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VOL. 25, NO. 10IGSL, 10B
April 2008
Welcome to the April 2008 ISAC Update for financial aid administrators and business officers. This version of the electronic ISAC Update is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout April. This e-Messaging service has replaced ISAC’s use of printed newsletters, the ILASFAA ListServ, and special e-mail lists as our primary means of communicating information to you.
The articles in this Update have been organized according to the FAA Zone subscription groups to which the messages were distributed via College Zone’s e-Messaging service.
Questions?
Questions regarding information in this ISAC Update can be directed to School Services at 866.247.2172 or at ISAC.SchoolServices@isac.illinois.gov. On occasion, you may be directed to a specific contact person or area; when this occurs, we will provide the appropriate information in the individual article or message.
MULTIPLE SUBSCRIPTION GROUPS
New State Legislative Update Posted (April 21, 2008)
Sent to Financial Aid Directors and Financial Aid Administrators on April 21, 2008 A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated April 21, 2008, contains the most recent status of bills which pertain to ISAC-administered programs and education in general.
Since our last Update, there has been little change in the status of the bills highlighted; however, information is included in the introduction regarding activity which has occurred in response to two resolutions approved last year.
Refer to the Update for links to details about the development of "A Public Agenda for Illinois Higher Education: Planning for College and Career Success" and "A Report on Textbook Cost-Saving Measures Undertaken by Illinois Public Higher Education Institutions Pursuant to Senate Resolution 298".
The State Legislative Update can be accessed through College Zone's e-Library, #13, ISAC Announcements, Press Releases & State Legislative Updates. We will notify you when a new Update is posted.
Don't Forget - Money Smart Week Chicago (April 20-26, 2008)
Sent to Financial Aid Directors, Financial Aid Administrators, Business Officers and FFELP Participants on April 15, 2008 As a follow-up to our March 26th e-Message, the Illinois Student Assistance Commission (ISAC) would like to remind you that Money Smart Week (MSW) Chicago 08 will take place next week (April 20th – 26th) in the greater Chicago metropolitan area. Events have been planned to promote financial literacy and help consumers learn to better manage their personal finances.
Be sure to join Jacqui Moreno, Director of Public Service, as she presents the topic Consumer Economics of Higher Education twice on Monday, April 21st (9:30 a.m. at ISAC's Deerfield office, and 1 p.m. at the James R. Thompson Center in Chicago), providing an overview of the financial aid packaging process and how students can prepare for the financial responsibilities associated with financing college.
We look forward to seeing you!
2007-08 IIA Program Payment Update - Timely Held Claims Will Be Processed on April 14th
Sent to Financial Aid Directors, Financial Aid Administrators and MAPnet Users on April 11, 2008 As was announced in a March 7th e-Message, all claims submitted on or after March 5, 2008 for the 2007-08 Silas Purnell Illinois Incentive for Access (IIA) Program have been held and not processed for payment, in order to allow ISAC staff to analyze payment claim data. At that time, schools were asked to complete a full reconciliation of IIA Program disbursements and report all cancellations.
Based on our analysis, and thanks to the reconciliation efforts of our school partners, all timely 2007-08 IIA Program payment claims that have been held since March 5th will be processed the evening of Monday, April 14, 2008.
Records that will be included in the April 14th payment run are currently in an "Exported" status (Status Flag = "E") in MAPnet. Payment results for these records will be available in MAPnet on Tuesday, April 15, 2008.
After payment processing has completed on April 14th, further analysis will be required to determine when additional payment runs will take place for future timely 3rd term claims. ISAC will pay all timely 3rd term claims, however, positive IIA payment requests submitted on or after April 15th will be held until it is determined when timely claims will be processed. Cancellations to previously paid requests will continue to be processed on a daily basis.
Please Continue to Reconcile 2007-08 IIA Program Records
Schools are again encouraged to complete a full reconciliation of IIA Program disbursements and report all cancellations as soon as possible by following the cancellation guidance provided in the Processes section of the FAA Zone at collegezone.com. ISAC will inform schools when it is time to return funds associated with the cancellations.
As new information becomes available regarding 2007-08 IIA Program payment processing, it will be shared following ISAC's established methods of communication (i.e., IIA Program News, FAA Zone Message Board and e-Messages).
Overcoming Challenges, Celebrating Successes
Sent to Financial Aid Directors and Financial Aid Administrators on April 3, 2008 We look forward to seeing you during the Illinois Association of Student Financial Aid Administrators (ILASFAA) 2008 annual conference, Overcoming Challenges, Celebrating Successes, being held April 16th through 18th at the Crowne Plaza in Springfield. Please stop by and visit with us at our booth in the vendor area or at one of the sessions that ISAC staff will be presenting or co-presenting.
- ISAC Update scheduled following breakfast, at
8:15 a.m. on Thursday, April 17th
- Federal and State Program Overview being presented at 3:30 p.m. on Wednesday, April 16th
Once on site at the hotel for the conference, refer to the conference program for the location of each session. For more details regarding the 2008 ILASFAA Conference, visit the ILASFAA Web site.
2008-09 Budget Packets Now Available Online - Due On or Before June 1, 2008
Sent to Financial Aid Directors, Financial Aid Administrators, and Public Schools - Participating in the ING Grant and IVG Programs on April 2, 2008 The annual gathering of budget information from postsecondary institutions participating in the Monetary Award Program (MAP) and the Illinois Veteran Grant (IVG) and Illinois National Guard (ING) Grant programs is upon us. For your convenience, the forms used to submit this information are available online through collegezone.com. Access budget packets, updated instructions and Frequently Asked Questions (FAQs) for the MAP, IVG and ING Grant programs by selecting the "Budget Reporting - MAP, IVG & ING" option from the left-margin menu of the FAA Zone Processes area.
The 2008-09 Gift Assistance Programs Budget Packet allows schools participating in all three programs (community colleges and four-year universities) to enter their budget information on one form. Schools that participate only in MAP will complete the 2008-09 Monetary Award Program Budget Packet. Each packet is available in both Portable Document Format (PDF) and Microsoft Word format.
E-mail Preferred Method - Due On or Before June 1, 2008
The preferred method of submitting the budget packet is electronically via the e-mail account of the Financial Aid Director. To ensure smooth and timely processing, all budget packets submitted electronically, as with paper submissions, must arrive at ISAC on or before June 1, 2008.
If you choose to mail or fax the budget packet to ISAC, note the address on the front page of each packet. The 2008-09 information is being mailed or faxed to ISAC's Springfield Office. If you have questions concerning the budget packet process, please contact a School Services Representative at 866.247.2172 or ISAC.SchoolServices@isac.illinois.gov.
Do You Want to Change How Your MAP Awards are Calculated?
Schools have a choice in how MAP term awards are calculated. Awards may be split evenly between terms or be split by whole dollar amounts. For example, if a semester school has elected to use the "cents" option, an annual award of $4521.00 is split evenly between terms as an award of $2260.50. If the school chooses to use the "no cents" option, the annual award of $4521.00 would be $2260.00 for the first term and $2261.00 for the second term. A definition of the "cents" or "no cents" option for quarter schools can be found at the above link.
The majority of schools calculate term awards by the "cents" option, but if you're interested in switching to the "no cents" option (or vice versa), simply send an e-mail message to ISAC.SchoolServices@isac.illinois.gov prior to June 1, 2008. Your awards would be re-calculated using the new method at the time of recompute later this summer.
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BUSINESS OFFICER
Illinois Electronic Transcript Exchange Informational Sessions Being Offered in May
Sent on April 29, 2008 Counselors and Registrars: You are invited to join us for an informational session about the Illinois Electronic Transcript Exchange, a feature offered at no cost by the Illinois Student Assistance Commission (ISAC) and powered by Xap Corporation.
Currently at a high point with many high schools and colleges participating in the program, we are pleased to offer you the opportunity to discover how your school can benefit from this useful service. During the month of May, ISAC's Division of Public Service is offering two informational sessions for high school counselors and registrars:
- May 20th - Southern Illinois University Edwardsville (SIU-E)
- May 22nd - Northern Illinois University (NIU)
These sessions (9:30 a.m. - 11 a.m.) will provide you with an overview of the Transcript Exchange, an understanding of the setup process, and a walk through of its features. More importantly, we will provide you with answers to questions such as:
- Is this service compatible with my Student Information System (SIS)?
- How will I know if a participating college has received my student's transcript?
- Who do I contact with questions about the Counselor Center?
- After installing Transcript Exchange, how soon can I start sending transcripts?
- Can I modify transcripts after they have been sent?
- Who do I contact to follow-up on the status of my school's Transcript Exchange implementation?
Whether your high school has already signed up or is not yet participating in the Illinois Electronic Transcript Exchange program, if you would like more information on this service, all are welcome to attend.
How to Register
Registration will only be accepted via e-mail. Please send an e-mail to ISAC.ilte@isac.illinois.gov, indicating in the subject line the location you plan to attend. In the e-mail, please include the following information for every person you are registering:
- Name
- School or Organization
- Phone Number
- E-mail address
A confirmation e-mail will be sent within 72 hours if all information is provided. Further details (including directions, parking information and building/room locations) will be provided in the confirmation e-mail.
Continental breakfast will be provided and registration begins at 9 a.m. We look forward to seeing you at one of our upcoming informational sessions.
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on April 3, 2008 and April 18, 2008
The Notification of Student Loan Borrower DAAR Status report (School DAAR Report) for your school is now available on College Zone's My Zone.
The School DAAR Report is non-cumulative and is available twice a month to those institutions with students for whom ISAC, as the guarantor, has received a Default Aversion Assistance Request (DAAR) during the reporting time period. Each time a new School DAAR Report is made available online, an e-Message will be sent to the "FFELP Participants" e-Messaging subscription group.
Accessing School DAAR Reports at My Zone
My Zone is a portal available in the FAA Zone at collegezone.com that allows postsecondary schools online access to student-specific data in a secure environment. If you have not yet signed up to participate in My Zone, proceed to the FAA Zone front page and select the My Zone Quick Link.
For complete information and instructions to access your school's DAAR Report, proceed to the FAA Zone front page and select the My Zone Quick Link in the right margin of the page.
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ISAC UPDATE GROUP
Electronic ISAC Update for March 2008 Available at College Zone
Sent on April 1, 2008 The March 2008 edition of the ISAC Update is now available for your review within the ISAC Publications section of College Zone's e-Library. This version of the monthly electronic ISAC Update is a compilation of e-Messages sent to financial aid administrators and business officers in March via College Zone's e-Messaging service.
Topics covered in the March 2008 ISAC Update include:
- New State Legislative Update Posted (March 28, 2008)
(sent March 28, 2008)
- Commission Meeting to be Held Friday, April 4, 2008
(sent March 28, 2008)
- Mark Your Calendar for Upcoming Important Dates
(sent March 27, 2008)
- Money Smart Week Chicago: April 20-26, 2008
(sent March 26, 2008)
- 2007-08 IIA Program Payment Alert
(sent March 7, 2008)
- Latest School DAAR Report Available
(sent March 3, 2008 and March 18, 2008)
- Electronic ISAC Update for February 2008 Available at College Zone
(sent March 3, 2008)
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