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Illinois Student Assistance Commission Encourages Families To Learn About Personal Finance During Money Smart Week Event
DEERFIELD, IL – With the escalating cost of college and national student loan debt at over $1 trillion, it’s never been more important for students to learn financial basics. That’s why the Illinois Student Assistance Commission (ISAC) is pleased to continue its annual participation in the Federal Reserve Bank of Chicago’s annual Money Smart Week, April 18-25, which offers a series of events both state and nationwide, as well as free resources to learn about managing personal finances.
“ISAC is working to ensure that students and parents have the resources they need to make informed choices—particularly about college and how to fund it,” said Eric Zarnikow, executive director of ISAC. “We’ve supported Money Smart Week events for over 10 years because they provide an opportunity for families to get a handle on their finances—and to gain important skills that can be invaluable throughout their lives.”
As part of Money Smart Week, members of the ISACorps will participate in the Financial Fitness Fair at Skinner West Elementary School in Chicago. The ISACorps, a group of recent college graduates who act as near-peer mentors, work directly with high school students and returning adults across the state to help with the college-going and financial aid process. During the Fair, ISACorps members will host two sessions of College Knowledge Jeopardy – a fun and interactive game designed to get younger students excited about college as they learn about types of schools, admissions, picking a major, and paying for college. The event will be held at Skinner West Elementary School at 1260 W. Adams in Chicago, on Friday, April 24 from 4 p.m. to 7 p.m.
In addition to assistance from the ISACorps, ISAC offers a host of additional free resources to help families with college, financial aid, and financial literacy. The new ISAC Student Portal provides free tools to help students find colleges and scholarships, learn about the financial aid process, access career and job resources, and manage their money and student loan debt. The SALT™ Money tool, available through the Portal, offers free online money lessons about budgeting, identity theft, student loans, and more. SALT™ also offers a Repayment Navigator tool to track student loans and compare repayment plans. Students can also access articles, videos, and calculators, and get real world money advice in an online forum by and for students. Through SALT™, students and their families can gain an awareness of basic financial principles that will help them to understand, among other things, the long-term impact of their education borrowing decisions.
For more information on Money Smart Week events and resources on just about every aspect of personal finances, visit www.moneysmartweek.org. To find one of ISAC’s free college or financial aid workshops in your area, or to contact a local ISACorps member, visit www.isac.org/isacorps.
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