News

For Immediate Release
January 9, 2014

ISBE names 22 school districts to receive funds from School Technology Revolving Loan Program


Low-interest loans to boost technology in schools across the state

SPRINGFIELD — The Illinois State Board of Education today announced the selection of 22 school districts from across Illinois to receive more than $3.5 million from the School Technology Revolving Loan Program. The low-interest loans allow schools to use technology for classroom instruction and staff development.

“We’re very grateful to be able to offer districts these loans,” said State Superintendent of Education Christopher A. Koch. ”It’s essential we ensure students gain experience working with the technology and tools that will help build 21st-century skills. Today’s students are tomorrow’s workers in an economy driven by technology.’’

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 than the maximum claimable.

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

The districts receiving the loans and the amounts, which total $3,514,625, are:

SCHOOL DISTRICT
AMOUNT REQUESTED
River Trails School District 26
$219,400
Lemont-Bromberek Combined School District 113A
$366,350
Woodstock Community Unit School District 200
$325,000
Bluford CCSD 114
$ 50,000
Clay City CUSD 10
$ 56,650
Waterloo Community Unit School District 5
$300,100
Mundelein ESD 75
$265,450
Lockport Elementary School District 91
$125,800
Peoria Heights CUSD 325
$100,000
Sycamore Community Unit School District 427
$402,700
Sangamon Valley Community Unit School District 9
$ 36,000
Forrestville Valley School District 221
$112,750
Rockdale School District 84
$ 64,450
Pawnee Community Unit School District 11
$ 30,000
La Moille CUSD 303
$ 53,200
Winnebago CUSD 323
$165,100
Hinckley-Big Rock CUSD 429
$ 97,600
Casey-Westfield CUSD 4C
$117,700
Robinson CUSD 2
$178,900
Sandwich CUSD 430
$238,750
Marengo Union Elementary CSD 165
$159,275
Kansas Community Unit 3
$ 49,450

“The funding source made available to our district assists us greatly in implementing our strategic plan, which focuses on teaching and learning initiatives for 21st century learners,” said Dane A. Delli, Superintendent of River Trails School District 26 in Mount Prospect. “A speedy and reliable network infrastructure is the cornerstone of a high tech learning environment.”

The school district in Mount Prospect, a northwest Chicago suburb, plans to use the funds primarily to improve its wireless infrastructure in order to provide additional and more reliable access to the internet for students and staff. Remaining loan funds will be used to purchase additional student devices and to provide professional development for teachers on technology integration. 

Since the inception of the program in fiscal year 1999, more than $76 million (545 loans) has been loaned to qualified or approved school districts. Loan applications are received from June 1 to Dec. 1 every year. Districts awarded a loan may decline or request a lesser amount. Additional School Technology Revolving Loan Program funds may become available this fiscal year for eligible districts serving kindergarten through eighth grades. (The program alternates between grades 9-12 and K-8 each year.) The deadline to apply for the loans was Dec. 1. For more information, visit http://www.isbe.net/spec-ed/elearning/html/revolving_loan.htm.

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