ISAC Offers Guidance on How to Pay for College During Money Smart Week

Commission provides eight workshops to help make college affordable

CHICAGO— Who says college money doesn’t come with instructions? The Illinois Student Assistance Commission (ISAC) is joining other not-for-profits, financial institutions, schools and libraries to promote financial literacy during Chicago’s eighth annual Money Smart Week.

The Commission will provide seven hour-long workshops dealing with the topic of paying for college
April 16-25, 2009, in addition to a seminar on College Illinois!SM, the smart, secure way to pay for college.

"We believe education is the key to creating a new generation of financially independent adults who are better able to provide opportunities for their children," said ISAC Executive Director Andrew Davis. "Our participation in Money Smart Week provides this multi-generational payoff and contributes towards our mission of making college affordable and accessible for Illinois students."

The Paying for College workshops, conducted by Russell Goeltenbodt, provide knowledge students and parents need to know relative to the full cost of college, payment responsibilities, the Free Application for Federal Student Aid (FAFSA), grants vs. loans, scholarships and loan alternatives vital to pursuing a college degree in the current economic climate.

The hour-long College Illinois! seminar on April 22 is conducted by Amy Schoeneman. College Illinois! is the state’s only 529 Prepaid College Tuition Program. The plan offers peace of mind, safety and security not found elsewhere. The current enrollment period for College Illinois! ends April 30.

A schedule of ISAC presentations is listed below:

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Specialist
Paying for College
Chicago Public Library Austin Branch
5724 W. North Avenue
7:00-8:00 p.m.

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Specialist
Paying for College
Evanston Public Library
1703 Orrington Ave.
2:00-3:30 p.m.

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Specialist
Ercilia Miranda-Jonas, ISAC Parent Outreach Coordinator
Paying for College (English/Spanish)
Chicago Public Library Brighton Park Branch
4314 S. Archer Ave.
7:00-8:00 p.m.

Amy Schoeneman, ISAC/College Illinois Manager of Sales & Marketing
College Illinois! The Smart, Secure Way to Save for College
Federal Reserve Bank of Chicago
230 S. LaSalle Street
12:00PM - 1:00 p.m.

Abel Montoya, ISAC Assistant Director for Outreach Operations
Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Spec.
Paying for College
Economic Awareness Council
Washington Park
5531 S. Martin Luther King Drive
3:30-6:00 p.m.

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Spec.
Paying for College
Chicago Public Library Lincoln Belmont Branch
1659 W. W. Melrose St.
7:00-8:00 p.m.

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Spec.
Monica Czyz, ISAC Early Awareness Coordinator
Paying for College (English/Polish)
Chicago Public Library Clearing Branch
6423 W. 63rd Place
7:00-8:00 p.m.

Russ Goeltenbodt, ISAC Student Advocate/Financial Literacy Specialist
Paying for College
Skokie Public Library
5215 Oakton
4:30-5:30 p.m.

The Illinois Student Assistance Commission provides students of all ages and backgrounds with the resources and support to obtain financial aid for higher education. A state agency, ISAC has paved the path to post-secondary education with innovative programs for more than 50 years. Last year alone, ISAC continued its mission to make college affordable and accessible for Illinois students by issuing over 186,000 grants and scholarships totaling nearly $431 million.

The Commission provides educational funding with student loans, as a loan guarantor and via numerous public programs such as the successful Monetary Award Program (MAP), the Illinois Veteran Grant and College Illinois!SM the Commission’s groundbreaking 529 prepaid college tuition program. Students and families have free access to a wealth of financial aid and college planning information at ISAC’s family of websites available at www.knowhow2GOIllinois.org and www.collegeillinois.com.

For a complete listing of Money Smart Week Chicago events, visit www.moneysmartweek.org/Chicago. Money Smart Week is a registered service mark of the Federal Reserve Bank of Chicago. The Federal Reserve Bank of Chicago does not endorse or sponsor the Illinois Student Assistance Commission or any of its products or services.

About ISAC
The Illinois Student Assistance Commission is the State’s centralized provider of financial assistance aimed at helping students and families access postsecondary education and/or training. Each year, the Commission awards an estimated $400 million in scholarship and grant aid to nearly 185,000 qualified students, and also provides an additional $740 million to borrowers through its student loan programs. The agency offers credit-based alternative loans, a 529 prepaid tuition program known as College Illinois!, and a broad array of outreach and informational services to ensure that families have access to the information they need to pay for a college education. More information is available by calling toll-free 800.899.ISAC (4722) or visiting the agency’s Web site at www.collegezone.com.