 |
VOL. 27, NO. 7L
January 2010
Welcome to the January 2010 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout January. This e-Messaging service has replaced ISAC's use of printed newsletters 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 Lender 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 Lender Services by sending an e-mail message to lenderservices@isac.org or calling 800.477.4411 and speaking with one of the following staff members:
- David Barinholtz, extension 2822
- Denise Cannon, extension 2823
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
Summary of January 22nd Commission Meeting
Sent to Marketing News, Announcements and Operational Updates, Announcements on January 25, 2010 The following is a summary of action taken at Friday's meeting of the Illinois Student Assistance Commission (ISAC). Details regarding several of the topics discussed at the meeting are provided in the January 22nd Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission page within the e-Library at collegezone.com.
Proposed Rules and Amendments - Agenda Item 5
Rules amendments are being proposed for the 2010-11 academic year to two existing Parts: Part 2700 - General Provisions and Part 2720 - Federal Family Education Loan Program (FFELP). Administrative rules for two new programs that were signed into law in the summer have also been proposed: Part 2739 - Grant Program for Participants in SIU-C Achieve Program and Part 2756 - Public Interest Attorney Loan Repayment Assistance Program. Additionally, one Part - Forensic Science Grant Program, is being repealed. The full text of the proposed rules and amendments and notices is available for review via the January 22nd Illinois Register, accessible through the e-Library's ISAC Administrative Rules section. The anticipated effective date of these proposed rules and amendments is July 2010.
Next Meeting
The next regularly scheduled Commission meeting is set for Friday, March 26, 2010 at Illinois State University in Normal.
Commission Meeting to be Held Friday, January 22nd
Sent to Marketing News, Announcements and Operational Updates, Announcements on January 15, 2010
The next regular meeting of the Illinois Student Assistance Commission (ISAC) is scheduled for 9 a.m. on Friday, January 22nd at Northeastern Illinois University in Chicago.
Some of the items on the tentative agenda for the meeting are:
- FY2011 Monetary Award Program (MAP) Start-up Formula
- Proposed Rules and Amendments
- FY2010 Bonus Incentive Grant (BIG) Program Allocation
- College Illinois!® Investment Policy, Fund Management and Sales Agent
The Agenda Book, providing the complete agenda and item descriptions, will be available via the 2010 Agenda Books page (located within the ISAC's Governing Board: The Commission section of the e-Library at collegezone.com) prior to the meeting. The online Agenda Book will be updated within 1 - 2 days following the meeting to reflect action taken.
There are no plans for a conference call briefing following this meeting.
Mark Your Calendar for Upcoming Important Dates
Sent to Marketing News, Announcements and Operational Updates, Announcements on January 4, 2010 The Illinois Student Assistance Commission (ISAC) would like to make you aware of the following information, which may be of interest to your student loan borrowers.
College Awareness & Preparation (CAP) Resources Available for 2010-11 FAFSA Cycle
Let students and their families know that the 2010-11 Free Application for Federal Student Aid (FAFSA) cycle, including FAFSA on the Web and Corrections on the Web, opened on January 1, 2010. Details regarding the 2010-11 application cycle are provided within the Applying for Financial Aid section of the e-Library.
Note that the Web address for FAFSA on the Web has recently been updated to http://www.fafsa.gov/ - however, the previous address (http://www.fafsa.ed.gov/) remains active, as well. Either of these URLs will launch the federal site for completing and submitting the FAFSA, free of charge.
Check out the College Awareness & Preparation (CAP) page at collegezone.com for information regarding resources that are available to help students complete the financial aid process. Several events, including FAFSA completion seminars, will take place across the State of Illinois from now through March. Encourage your student loan borrowers to attend the event that best fits their schedule.
CAP is a comprehensive effort of the Illinois Association of Student Financial Aid Administrators (ILASFAA), Inc., the Illinois Association for College Admission Counseling (IACAC) and ISAC. Formerly known as Financial Aid Admission/Awareness Month (FAAM), CAP strives to fulfill its mission through a series of workshops, seminars and statewide support with partners from all sectors of education in the State of Illinois.
January 22nd: Commission Meeting
The next regularly scheduled meeting of the Illinois Student Assistance Commission will take place on Friday, January 22, 2010, at Northeastern Illinois University in Chicago. A listing of tentative agenda items will be available prior to the meeting via the ISAC's Governing Board: The Commission section of the e-Library. Information can also be accessed by selecting the link that appears beneath the "Resource Center" heading at the College Zone home page.
Holiday Schedules
January 18th: Martin Luther King, Jr. Day
February 12th: Lincoln's Birthday
February 15th: Presidents' Day
In observance of the Martin Luther King, Jr. Day, Lincoln's Birthday and Presidents' Day holidays, ISAC offices will be closed on Monday, January 18th, on Friday, February 12th, and on Monday, February 15th, respectively. Our offices will reopen on the Tuesday following each holiday.
Loan records received at ISAC on the holidays, as well as disbursement records received at the National Disbursement Network (NDN), will be processed the following business day. This means that, for each holiday listed above, CommonLine or Common Account Maintenance (CAM) files will be processed on the following Tuesday, with results available on Wednesday (or the next available day for any schools opting to receive NDN files on specific days of the week). Note that ELM Resources will continue to process and transmit files on the holidays.
For Assistance
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's Lender Services Department. With the exception of days when the ISAC offices are closed, ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8:30 a.m. - 5 p.m. CT).
Return to Top
ISAC UPDATE
Electronic ISAC Update for December 2009 Available at College Zone
Sent on January 4, 2010 The December 2009 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 lenders and servicers in December via College Zone's e-Messaging service.
Topics covered in the December 2009 ISAC Update include:
- Happy Holidays from ISAC
(sent December 15, 2009)
- Electronic ISAC Update for November 2009 Available at College Zone
(sent December 1, 2009)
Return to Top
|
|
|
|
