NEWS
For Immediate Release
February 18, 2009
Nearly $2 million in low-interest loans awarded to schools for technology upgrades
17 Districts serving more than 11,000 students utilize 2% loans to improve student access to technology
SPRINGFIELD – The Illinois State Board of Education (ISBE) announced today more than $1.8 million in technology loans are being awarded to help districts integrate technology into their curriculums. Seventeen school districts across Illinois will receive a loan through the School Technology Revolving Loan Program (STRLP) with awards ranging from $25,000 to $412,000.
The loans will serve more than 11,000 high school students in 17 participating districts.
“Providing these low interest loans is one way to help districts that want to improve their use of technology,’’ said State Superintendent Christopher A. Koch. “We know such integration supports improved teaching and learning and increased mastery of the Illinois Learning Standards.”
Since the creation of the School Technology Revolving Loan Program in fiscal year 1999, more than $72 million has been loaned to 283 eligible school districts. Each three-year loan comes with a two percent interest rate.
The loans have alternated between serving elementary and high school grades. Loan amounts are determined based on student enrollment and each district’s request.
In the past, school districts have used STRLP loans to purchase new technology, provide professional development opportunities, upgrade electrical equipment and capabilities.
Districts in the School Technology Revolving Loan Program in Fiscal Year 2009:
| Elmhurst Community Unit School District 205 | $412,300 |
| Sycamore Community Unit School District 427 | $198,100 |
| Ridgewood High School District 234 | $165,100 |
| Waterloo Community Unit School District 5 | $161,500 |
| Salem Community High School 600 | $152,200 |
| Woodstock Community Unit School District 200 | $150,000 |
| Fieldcrest Community Unit School District 6 | $80,800 |
| Forrestville Valley School District 221 | $76,000 |
| Meridian Community Unit School District 15 | $74,950 |
| Deer Creek Mackinaw CUSD 701 | $71,950 |
| Hinckley Big Rock Community Unit School District 429 | $65,800 |
| Princeville Community Unit School District 326 | $55,900 |
| Pawnee Community Unit School District 11 | $55,900 |
| Elmwood Community Unit School District 322 | $55,300 |
| Flanagan-Cornell Unit 74 | $49,900 |
| Milford Township High School District 233 | $48,600 |
| Scott Morgan Community Unit School District 2 | $25,000 |
