 |
VOL. 27, NO. 9L
March 2010
Welcome to the March 2010 ISAC Update for lenders and servicers, which 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 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.
NOTE: The ISAC Update for lenders and servicers is moving to a quarterly (rather than monthly) schedule. This means that future electronic newsletters will be available at the beginning of each quarter (January, April, July, and October), and will be the compilation of information announced via an e-Message to any of the Lender Zone subscription groups during the previous quarter. The next edition of the ISAC Update for lenders and servicers will be available in
July 2010.
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 March 26 Commission Meeting
Sent to Marketing News, Announcements and Operational Updates, Announcements 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 Marketing News, Announcements and Operational Updates, Announcements 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 Lender 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.
Mark Your Calendar for Upcoming Important Dates
Sent to Marketing News, Announcements and Operational Updates, Announcements on March 22, 2010
The Illinois Student Assistance Commission (ISAC) would like to make you aware of the following information, which may be of interest to you and/or your student loan borrowers.
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.
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.
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).
Commission Meeting to be Held Friday, March 26
Sent to Marketing News, Announcements and Operational Updates, Announcements 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.
Return to Top
MARKETING NEWS, ANNOUNCEMENTS
Join ISAC in Springfield for "Making Connections: u r ILASFAA"
Sent 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.
Return to Top
ISAC UPDATE
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 lenders and servicers in February via College Zone's e-Messaging service.
Topics covered in the February 2010 ISAC Update include:
- Electronic ISAC Update for January 2010 Available at College Zone
(sent February 1, 2010)
Return to Top
|
|
|
|
