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VOL. 27, NO. 12IGSL, 12B
June 2010
Welcome to the June 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 June. 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
2010-11 Recompute Implementation for MAPnet, and Update on 2009-10 MAP Late Claims
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on June 30, 2010 The following message provides details regarding plans for reflecting recompute processing changes in the 2010-11 MAPnet system, as well as an explanation of how the anticipated fiscal year 2011 (FY2011) state budget may impact 2010-11 Monetary Award Program (MAP) awards. In addition, information related to the processing of 2009-10 MAP late claims is provided.
Recompute Implementation Schedule
Because the 2010-11 start-up formula has been approved as the recompute formula (see below "2010-11 MAP Awards" section for details), MAPnet award data does not need to be recalculated. The only change to 2010-11 MAPnet will be to remove the system's "forecast" functionality. ISAC anticipates that this update will be completed around noon (12 p.m.) on Wednesday,
July 7, 2010. In order to move this change into production, access to the 2010-11 MAPnet system will be unavailable starting at 5 p.m. on Tuesday, July 6, and continuing until further notice on July 7.
Once verification of the system update has been completed on July 7, we will send a message to the "MAPnet Users" e-Messaging subscription group to announce the availability of the 2010-11 MAPnet system. All 2010-11 Institutional Student Information Record (ISIR) data received from the Central Processing System (CPS) through (including) Tuesday, July 6 will be reflected in MAPnet on Wednesday, July 7.
2010-11 MAP Awards
As was announced in a June 21 e-Message, at its June 18 meeting the Commission approved using the FY2011 MAP start-up formula as the FY2011 recompute formula. If it is later determined necessary to reduce award amounts to stay within the appropriation, second- and third-term awards would be reduced accordingly (as outlined in Table 3 of Agenda Item 8 from the June 18 Agenda Book).
2010-11 IIA Program Awards Will Not Be Funded
Based on the anticipated FY2011 state budget, 2010-11 Silas Purnell Illinois Incentive for Access (IIA) Program awards will not be funded.
Resources Available Online
The 2010-11 MAP Formula section at collegezone.com has been updated to reflect the recompute process.
As always, refer to the MAP and IIA Program News areas for the most up-to-date information.
2009-10 MAP and IIA Updates
MAPnet System Not Impacted by Recompute
The 2009-10 MAPnet system will not be impacted by the implementation of 2010-11 recompute. Please note the following important dates related to the close-out of
2009-10 MAP and the IIA Program:
- all submissions of 2009-10 MAP payment requests (including initial claims and supplemental claims) must be received on or before July 1, 2010;
- the deadline to submit 2009-10 cancellations, refunds, or reductions via MAPnet for MAP and the IIA Program is 7 p.m. on July 28, 2010; and
- the MAPnet application for 2009-10 becomes available for historical view only on July 30, 2010.
Late Claims to be Processed on July 2
On Friday (July 2, 2010), 2009-10 MAP late claims will be processed (in date-received order), up to the available fund balance. Payment results will be available in MAPnet on Tuesday, July 6.
Important Information Regarding the Use of Mapping Your Future's Online Student Loan Counseling Effective July 1, 2010
Sent to Financial Aid administrators and FFELP Participants on June 22, 2010 The following information from Mapping Your Future is being shared to assist those colleges planning to utilize Mapping Your Future's Online Student Loan Counseling (OSLC) after the elimination of new Federal Family Education Loan Program (FFELP) loans, which takes effect on July 1, 2010.
With the elimination of new FFELP loans effective July 1, Mapping Your Future will change the name of some of its entrance counseling sessions. The following changes will be implemented by July 1 [the OSLC start page will include the information in parentheses]:
- Stafford entrance will become:
Direct Loan entrance (previously "Stafford entrance")
- Spanish Stafford entrance (Orientación de admisión del Préstamo Stafford) will become:
Orientación de admisión del Préstamo Directo (previamente "Orientación de admisión del Préstamo Stafford")
- Stafford and Perkins combined entrance will become:
Direct Loan and Perkins combined entrance (previously "Stafford and Perkins combined entrance")
- Grad PLUS entrance will become:
Direct PLUS entrance (previously "Grad PLUS entrance")
- Stafford and Grad PLUS combined entrance will become:
Direct Loan and Direct PLUS combined entrance (previously "Stafford and Grad PLUS combined entrance") In addition to changing these names, Mapping Your Future will update these same entrance counseling sessions so they relate only to the William D. Ford Federal Direct Loan Program.
Some colleges provide written instructions about how to complete OSLC to their students. Updated printable counseling instructions are now available for colleges at mappingyourfuture.org/oslc/instructionflyers.htm.
If colleges provide their own instructions or publish them on their Web site, the instructions need to be revised (effective July 1) as follows:
- Visit MappingYourFuture.org (no "www").
- Click on the "complete Online Student Loan Counseling" link on the left side of the page.
- Click on the __________ link. (Fill in the appropriate loan counseling type. For example, for the current Stafford entrance counseling, the revised instruction should be "Click on the 'Direct Loan entrance' link.")
- Complete the steps to select your school, read the content and answer questions, and complete the student form.
- Print the confirmation page (it has your rights and responsibilities) or note the confirmation number for your records.
Colleges will be able to continue using their existing supply of Mapping Your Future leaflets or instructions until July 1, 2011, since the former names will display on the counseling start page.
Mapping Your Future's exit counseling sessions will continue to meet requirements for both the FFELP and Direct Loan Program, though colleges need to take additional steps to fully meet regulations. More information about requirements is in the OSLC User's Guide at mappingyourfuture.org/oslc/ugregulations.htm.
Mapping Your Future strongly recommends colleges continue to use OSLC. This is especially true for exit counseling, to ensure students receive sufficient information about both loan programs before they enter repayment. See the Mapping Your Future OSLC resource page at mappingyourfuture.org/oslc/oslcresources.htm for more details, and share the information with your colleagues.
In addition to changing content, Mapping Your Future is working on a process to allow colleges to easily export Stafford and Grad PLUS exit data in the National Student Loan Data System (NSLDS) Exit Counseling Submittal Template. If colleges export records for Direct Loan borrowers, they then will be able to upload them to NSLDS and meet the requirements for sharing exit data with the Direct Loan program. Mapping Your Future plans to implement the process on July 1.
If you have questions, contact Mapping Your Future staff at feedback@mappingyourfuture.org.
Commission Meeting Summary: 2010-11 Budget Spending Priorities and MAP Recompute Formula
Sent to Financial Aid Directors and Financial Aid Administrators on June 21, 2010 At its June 18 meeting, the Illinois Student Assistance Commission (ISAC) approved the 2010-11 Monetary Award Program (MAP) recompute formula, along with overall spending priorities based on the anticipated fiscal year 2011 (FY11) budget.
FY11 Budget Spending Priorities (Agenda Item 7)
Prior to adjourning in late May, both chambers of the General Assembly approved a set of budget measures for the coming fiscal year (which has not yet been sent to the governor for action) authorizing a lump sum appropriation of $425,031,100 from the General Revenue Fund (GRF) for ISAC-administered scholarship and grant programs (this amount is at the same level as the final appropriation for FY10). In addition, an Emergency Budget Act was approved to give broad authority to the governor to manage the budget for FY11, including by establishing reserves.
The Commission approved allocating the lump sum appropriation as outlined in Table 1 of the agenda item, which reflects a March proposal by the governor to maintain level funding overall for ISAC-administered scholarship and grant programs. Although the total spent on such programs would be the same as that spent in FY10, this allocation increases the dollars dedicated to MAP [including dollars shifted from the Silas Purnell Illinois Incentive for Access (IIA) Program] and to the grant programs for dependents of police, fire, and correctional officers killed or disabled in the line of duty. The Commission also delegated authority to the Executive Director to make adjustments to this allocation during the fiscal year in order to optimize use of the appropriation.
2010-11 MAP Recompute Formula (Agenda Item 8)
Each year, ISAC is responsible for adopting an allocation formula for MAP. Typically, once the governor and General Assembly take action on the budget, the Commission revisits the MAP formula and, using previous claim data to predict future application volume, approves a "recompute" formula that is updated from the formula used at start-up. This year, however, has seen marked differences in applicant behavior (higher application volume and earlier application filing) that has impacted the reliability of using previous years' claim rates to predict current year claims. As a result, and working with the same appropriation as last year, staff sought approval for a new approach in allocating MAP dollars.
The Commission approved using the FY11 MAP start-up formula as the FY11 recompute formula. If it is later determined necessary to reduce award amounts to stay within the appropriation, second- and third-term awards would be reduced accordingly (as outlined in Table 3 of this agenda item).
Watch for Further Details
The 2010-11 MAP Formula section will soon be updated to reflect "recompute." You will be notified via this College Zone e-Messaging service when the budget for FY11 MAP is finalized, and when to expect system changes related to the recompute process.
Adopted Rules and Amendments (Agenda Item 4)
The Commission approved and adopted the omnibus rules and amendments, as modified during the rulemaking process, to be effective for the 2010-11 academic year. No substantive changes were made to the rules and amendments as originally published. The full text of the rules and amendments is available as 2010-11 Proposed Rules and Amendments in College Zone's e-Library.
Other Commission Meeting Agenda Items
Also addressed as part of the agenda were the following items. Additional information is provided in the June 18 Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission page at collegezone.com. Specific agenda items may also be accessed by clicking on the appropriate link(s) below.
- The Commission approved a proclamation recognizing and thanking students for their contributions to the restoration of FY10 MAP funding, and also urging continued attention to the value of need-based student financial assistance. (Agenda Item 6)
- The Commission approved the following agenda items related to the College Illinois!® 529 Prepaid Tuition Program:
- The Commission approved the execution and delivery of a Federal Rehabilitation Loans Lender Participation Agreement with LoanAmerica. (Agenda Item 16)
June Webinar includes Commission Meeting Report
A Webinar is scheduled for Tuesday, June 29 at 2 p.m. to provide a general program and operational update covering the following topics:
- 2009-10 Program News and Close-Out
- 2010-11 Program News
- Budget and Legislative Update
- Commission Meeting Report
- ISAC Rule Changes, effective July 1
- Federal Rules and Regulations Changes, effective July 1
2009-10 ING Grant Summer Term Payment Request Rosters Now Available via My Zone
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs and Business Officers on June 16, 2010
Summer Term Requests May Be Submitted via My Zone
Effective immediately, summer term payment requests for the 2009-10 Illinois National Guard (ING) Grant Program may be completed and submitted electronically to the Illinois Student Assistance Commission (ISAC) via the ING Grant Payment Roster system at My Zone.
With the July 1 final close-out date* for 2009-10 ISAC-administered gift assistance programs quickly approaching, schools are strongly encouraged to submit ING Grant payment claims for summer 2010 (including supplemental claims) as quickly as possible. Summer ING Grant claims are due to ISAC on or before Thursday, July 1, 2010.
Specific details regarding the ING Grant payment process are available at the following collegezone.com locations:
The ING Grant Payment Roster system is available via My Zone each Monday through Saturday from 7 a.m. until
7 p.m. (CT).
* For additional information regarding the 2009-10 close-out process, please refer to the May 24 e-Message.
Commission Meeting to be Held Friday, June 18
Sent to Financial Aid Directors and Financial Aid Administrators on June 14, 2010 The next regular meeting of the Illinois Student Assistance Commission (ISAC) is scheduled for 9 a.m. on Friday,
June 18. The meeting will be conducted via video conference, and may be accessed at the James R. Thompson Center in Chicago and the Central Management Services Capital City Center in Springfield.
Some of the items on the tentative agenda for the meeting are:
- Adopted Rules and Amendments
- FY2011 Budget Spending Priorities
- FY2011 Monetary Award Program (MAP) Recompute
- Rehabilitation Loan Purchase Agreement
- College Illinois!® 529 Prepaid Tuition Program Budget, Investment Issues and Central Marketing Agent
The Agenda Book, providing the complete agenda and item descriptions, is available via the 2010 Agenda Books page (located within the ISAC's Governing Board: The Commission section of the e-Library at collegezone.com). 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.
Returning Amounts Owed for 2009-10 MAP and IIA Program
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on June 8, 2010 The 2009-10 Monetary Award Program (MAP) third term priority payment claim deadline (June 1) and Silas Purnell Illinois Incentive for Access (IIA) Program priority payment claim deadline (January 10) have passed, and late payment requests for MAP and IIA that were received on or before June 1, 2010 have been released for payment. In order for ISAC to determine its ability to pay additional MAP and/or IIA Program late claims, a prompt return of funds is necessary.
You are encouraged to finalize reconciliation activities on your campus and return funds due to ISAC as soon as possible. In addition, letters were mailed to financial aid directors on June 7, 2010, detailing the "Due to ISAC" amount for each institution as of the Friday, June 4 MAP and IIA Program payment processing runs. Please review the letter and return the appropriate amount.
Return Amounts Due by June 30
The outstanding amount due for MAP and IIA, with proper documentation, should be returned to ISAC on or before June 30, 2010. Be sure to use the current version of the Gift Assistance Programs Check Return Form, which includes a field to specify the term(s) for which funds are being returned and is dated "4/06" in the footer. This document may be accessed within the Refunds and Unpaid Claims portion of the FAA Zone's Processes area at collegezone.com.
As a reminder, due to the offset process, do not send refund checks to ISAC without providing the appropriate adjustment data via MAPnet. Details regarding the use of MAPnet (including the User Guide) are provided within the MAPnet portion of the FAA Zone's Processes area.
Registration Still Open for Financial Aid 101 and Financial Aid 201 Workshops
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 June 8, 2010
There is still time to register for ISAC's Financial Aid 101 and 201 Workshops that begin next week. Following is a summary of the dates, locations and registration information:
Financial Aid 101 Workshops
This free, full-day (9 a.m. to 4 p.m.) Workshop is designed to introduce new financial aid professionals to financial aid concepts, programs and processes. Workshop dates are:
- Tuesday, June 15 at Prairie State College in Chicago Heights
- Tuesday, June 22 at ISAC's Springfield Office
For more details on the workshop agenda, visit the Partner Training section of the e-Library at collegezone.com.
Financial Aid 201 Workshops
ISAC's Financial Aid 201 Workshop is intended for more experienced financial aid administrators who are already familiar with the basics. This free, full-day (9 a.m. to 4 p.m.) workshop will focus on verification, professional judgment and preparing for audits and program reviews. For a detailed agenda, visit the Partner Training section of collegezone.com. The Workshop dates are:
- Wednesday, June 16 at Prairie State College in Chicago Heights
- Wednesday, June 23 at ISAC's Springfield Office
To register:
If you are interested in attending one of these Workshops, please send an e-mail to Kim Eck, Training Coordinator, at keck@isac.org indicating which session you would like to attend. Details regarding directions, parking, etc. will be provided to registered participants in an e-mail a few days prior to the workshop.
New State Legislative Update Posted
Sent to Financial Aid Directors and Financial Aid Administrators on June 3, 2010 A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated
June 2, 2010, discusses activity relating to higher education that took place in the spring session of the Illinois General Assembly, which is now adjourned. Legislators may return to the Capitol at a later date to attempt to reach agreement on a pension funding bill, but that date has not yet been determined.
As reported in the May 28th e-Message, the fiscal year 2011 (July 1, 2010 to June 30, 2011) operating budget for the State of Illinois was approved through several bills that a) appropriated more money than is actually expected to be available, and b) gives the governor primary responsibility for allocating those resources. Specifically, ISAC was appropriated the same amount as last fiscal year - $425 million - for our scholarship and grant programs. Allocation among the programs will be determined by the Commission. Both budget bills await the governor's signature.
Details about the status of other education-related legislation that, if enacted, would affect student financial aid and/or ISAC, are included in the Update. The bills are arranged in the following categories: Vetoed Bill, Bills That Have Passed Both Houses, Changes to Existing Programs, Proposed New Programs, Resolutions, and Bills That Have Not Been Approved.
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.
2009-10 MAP and IIA Late Claims Being Released for Payment
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on June 3, 2010 The Illinois Student Assistance Commission (ISAC) plans to release 2009-10 Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program claims, as outlined below.
Late Claims - Processed June 3
2009-10 MAP and IIA late claims (initial payment requests received at ISAC after the applicable priority claim deadline) will be released for payment according to the following schedule:
- On Thursday (June 3, 2010), late claims received on or before June 1, 2010 will be processed. Payment results will be available in MAPnet on Friday,
June 4, 2010. Records currently held as late claims are identified in MAPnet with a Reject Reason Code of "Y." Results for late payment requests that are processed will be available via MAPnet as outlined above. Payment results will appear on MAPnet's Payment Results reports, Student List Payment screen and the Payment Detail screen.
Once the above-referenced payment claims have been released for payment, all other initial payment requests will continue to be held as analysis for further payment releases continues. ISAC will continue to process adjustments to awards, including increases (through
July 1, 2010), reductions and cancellations.
Continued Need to Reconcile 2009-10 MAP and IIA Records
The need for colleges to reconcile 2009-10 MAP and IIA records continues. Please complete a full reconciliation of MAP and IIA disbursements and return any amounts due (with proper documentation) as soon as possible. Letters detailing the "Due to ISAC" amount as of June 4, 2010 will be mailed to financial aid directors early next week. Please review the letter and return the appropriate amount.
In addition, be sure to use the current version of the Gift Assistance Programs Check Return Form, which includes a field to specify the term(s) for which funds are being returned and is dated "4/06" in the footer. This document may be accessed within the Refunds and Unpaid Claims portion of the FAA Zone's Processes area at collegezone.com.
As a reminder, due to the offset process, do not send refund checks to ISAC without providing the appropriate adjustment data via MAPnet. Details regarding the use of MAPnet (including the User Guide) are provided within the MAPnet portion of the FAA Zone's Processes area.
Watch for Future Updates
Continue to monitor ISAC's established methods of communication (i.e., Program News, FAA Zone Message Board and e-Messages) for additional updates as they become available.
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on June 3, 2010 and June 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 May 2010 Available at College Zone
Sent on June 1, 2010 The May 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 May via College Zone's e-Messaging service.
Topics covered in the May 2010 ISAC Update include:
- FY2011 Budget Update
(sent May 28, 2010)
- Technical Problems with May 26 Webinar: Rescheduled for Thursday, May 27
(sent May 26, 2010)
- Important Dates, Including Close-out of 2009-10 Gift Assistance Programs
(sent May 24, 2010)
- 2010-11 Budget Packets Due June 1
(sent May 20, 2010)
- ISAC's FFELP Origination Close-out Plan: Initial Guarantee Requests Due on or before
June 25, 2010
(sent May 19, 2010)
- May and June Training Opportunities for FAAs - Workshops and Webinars
(sent May 14, 2010)
- New State Legislative Update Posted (May 13, 2010)
(sent May 13, 2010)
- Status Update - MAP Capital Investment Bond Proposal
(sent May 3, 2010)
- Latest School DAAR Report Available
(sent May 3, 2010 and May 18, 2010)
- Electronic ISAC Update for April 2010 Available at College Zone
(sent May 3, 2010)
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