Student loan site upgrades, approaches peak season

Deerfield-based Illinois Designated Account Purchase Program is approaching its peak season for its student lending Web site, www.idapp.com.

About 42 percent of all applications are filed from June through August. And the site is expecting just as many this year as last year, said spokesman Paul Palian of the Illinois Student Assistance Commission, which hosts the site.

"Amazingly enough, although site visits are down with a major shift toward direct student lending largely spurred by President Obama's reforms, the increase in conversion percentage brought about by the redesign has IDAPP looking at similar numbers as last year," Palian said.

The site launched its redesign in March. The group assists people in applying for student loans and provides service on existing loans. It offers a new content management system for more control over content while providing more interaction, the agency said.

The site also allows people to quickly access the information or resources they need with a drop-down menu on the left side of the home page. It asks "What do you want to do?" and offers some responses.

The Illinois Designated Account Purchase Program started in 1977 and is the loan division of the Illinois Student Assistance Commission. Last year, the site originated $177 million in student loans to about 32,000 borrowers.

This year looks just as busy.

"While the credit crunch has hit the student loan industry hard, the Illinois Student Assistance Commission's student lending arm has $100 million to lend to students through the Federal Family Education Loan Program, thanks to a funding arrangement with members of the Illinois Credit Union League," said Palian.

"As we enter our peak period for application activity, we are confident that we are better positioned to serve the Illinois students in need of college loans," said Palian. "As we fully implement ISAC's social media strategy, which will include IDAPP and College Illinois as well, we expect to see continued growth and access to the resources available from IDAPP."

In addition, the commission hired a new chief technology officer in early May. He's likely to take a look at the commission's other Web sites - www.KnowHow2GoIllinois.org, www.IllinoisMentor.org, www.CollegeZone.com and www.CollegeIllinois.com.

"More changes or upgrades could be on the way," Palian said.