointed body of seven persons, is responsible for the administration of nine state authorized and funded financial 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 Equalize educational opportunity by removing financial barriers to college Preserve diversity in postsecondary education by permitting freedom of institutional choice 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 inschool 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 parents and 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 full-time undergraduate study at more than 180 approved public or non-public colleges and universities, hospital schools of nursing or allied health programs locatedinIllinois.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 at varying 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 and, with a personal 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 a 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 state residents 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 loan if 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 qualifyingfor such benefits.Effective March1, 197, eligibility for an interest subsidized loan is related to an analysis of the family financial stregth. Loans are guaranteed to residents of Illinois who are full-time undergraduates and graduates at collegiate and vocational institutions throughout the United States and some foreign countries. Inaddition, the Commission administers the following other programs: benefits for dependents of Illinois residents who are prisoners of war or are musing in action, grants for children,of Illinois policemen, firemen and correctional officers killed in line of duty, scholarships 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 colleges are alsO an ISSC responsibility. TABLE OF CONTENTS ISSC Members, Administrative Staff, Location Inside Front Cover Introduction Table of Contents ii Appropriation History 1 Historical Table of Volume and Appropriation; 2 ISSC Organization 2 Advisory Committees 3 Institutional Representatives 5 Monetary Award Program, 1973.74 Academic Year 7 Capsule History of All Monetary Awards by Type Institution 8 Monetary Awards by Institution, 11 1971.72, 1972.73, 1973.74 (Best Estimates), and 1958.59 1973-74 An Analysis by Institution 22 (Relationship ofISSC Applicants and Enrolled Monetary Award Winners to Fall 1973 Full-time Equivalent Enrollments, Tuition & Fee Costs, College BudgetslMean Weighted 1974.75 Tuition and Mandatory Fees by Type Institution 25 A Study of Increases in College Costs A Study of Nonpublic Tuition. and Fees and ISSC Maximum Awards 26 Monetary Award Maximums 26 Percentages of Monetary Award Winners with Partial and Maximum Awards 26 Class Standing of All 1973.74 Enrolled Monetary Award Winners by Type Institution 27 Zip Code Areas of Illinois 28 Zip Code Area Analysis 1972.73 and 1973-74 Applicants 29 Historical Summary, Monetary Award Program 31 Quotation from Higher Education Student Assistance Law 31 Financial Need Analysis 32 Fundamental Essentials of Need Analysis Formula 33 Mean Total Parental Income and Asset Equity Analysis by Institution 35 Number and Percentage by Parental Income Ranges of All 1973.74 39 Monetary Award Applicants Named Monetary Award Winners Class Level of Applicants, Monetary Award Winners, No Need Cases 40 Fall Full-time Equivalent Enrollment of Undergraduates
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