Illinois Low Cost Borrower Benefit Program to Reduce Interest Rates on Student Loans
Illinois Governor Rod R. Blagojevich announced recently the "Low Cost Borrower Benefit Program" which will allow Illinois college students who receive federal Stafford loans to lower their interest rates by as much as 1.8%. The program, which will be administered by the Illinois Student Assistance Commission (ISAC), provides for discounted rates for students who take jobs in Illinois in critical fields like social work, teaching or health care.
You can get a .5% discount by accepting a job in Illinois. You can receive another .5% reduction if your pay is between $30,001 and $50,000. A 1% reduction is applied if the job pays $30,000 or less. You can save another .3% by enrolling in a dirct pay program where your monthly payments are made automatically from your bank account.
This first year there are six schools taking part in the pilot program.
Here are the latest updates on College Scholarships, Loans and Grants.
West Virginia Scholarships
College Loan News
Technorati Tags: College Loans Financial AidPaying for College Illinois LoansBlagojevich ISAC
Illinois Governor Rod R. Blagojevich announced recently the "Low Cost Borrower Benefit Program" which will allow Illinois college students who receive federal Stafford loans to lower their interest rates by as much as 1.8%. The program, which will be administered by the Illinois Student Assistance Commission (ISAC), provides for discounted rates for students who take jobs in Illinois in critical fields like social work, teaching or health care.
You can get a .5% discount by accepting a job in Illinois. You can receive another .5% reduction if your pay is between $30,001 and $50,000. A 1% reduction is applied if the job pays $30,000 or less. You can save another .3% by enrolling in a dirct pay program where your monthly payments are made automatically from your bank account.
This first year there are six schools taking part in the pilot program.
Here are the latest updates on College Scholarships, Loans and Grants.
West Virginia Scholarships
College Loan News
Technorati Tags: College Loans Financial AidPaying for College Illinois LoansBlagojevich ISAC
posted by Ken MacKenzie at
2:54 PM
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