Welcome to the first edition of the IDAPP Counselor. This quarterly e-newsletter delivers timely and useful information about the student loan industry. If you’re a student, parent or a student loan officer at a school or financial institution, this e-newsletter is designed for you.

As one of the country’s leading experts in the student loan industry, The Illinois Designated Account Purchase Program (IDAPP) prides itself on offering objective information about your student loan options. Our goal is simple – IDAPP helps people gain access to higher education by lowering the costs of borrowing. As a leading source of educational financing, IDAPP provides innovative programs and approaches that inform, educate and enable borrowers throughout Illinois and the country.

Founded in 1977, IDAPP was created as a key division of the Illinois Student Assistance Commission. Our mission is to provide Illinois students with access to educational loan capital. Specifically, IDAPP purchases educational loans from Illinois lenders to provide the liquidity for the lenders and to encourage market stability and access to educational credit.

As the educational finance industry became more competitive, IDAPP expanded operations to provide expert loan origination, loan servicing and superior customer service. Today, IDAPP is nationally recognized as a leader in the educational finance industry. Student loans are our only business. When you work with us, you’re working with experts. IDAPP is proud to be a member of state, regional and national financial aid associations and is a member of the Better Business Bureau.

Did you know that there is a Web site with all kinds of useful information to help you with financial aid information? It’s called collegezone.com. Whether you’re a student, parent or ISAC business partner, at College Zone you’ll find information just for you.

Launched in 2003, College Zone is Illinois' premier source for financial aid information located on the Web. Its mission is to guide students and parents through the process of planning, applying and paying for a college education. Students, parents, high school guidance counselors, college admissions counselors and financial aid administrators can all benefit from this vital resource.

Get in the know. Log onto College Zone today and sign up for the free e-messaging service. You’ll receive all the latest news about financial aid and college planning delivered directly to your e-mail address.

While on the College Zone Web site you can also download publications and forms, order print materials, utilize helpful online calculators and enjoy other features to assist you with college financial planning.

"Student Loan Consolidation" is a hot topic on campus. If
you take the time to look through the hype, there are a
number of benefits. When you consolidate your student loan with IDAPP, you enjoy many benefits and advantages like lower monthly payments, automatic payments and the IDAPP borrower benefits program.

The unILoan Program at IDAPP, a Federal Consolidation Loan Program, makes everything easy. Enjoy the conveniences of one loan and one payment. IDAPP has a terrific repayment program that provides an interest rate reduction for timely payment. Here’s how it works. Pay 36 consecutive on-time monthly payments and IDAPP will reduce your interest rate by 1.00%. IDAPP sweetens the deal by offering an additional .25% if you pay your loan through the IDAPP automatic payment program. These benefits take effect on July 1, 2004 for all Federal Consolidation Loans.

To find out more about the unILoan Program, if you’re eligible for consolidating, or to download an application,
click here.

You can also speak with a Loan Consolidation Expert at
(800) 366-5755, or send an e-mail to 1loan@isac.org.

"…As I was struggling to make my student loan payments, I discussed my options with the loan consolidation department at IDAPP. After consolidating all of my Federal Loans and even my Illinois Opportunity Loan, I now can qualify for a home mortgage. My payments were reduced to a manageable amount and now I have only one place to pay. IDAPP simplified the process and their Web site helped me determine my payment options. Loan consolidation made my life easier and helped me balance my debt. Now I see a bright financial future. Thank you IDAPP!"

–D.L., Chicago, Illinois

Paying for a college education has never been more of a challenge than it is today. Due to the ever-increasing costs of tuition, a college education is projected to get even more expensive. Fortunately, students seeking financial assistance now have options. The U.S Department of Education offers a wide variety of student financial aid programs that can help students pay for their education. To learn more about these programs and how to apply, check out the following link: Free Application for Federal Student Aid (FAFSA).

click here

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Check out U.S. News & World Report online to see how your school stacks up against the competition.

• Illinois has 407 colleges, community colleges, universities and institutions of higher learning.
  Source: collegesearchinfo.com
  
  
• In the state of Illinois, 26.1% of residents hold a college degree or higher.
  Source: illinois.gov
  
  
• The day a child is born, they will enter college in approximately 6,700
  days.
  
  
• College enrollment has reached an all-time high. In the past eight years, the number of Americans attending college has increased from 14.3 million to 15.3 million. By 2012, enrollment is projected to increase another 15% to 17.7 million.
  Source: rspfunding.com
  
  
• There is more financial aid available than ever before – over $105 billion.
  Source: collegeboard.com
  
  
• The average college tuition and fees in 2003-2004 for a four-year private college is $19,710 (up 6% from last year). The average college tuition and fees for a four-year public college is $4,694 (up 14.1% from last year).
  Source: collegeboard.com

If you’re interested in learning more about the student loan industry, or you’re just looking for some cool Web sites dealing with current events, sports, entertainment and travel, check out our links page.