Approving the fiscal year Monetary Award Program start-up formula is one of the issues the Illinois State Scholarship Commission will address Monday.

The ISSC also will look at the adoption of an amendment to make the Illinois State Scholarship a national lender and the approval of a consolidated loan program.

The MAP start-up formula is voted on every year, said ISSC Relations Agent Bob Clement. Changes in the method of calculating eligibility to congressional methodology will be discussed and possibly approved, he said.

“Overall, 5 percent of the (MAP) applicants would lose eligibility, 9 percent would gain an award,” Clement said.

“Fifteen percent would realize a decrease, 8 percent would realize an increase and 63 percent would see no changes or continue to be ineligible,” he said.

In addition, the ISSC might repeal the requirement that a borrower must be an Illinois resident, Clement said. If the amendment is adopted, the ISSC will join the many national guarantors that already exist, he said.

Clement said the ISSC could convert to a consolidated loan program. He said students with several different loans who are more than $5,000 in debt will be able to consolidate the loans and spread the payments out.

Another issue the ISSC will discuss is the budget for FY89. The requested budget to cover the student loan fund is about $152 million, Clement said.

The ISSC meeting begins at 8:30 a.m. at DeVry Institute of Technology in Lombard.