News

For Immediate Release
November 8, 2012

Eleven districts selected for School Technology Revolving Loan Program


ISBE names local districts to benefit from low-interest loans to boost technology in schools; additional funds available

 

SPRINGFIELD — The Illinois State Board of Education today announced the selection of the first 11 school districts from across Illinois to receive more than $1.2 million from the School Technology Revolving Loan Program. The low-interest loans allow schools to use technology for classroom instruction and staff development.

“With today’s economic challenges, the State Board of Education is grateful to be able to offer these low-interest loans to school districts,” said State Board of Education Chairman Gery J. Chico. “Funds for technology in schools are especially important for students to succeed in today’s world. Our educators need the best tools available to help prepare students for college and careers.”

The districts receiving the loans and the amounts, which total $1,233,800, are:

Scott-Morgan Community Unit School District 2 in Bluffs
$35,500
Waterloo Community Unit School District 5 in Waterloo
$158,350
Woodstock Community Unit School District 200 in Woodstock
$250,000
Fieldcrest Community Unit School District 6 in Minonk
$81,850
Forrestville Valley School District 221 in Forreston
$64,300
Griggsville-Perry Community Unit School District 4 in Griggsville
$40,300
Meredosia-Chambersburg Community Unit School District 11 in Meredosia
$36,700
Sycamore Community Unit School District 427 in Sycamore
$211,150
East Alton-Wood River Community High School District 14 in Wood River
$113,800
Taylorville Community Unit School District 3 in Taylorville
$152,350
DuQuoin Community Unit School District 300 in DuQuoin
$89,500

"This funding is vital for our district to meet the needs of our students in an ever changing technological environment, as well as to support instructional initiatives such as the Common Core Standards," said Woodstock Community Unit School District 200 Superintendent Ellyn Wrzeski.

The school district in Woodstock, which is about 40 miles east of Rockford, plans to use the funds to upgrade networks and purchase new computers and related technologies for the 9-12 schools in the district. With the help of these funds, the district hopes to take greater advantage of wireless connectivity through the use of notebooks, tablets and other handheld devices.

Additional School Technology Revolving Loan Program funds are available this fiscal year for eligible districts serving 9th through 12th grades. (The program alternates between grades 9-12 and K-8 each year.) The deadline to apply is Dec. 1. For more information, including a fiscal year 2013 loan application, visit http://www.isbe.net/spec-ed/elearning/html/revolving_loan.htm.   

The School Technology Revolving Loan Program is a 3-year loan with a 2 percent interest rate. Districts repay the loan in six payments (due two times a year). Districts that meet criteria set in law are selected on a first-come, first-serve basis contingent upon the balance of the fund, which fluctuates based on repayment schedules. A formula dictates the maximum amount districts can receive based on enrollment. Some districts request less.

The loans can be used for a variety of technology investments, including:

Since the inception of the program in fiscal year 1999, more than $75 million (535 loans) has been loaned to qualified or approved school districts. Loan applications are received from June 1 to Dec. 1 every year.

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