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VOL. 27, NO. 9IGSL, 9B
March 2010
Welcome to the March 2010 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 March. 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 schoolservices@isac.org. 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 March 26 Commission Meeting
Sent to Financial Aid Directors and Financial Aid Administrators on March 29, 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 March 26 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 4
The Commission approved submitting 2010-11 proposed rules and amendments, as modified thus far during the rulemaking process, to the Joint Committee on Administrative Rules.
For the 2010-11 academic year, rules amendments are being proposed to two existing Parts: General Provisions and Federal Family Education Loan Program (FFELP). In addition, rules for two new ISAC programs (Grant Program for Participants in SIU-C Achieve Program and Public Interest Attorney Loan Repayment Program) have been proposed, and rules for the Forensic Science Grant Program are being repealed because the program has ceased to exist. The anticipated effective date of these proposed rules and amendments is July 2010.
FY2011 MAP and IIA Program Authority to Suspend - Agenda Item 5
The Commission approved authorization for ISAC to suspend announcements for the FY2011 Silas Purnell Illinois Incentive for Access (IIA) Program (retroactively) and the Monetary Award Program (MAP) when it becomes necessary to avoid the risk of overcommitting the appropriations. This item includes a summary of 2010-11 MAP and IIA application volume through March 12, 2010.
Next Meeting
The next regularly scheduled Commission meeting is set for Friday, June 25, 2010 at Trinity Christian College in Palos Heights.
ISAC Offices Closed Friday, April 2
Sent to Financial Aid Directors and Financial Aid Administrators on March 26, 2010 Staff at all ISAC locations will be unavailable on Friday, April 2, 2010, due to a furlough closing.
Although we're unavailable, our Web site - collegezone.com - can be accessed at any time to find information regarding programs administered by ISAC.
E-mail messages sent to ISAC's School Services Department will be answered upon our return to the office.
Regular business hours will resume on Monday, April 5.
Processing Schedules
Loan records received at ISAC on April 2 will be processed the following business day. This means that CommonLine or Common Account Maintenance (CAM) files will be processed on Monday, April 5, with results available on Tuesday, April 6. Note that the National Disbursement Network (NDN) and ELM Resources will continue to process and transmit files on April 2.
Although ISAC's offices will be closed on April 2, MAPnet will be available during regularly scheduled hours and will reflect records processed by the Central Processing System (CPS) through Thursday, April 1. MAP payment requests submitted from 5 p.m. (CT) on April 1 through
5 p.m. (CT) on April 5 will be processed the evening of April 5, and payment results will be available via MAPnet the next morning (Tuesday, April 6).
2010-11 Budget Packets Now Available Online - Due On or Before June 1, 2010
Sent to Financial Aid Directors, Financial Aid Administrators, and Public Schools - Participating in the ING Grant and IVG Programs on March 25, 2010 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 2010-11 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 2010-11 Monetary Award Program Budget Packet. Each packet is available in both Portable Document Format (PDF) and Microsoft Word.
The 2010-11 budget packets have the same format as last year, and the process for submitting them also remains the same.
E-mail Preferred Method - Due On or Before June 1, 2010
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, 2010. If a school's annual budget is not final by June 1st, the budget packet is to be returned with estimated figures and a letter from the financial aid director that provides the approximate date by which the final budget will be submitted. All final budgets must be received at ISAC on or before August 1, 2010.
If you choose to mail or fax the budget packet to ISAC, note the address and fax number in the final step of each packet. The 2010-11 information is to be 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 schoolservices@isac.org.
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 schoolservices@isac.org prior to June 1, 2010. Your awards would be re-calculated using the new method at the time of recompute later this summer.
Mark Your Calendar for Upcoming Important Dates
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs, MAPnet Users, Business Officers and FFELP Participants on March 22, 2010 2009-10 BIG Program Application Available
The 2009-10 College Savings Bond Bonus Incentive Grant (BIG) Program application is currently available to download and print. ISAC will continue to accept applications until funds have been depleted. The BIG Program provides grants to qualifying beneficiaries of Illinois College Savings Bonds. You are encouraged to notify the Registrar's Office at your college that they may see an increase in requests for enrollment verification, and their prompt response to those requests will greatly assist bondholders and students with the application process. Further details are provided in a February 16
e-Message.
March 26: Last Day to Complete 2009-10 TESP Online Certifications at My Zone
In order to prepare for the availability of 2010-11 Teacher Education Scholarship Programs (TESP) initial certifications at My Zone (anticipated to take place in early April), all 2009-10 TESP certifications will be available for historical view only effective March 29. The last day on which
2009-10 TESP certifications can be updated at My Zone is Friday, March 26, 2010. Impacted are the Illinois Future Teacher Corps (IFTC), Minority Teachers of Illinois (MTI) Scholarship, and Golden Apple Scholars of Illinois programs.
April 1: 2009-10 MAP Initial Payment Claims Due
2009-10 Monetary Award Program (MAP) initial payment claims for first and second semester/quarter are due to ISAC on or before April 1, 2010.
April 14: 2009-10 ING Grant Spring Term Initial Payment Requests Due
Spring term initial payment requests for the 2009-10 Illinois National Guard (ING) Grant Program, which are submitted online via the My Zone portal, are due to ISAC on or before April 14, 2010.
April 15: 2009-10 STS Program Second Quarter Payment Claims Due
2009-10 Student to Student (STS) Program of Matching Grants second quarter payment claims are due to ISAC on or before April 15, 2010. Payment of second semester/second or third quarter claims will occur after June 15 (the STS claim deadline for second semester/third quarter), once we have determined what proration factor, if any, will be necessary for STS Program awards for these terms. If proration is necessary, then no late claims will be paid.
April 29: 2009-10 ING Grant Spring Term Supplemental Payment Requests Due
Spring term supplemental payment requests for the
2009-10 ING Grant Program, which are submitted online via the My Zone portal, are due to ISAC on or before
April 29, 2010.
May 15: 2009-10 Robert C. Byrd Honors Scholarship Payment Claims Due
Eligibility Certification/Payment Request Rosters for the 2009-10 Robert C. Byrd Honors Scholarship Program are due to ISAC on or before May 15, 2010. Payment requests must be submitted online via the My Zone portal of College Zone. Be sure to regularly visit the Payment Procedures for the Byrd Scholarship section of the ISAC Gift Assistance Programs area for updates regarding the 2009-10 payment cycle. Questions regarding the Byrd payment process may be directed to an ISAC School Services Representative.
May 25: 2009-10 IVG Spring Term Payment Claims Due
2009-10 Illinois Veteran Grant (IVG) Program spring term payment claims are due to ISAC on or before May 25, 2010. Although schools will not be reimbursed for spring term awards or late claims, payment requests must be submitted to ISAC so eligibility units can be assessed to students' accounts.
June 1: 2009-10 MAP Payment Claims Due
2009-10 MAP payment claims for third quarter, and for second semester at institutions where the second semester begins after February 15, are due to ISAC on or before June 1, 2010.
June 15: 2009-10 STS Second Semester/Third Quarter Payment Claims Due
2009-10 STS Program second semester/third quarter payment claims are due to ISAC on or before
June 15, 2010. Payment of second semester/second or third quarter claims will occur after this date, once we have determined what proration factor, if any, will be necessary for STS Program awards for these terms. If proration is necessary, then no late claims will be paid.
July 1: Final Close-out Date for 2009-10 ISAC Gift Assistance Programs
With the exception of the Robert C. Byrd Honors Scholarship Program (see the May 15 entry of this section, above, for information regarding the Byrd Honors Program), all submissions of 2009-10 payment requests (including initial claims and supplemental claims) for ISAC-administered gift assistance programs must be received on or before July 1, 2010. Adjustments (to cancel or reduce awards) will be accepted after this date for MAP and the IIA Program.
Specific details regarding close-out of 2009-10 ISAC-administered gift assistance programs will be provided via a separate e-Message as we move closer to July 1. In the meantime, continue to visit the Program News sections for individual gift assistance programs for status updates and operational details (including both the 2009-10 and 2010-11 academic years).
2010-11 Program-Specific Information
Early April: 2010-11 TESP Initial Certifications Available at My Zone
We anticipate that 2010-11 TESP initial certifications (for the IFTC, MTI Scholarship and Golden Apple Scholars of Illinois programs) will be available at My Zone in early April. Colleges are encouraged to submit completed certifications within 30 days of the time they are made available. Remember that all initial certifications available in My Zone must be completed, regardless of whether the college certifies a student as eligible or ineligible and regardless of whether the student is currently enrolled.
By May 1: 2010-11 Robert C. Byrd Honors Scholars Will Be Announced
Be sure to regularly visit the Robert C. Byrd Honors Scholarship Program section of the ISAC Gift Assistance Programs area for updates regarding the announcement of 2010-11 new and renewal awards.
June 1: 2010-11 Budget Packets Due
On or before June 1, 2010, all participating Illinois schools must submit either a 2010-11 Gift Assistance Budget Packet [to report budget data for the MAP, IVG and ING Grant programs] or a 2010-11 Monetary Award Program Budget Packet (to report budget data for MAP only). ISAC anticipates having the budget packets, along with accompanying instructions and documentation, posted at College Zone no later than April 1, 2010.
Upcoming Commission Meetings
The next regularly scheduled meetings of the Illinois Student Assistance Commission will take place as follows:
- Friday, March 26, 2010, at Illinois State University in Normal
- Friday, June 25, 2010, at Trinity Christian College in Palos Heights
A listing of tentative agenda items will be available prior to each meeting via the ISAC's Governing Board: The Commission section of the e-Library. Dates and locations for all regularly-scheduled meetings in 2010 are available at the e-Library's Commission Meeting Schedule page. Agenda and meeting schedule information can also be accessed by selecting the link that appears beneath the "About ISAC" heading at the College Zone home page.
TRAINING OPPORTUNITIES AND OTHER EVENTS
March 24 - March 26: ILASFAA Annual Conference
Be sure to stop by and visit ISAC staff during the 2010 Illinois Association of Student Financial Aid Administrators (ILASFAA) Annual Conference (Making Connections: u r ILASFAA), which will take place March 24 through
March 26 at the Crowne Plaza in Springfield. We look forward to seeing you!
March 29: Teacher Education Programs/My Zone Webinar
A Webinar providing an overview of the Illinois Future Teachers Corps (IFTC), Minority Teachers of Illinois (MTI) Scholarship, Illinois Special Education Teacher Tuition Waiver (SETTW), and Golden Apple Scholars of Illinois programs, as well as the sections of My Zone that are used to administer these programs, will be offered on Monday, March 29 at 2 p.m. To participate: access the PowerPoint presentation that will be posted on March 29 at the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
UPCOMING SCHEDULES
The following are upcoming dates on which the National Disbursement Network (NDN) and/or ISAC offices will be closed:
- Friday, April 2, 2010 (Furlough Day Closure) - ISAC offices only closed
- Monday, May 31, 2010 (Memorial Day Holiday) - both ISAC and NDN offices closed
- Monday, July 5, 2010 (Independence Day Holiday) - both ISAC and NDN offices closed
Our offices will reopen on the first business day following each of the above dates.
Loan records received at ISAC on the above dates, as well as disbursement records received at the National Disbursement Network (NDN) on the holidays, will be processed the following business day. This means that, for closure dates that fall on a Monday, 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). For closure dates falling on a Friday, CommonLine or CAM files will be processed on the following Monday, with results available on Tuesday (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.
Although ISAC's offices will be closed on the above dates, MAPnet will be available during regularly scheduled hours and will reflect records processed by the Central Processing System (CPS) through the last business day immediately preceding each respective closure. MAP payment requests submitted from 5 p.m. (CT) the preceding business day through 5 p.m. (CT) the first business day following each closure will be processed the evening of that first business day, and payment results will be available via MAPnet the next morning. For example: with the Independence Day holiday, payment requests submitted from 5 p.m. (CT) on Friday, July 2 through
5 p.m. on Monday, July 5 will be processed on Tuesday night, and payment results will be available via MAPnet the morning of Wednesday, July 7.
For Assistance
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's School 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).
Commission Meeting to be Held Friday, March 26
Sent to Financial Aid Directors and Financial Aid Administrators on March 19, 2010 The next regular meeting of the Illinois Student Assistance Commission (ISAC) is scheduled for 9:30 a.m. on Friday, March 26 at Illinois State University in Normal.
Some of the items on the tentative agenda for the meeting are:
- Proposed Rules and Amendments
- FY2011 Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Application Volume Update and Request for Authority to Suspend
- Partial Payment of Federal Default Fee for 2010-11 Academic Year
- College Illinois!® 529 Prepaid Tuition Program Annual Report and Investment Approval
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.
Teacher Programs Webinar Offered on March 29
Sent to Financial Aid Directors, Financial Aid Administrators Business Officers on March 17, 2010 The Illinois Student Assistance Commission (ISAC) will offer a Webinar on its Teacher Programs and related My Zone functionality on Monday, March 29 at 2 p.m. Please note that this is a change from the date that was originally announced in the January 12 e-Message announcing spring training opportunities. The March 29 Webinar will include an overview of the Illinois Future Teachers Corps (IFTC), Minority Teachers of Illinois (MTI) Scholarship, Illinois Special Education Teacher Tuition Waiver (SETTW), and Golden Apple Scholars of Illinois programs, as well as the sections of My Zone that are used to administer these programs.
To participate in the Webinar: access the PowerPoint presentation that will be posted on March 29 at the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
2009-10 ING Grant Spring Term Payment Request Rosters Available at My Zone
Sent to Financial Aid Directors, Financial Aid Administrators and Public Schools - Participating in the ING Grant and IVG Programs on March 17, 2010 We are pleased to announce that - effective March 16, 2010 - 2009-10 Illinois National Guard (ING) Grant payment request rosters for the spring term are available at My Zone. This online functionality allows colleges to submit ING Grant payment requests (initial, supplemental and out-of-district) via the My Zone portal.
Reminders
Submit Payment Requests for Each Term
Payment request rosters are made available at My Zone after the application deadline has passed for each term. Colleges then have 30 days from the date on the roster to submit the completed (original) roster, and 45 days to submit a supplemental roster.
In order to ensure timely claims processing, for ING Grant spring term payment request rosters dated
March 16, 2010, initial electronic payment requests are due to ISAC on or before April 14, 2010 and supplemental electronic payment requests are due to ISAC on or before April 29, 2010.
Specific details regarding the online roster process are provided at the ING Payment Roster page at My Zone.
"Adjustment Type" Field for Supplemental Claims
As was announced last November, an "Adjustment Type" field is available for supplemental rosters. Information about the "Adjustment Type" field is provided online via the ING - Supplemental Payment Request Quick Reference Guide.
Other Reminders
- A cumulative list of payment request rosters is available for the entire fiscal year, which minimizes the need to print and retain hard copies of rosters.
- The system is available each Monday through Saturday from 7 a.m. until 7 p.m. (CT).
- Information regarding ING Grant payment results is available at the ING Payment Roster area of My Zone.
Instructions Available Online
More information regarding ING Grant Payment Request Rosters at My Zone, including detailed instructions, is available via the following locations at collegezone.com:
Security Levels for Accessing Data
The security level for a staff person to request, edit or update ING Grant payment claims must be set to Level 2 ("View and Update") by the My Zone administrator at each college. The My Zone administrator should set user access to Level 1 ("View Only") for staff who will not be involved in requesting payment, but need to view ING Grant eligibility and payment information.
Questions?
If college staff or My Zone administrators have problems gaining access to ING Grant Payment Request Rosters at My Zone, or have questions regarding the online system, they should contact ISAC's School Services Department as indicated below.
New State Legislative Update Posted (March 16, 2010)
Sent to Financial Aid Directors and Financial Aid Administrators on March 16, 2010 A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated
March 16, 2010, discusses activity relating to higher education taking place in the Illinois General Assembly's spring session.
Highlighted in this edition is information about the governor's proposed budget for Fiscal Year 2011
(July 1, 2010 - June 30, 2011), including a chart detailing the proposed appropriations for ISAC's programs.
Also included is a summary of legislation being considered during the spring session that affects student financial aid and/or ISAC. The bills are arranged in the following categories: Other Budget Proposals, Budget/
Appropriations, Changes to Existing Programs, Proposed New Programs, and Resolutions. The current status of each bill immediately follows the bill description.
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.
Join ISAC in Springfield for "Making Connections: u r ILASFAA"
Sent to Financial Aid Directors and Financial Aid Administrators on March 16, 2010 We look forward to seeing you during the Illinois Association of Student Financial Aid Administrators (ILASFAA) 2010 annual conference, Making Connections:
u r ILASFAA, being held March 24 through March 26 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 and ISACorps members will be presenting or co-presenting.
Wednesday, March 24
- College Access Challenge Grants One Year In
4:45 - 5:30 p.m.
Presenters include Carl Camacho, Christopher Hightower (ISACorps) and Hillary Van Dyke (ISACorps)
- How to Track and Talk to State and Federal Government
4:45 - 5:30 p.m.
Presented by Katharine Gricevich and Susan Fields Thursday, March 25
- ISAC Update – General Session
8:30 - 9:30 a.m.
Presented by Andy Davis, Chris Peterson, and Katharine Gricevich
- Financial Aid Acronyms/Electronic Resources
9:45 - 10:30 a.m.
Presented by Kim Eck
- Exploring Financial Aid Implications of Changing Demographics
10:45 - 11:45 a.m.
Presented by Sue Kleemann
- Financial Literacy on Campus
10:45 - 11:45 a.m.
Presented by Russ Goeltenbodt
- Veteran Programs and Benefits (including dealing with veteran students)
1:45 - 2:30 p.m.
Presenters include Kim Eck
- ISAC – Future of MAP Grant and Other State Programs
4:30 - 5:15 p.m.
Presented by Sue Kleemann
- Creating Partnerships with Your Area High Schools
4:30 - 5:15 p.m.
Presenters include Adam Clark (ISACorps) and Erik Rancatore (ISACorps) Friday, March 26
- Mapping Your Future – Entrance/Exit Loan Counseling
8:30 - 9:30 a.m.
Presented by Sam Nelson
- College Savings Plans: College Illinois!®/Bright Start
9:45 - 10:30 a.m.
Presented by Tonya Polk
- Need Analysis/EFC Changes
9:45 - 10:30 a.m.
Presented by Kim Eck Once on site at the hotel for the conference, refer to the conference program to find the location of each session. For more details regarding the 2010 ILASFAA Conference, visit the conference mini-site at the ILASFAA Web site.
IIA Processing Update as of March 12th
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on March 12, 2010
The State of Illinois Fiscal Year 2011 proposed budget, recently released by Governor Pat Quinn included no funding for the Silas Purnell Illinois Incentive for Access (IIA) Program. Consequently, ISAC is putting student records with an initial 2010-11 Free Application for Federal Student Aid (FAFSA) receipt date on or after
March 12, 2010 in suspense for IIA.
While we are not announcing IIA awards, we are continuing certain processing functions, including suspense processing, in order to monitor and evaluate student data. The IIA suspense flag ("S" in the IIA Suspend field on MAPnet screens and transmitted files) will begin appearing on impacted records beginning Monday,
March 15th.
As we advised in previous e-Messages (February 10 and March 4), no IIA award information will appear on the 2010-11 acknowledgement letters sent to students by ISAC. Colleges are not to announce IIA awards due to the expectation that the program will not be funded.
This action impacts IIA only and not awards for the 2010-11 Monetary Award Program.
2010-11 MAP and IIA Processing Information
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users, and Business Officers on March 4, 2010 The following information is provided to assist financial aid professionals as they process Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program awards for the 2010-11 academic year.
No Announcement of 2010-11 IIA Program Awards
As was originally indicated in a February 10 e-Message, no IIA Program award information appears on the 2010-11 acknowledgement letters sent to students by ISAC. Colleges are urged not to announce IIA awards, as preliminary indications are that the program will not receive funding for the 2010-11 academic year. As more definite information becomes available during the fiscal year 2011 state budget process, you will be notified via the usual communication methods (i.e., e-Messages, the FAA Message Board, and the IIA Program News page).
Required MAP Award Letter Language
As a reminder, all colleges are required to:
- announce MAP awards to the students enrolled at their institutions, including students who are only eligible for a second semester/second and third quarter MAP award;
- clearly identify the awards on the award notification as: State of IL MAP Grant (Est); and
- include the School Issued Award Letter Language for 2010-11 with the award notification.
Compliance with the above requirements is one of the components included in ISAC program reviews.
Resources Available Online
The following MAP processing resources are available at collegezone.com:
Budget Packets to be Available April 1
We anticipate that 2010-11 budget packets will be available for colleges to retrieve at collegezone.com by April 1, 2010. Colleges can expect the same packet format and general process as last year.
- 2010-11 budget packets should be completed and submitted to ISAC on or before June 1, 2010.
- If final tuition and fee charges will not be determined by June 1, a written explanation stating that the institution's governing board has not finalized budget figures must accompany the budget packet (listing estimated figures) and be signed by the Financial Aid Director. Final tuition and fee figures must then be submitted to ISAC on or before August 1, 2010.
- The preferred method of submitting the budget packet is as an attachment via the e-mail account of the Financial Aid Director.
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FINANCIAL AID ADMINISTRATOR
Fifth Third Bank Joins ISAC to Present College Smart Fair April 23-24
Sent on March 25, 2010
The Illinois Student Assistance Commission (ISAC) is pleased to announce its partnership with Fifth Third Bank to present the College Smart Fair, April 23-24, at the University of Illinois Chicago Student Center East. The two-day event is part of the Federal Reserve Bank of Chicago’s Money Smart Week®, April 17-24, which provides free financial classes to consumers throughout Chicago and the state.
Hosted by the UIC Office of the Vice Chancellor of Student Affairs, the College Smart Fair will offer high school seniors the opportunity to receive guidance in navigating the financial aid system; assistance reviewing financial aid award letters and understanding payment responsibilities; and workshops addressing a number of college-related topics and panel discussions regarding paying for college.
Participants will have access to presenters from all aspects of the college experience including College Illinois!® 529 Prepaid Tuition Program representatives, Illinois Student Assistance Corps representatives and representatives from Fifth Third Bank, in addition to financial aid and student account representatives from Illinois colleges.
The ISAC College Smart Fair presented by Fifth Third Bank will include the following components as they relate to how to pay for college in Illinois:
University Student Finance Expo
- Student Financial Aid and Student Account representatives from Illinois universities and community colleges
Workshops
- Paying for college, understanding the total cost of education
- Understanding the financial aid process and financial fitness
- Parent break-out sessions
- Answering questions for students with special needs
Panel Discussions
- Student Ambassadors who are currently attending college and know the process
- Illinois Youth Saves and Money Smart Kids entering college
- University Student Finance professionals
- Parents who have children currently attending college and have been through the process
For more information about Money Smart Week or the ISAC College Smart Fair presented by Fifth Third Bank, visit www.collegezone.com/moneysmart.
To participate in the event, contact Russ Goeltenbodt , ISAC Student Advocate/Financial Literacy Specialist, at
rgoeltenbodt@isac.org, 312.814.1926.
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on March 3, 2010 and March 18, 2010
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 February 2010 Available at College Zone
Sent on March 1, 2010
The February 2010 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 February via College Zone's e-Messaging service.
Topics covered in the February 2010 ISAC Update include:
- Don't Forget - National College Access Network Regional Meeting in Chicago on March 17
(sent February 24, 2010)
- Executive Briefing Conference Call - Alternative Funding Source for MAP - March 2, 2010
(sent February 23, 2010)
- MAP, IIA Program and MAPnet Webinar Offered on February 25
(sent February 22, 2010)
- Registration Still Open for Financial Aid 101 and Financial Aid 201 Workshops
(sent February 17, 2010)
- New Awards Announced for 2009-10 Teacher Education Scholarship Programs
(sent February 17, 2010)
- 2009-10 BIG Program Application Available March 1
(sent February 16, 2010)
- Join Us in Chicago on March 17th for a National College Access Network Regional Meeting
(sent February 11, 2010)
- Start-up for 2010-11 MAP and IIA Program Successfully Implemented
(sent February 10, 2010)
- 2010-11 MAP and IIA Program Start-up Scheduled for February 9th
(sent February 3, 2010)
- Schools Encouraged to Submit 2009-10 MAP Payment Requests
(sent February 1, 2010)
- Latest School DAAR Report Available
(sent February 3, 2010 and February 18, 2010)
- Electronic ISAC Update for January 2010 Available at College Zone
(sent February 1, 2010)
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