- a) The Commission provides a secondary market for ISAC Guaranteed Loans through the Illinois Designated Account Purchase Program (IDAPP). ISAC's secondary market reduces the administrative expenses of lenders and increases the availability of education loans.
- b) Through IDAPP, ISAC purchases and/or services eligible loans from IDAPP-eligible lenders.
- c) Services provided pursuant to this Subpart are conditional upon the execution of a contract between the eligible lender and ISAC, and the eligible lender's good faith compliance with the contract.
(Source: Amended at 24 Ill. Reg. 9101, effective July 1, 2000)