That is a 1965 Collegiate Ladies' model in Sky Blue. You can see the catalog page here:
Schwinn catalogs, 1961 - 1970 (271 of 765)
You can see the dealer spec. page here:
Schwinn catalogs, 1961 - 1970 (302 of 765)
According to the JA00016 serial number the frame was built on 8/26/65:
THE SCHWINN DATE CODES BY YEAR,MONTH AND DAY
It does look to be completely original but due to the condition and it being a ladies' model I'd say the value is between $50 and $100 depending on your local market.