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Below are some frequently asked questions. Click on the questions to view the answers.

When are STRLP applications accepted at ISBE?

Applications are accepted between June 1 and December 1 annually. Applications submitted after December 1 will not be processed.

How do we find out if we are approved for the loan?

Districts are notified of approval or denial via a letter from ISBE; please do not call for results prior to notification.

If our district application is approved, when will we receive the loan proceeds?

Loan awards are determined on September 15, December 15, March 15, and May 15. Approved districts receive a loan package within two weeks of these dates, with funds distributed after the signed promissory note and TIN form are returned.

My district has a K-9 building, but only grades K-8 are eligible this year. What do we do?

Loan expenditures must be prorated based on the percentage of enrollment for eligible grades (K-8).

Can the district buy and install computers now and then pay the bill off with the loan proceeds?

Generally, no. ISBE advises against spending, as expenses should not be incurred before the loan is approved and funds are received.

Are warranties an allowable expenditure of loan proceeds?

Warranties included in the original purchase price are allowed, but separately purchased or extended warranties are not.

May STRLP loan proceeds be used to pay off an existing loan?

No. Loan proceeds must be used exclusively for new technology expenditures.

When is my first loan payment due?

First payments are due either March 1 or June 1 of the fiscal year, depending on whether the loan was determined on Sep/Oct 15 or Dec/Mar/May 15.

Is the STRLP loan included as part of the district’s debt limit calculation?

Yes.

What records should the district maintain for the STRLP?

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