Illinois Student Assistance Commission

The Illinois Student Assistance Commission (ISAC) is committed to making postsecondary education accessible and affordable for Illinois students. Its strategic direction is centered on a 'Big Goal' to increase the proportion of Illinois adults with a postsecondary credential to 60% by 2025, with a specific focus on increasing the postsecondary completion rate of low-income students to at least 45%. The plan outlines key approaches including improving the high school to college transition, providing support to students in college or returning to college, helping families pay for college through various programs, building external support for the goal, and providing high-quality, informed research to support decision-making.

This document provides an overview of the Illinois Monetary Award Program (MAP), a financial aid initiative in operation for nearly 60 years. It details MAP's history, its role in providing need-based grants to eligible low-income Illinoisans, and its significant impact on college access, persistence, and graduation rates, particularly for Black, Hispanic, and first-generation students. The program has achieved historic funding increases, enabling over 150,000 students annually to pursue higher education. The document also addresses ongoing challenges related to meeting increasing demand and maintaining the program's purchasing power against rising tuition costs.

The Illinois Student Assistance Commission (ISAC) outlines its commitment to ensuring postsecondary education access and affordability for all Illinois students. The document details key strategies, including direct assistance to students and families through the ISACorps, provision of free online resources, professional development for educators, and cultivation of external partnerships. It highlights initiatives focused on financial aid application completion and leveraging the ISAC Student Portal, aiming to empower students, particularly those from underserved backgrounds, to achieve their education and career goals.

The meeting addressed the establishment of a quorum, announcements including the reappointment of members, and approval of tentative meeting dates for the upcoming year. Discussions covered the approval of minutes from a prior meeting, a review of the panel's duties and responsibilities, and a program update highlighting the plan's overfunded status. An investment update was presented, detailing fund performance, asset class highlights, and asset allocation, alongside a compliance review ensuring adherence to investment policies.

The Illinois PaCE (Post-secondary and Career Expectations) overview outlines the background, adoption, customization, and implementation process of the PaCE framework within Illinois schools and districts. It details the establishment of an advisory committee in 2015, the passage of the Post-secondary and Workforce Readiness Act in 2016, and the collaborative efforts of ISAC, ISBE, ICCB, and IBHE to ensure college and career readiness among high school students. The framework, starting in eighth grade and extending through twelfth grade, focuses on financial aid and literacy, career exploration and development, and post-secondary education exploration, preparation, and selection. The presentation also covers available resources and support options from ISAC to assist schools in implementing the PaCE framework.