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ISAC's Role
ISAC offers an array of low-interest education loan programs with reasonable and manageable repayment terms. Under the Federal Family Education Loan Program (FFELP), individuals can apply for subsidized and unsubsidized Federal Stafford Loans (for students), Federal PLUS Loans (for parents, graduate and professional students) and Federal Consolidation Loans.

As a guaranty agency, ISAC administers several educational loan programs, as part of the FFELP. A guarantor is a state or private nonprofit organization that has an agreement with the U.S. Secretary of Education (ED) to administer a loan guarantee program under the Higher Education Act. ISAC operates as a national guarantor, consistently ranking among the top 10 guaranty agencies in the country in total dollars guaranteed.

ISAC’s secondary market, the Illinois Designated Account Purchase Program (IDAPP), also supports access to higher education for students by originating, purchasing and servicing student loans.

© 2003-2009 Illinois Student Assistance Commission