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 Welcome to the FAA Zone
At your fingertips, Financial Aid Administrators, Business Officers, and other school personnel have access to a centralized source of information and financial aid guidance concerning ISAC's programs, processes, and resources.
FAA Message Board
The FAA Message Board is updated each week. New messages for the week are identified by the  Items under the More section, located toward the bottom of the page, provide links to information on topics that were recently listed on this Message Board.
A January 31 e-Message announces training opportunities for financial aid administrators that will be offered by ISAC during the months of February and March. Included are a February webinar [focusing on upgrades being made to MAPnet and 2012-13 Monetary Award Program (MAP) Start-up], Financial Aid 101 Workshops, and Financial Aid 201 Workshops. Specific details - such as dates, locations and how to register/participate - are provided in the e-Message.
The FY13 (2012-13) Monetary Award Program (MAP) start-up formula was approved at the January 27 meeting of the Illinois Student Assistance Commission. Details regarding the FY13 MAP start-up formula are provided in Agenda Item 7, which is available to download, view and/or print via the ISAC's Governing Board: The Commission area at collegeillinois.org.
As a reminder, a January 20 e-Message provides preliminary information regarding an updated version of MAPnet that will launch with the implementation of 2012-13 MAP start-up. In order to allow colleges to prepare for 2012-13 processing, the message highlights changes that will be part of the new MAPnet system. In addition, the 2012-13 MAP 160 Byte File Layout Specifications document is available to download, view and/or print.
A January 27 news release announces that Mapping Your Future now offers 2012-13 verification worksheets to assist colleges in collecting the information they need from students in order to complete the financial aid verification process. College can choose from three separate worksheets: family information, tax information, or family and tax information.
The Commission Meeting Schedule page at collegeillinois.org reflects the projected meeting schedule through November 2012. A listing of specific agenda items will be available prior to each meeting via the 2012 Agenda Books page, which is located within the ISAC's Governing Board: The Commission area.
A January 2012 Dear Colleague Letter (DCL GEN-12-01) from the U.S. Department of Education (ED) provides information on changes made to Title IV federal student assistance programs by the Consolidated Appropriations Act, 2012 (Public Law 112-74). Among the topics covered are the automatic zero EFC income threshold, ability-to-benefit, Federal Pell Grants, and the grace period interest subsidy on Direct Subsidized Loans. Included in the electronic announcement are the effective dates for the new changes.
A January 20 electronic announcement from the U.S. Department of Education (ED) indicates that ED began sending 2012-13 Renewal Free Application for Federal Student Aid (FAFSA) reminder notifications to students on January 18, and will continue to do so through
February 10. Further details are provided in the electronic announcement.
Remind your students who plan to teach in Illinois after completing their college degree that March 1, 2012 is the priority consideration date to apply for the 2012-13 Minority Teachers of Illinois (MTI) Scholarship and Illinois Special Education Teacher Tuition Waiver (SETTW) programs. Students may access the applications for each of these programs at the collegeillinois.org website.
Attention Illinois 2- and 4-year public colleges: remind your current-term students who are Illinois National Guard members that the interactive application for the 2011-12 Illinois National Guard (ING) Grant Program, used to apply for the 2012 spring term (or spring and summer terms), is due to ISAC on or before March 1, 2012. Applications received after March 1 will be considered for summer term only awards.
Remind your students that March 1, 2012 is the spring- and summer-term award priority application consideration date for the 2011-12 Grant Programs for Dependents of Police, Fire or Correctional Officers. Applications received after March 1 will be considered for summer term only awards. Students may access the application for these programs at the collegeillinois.org website.
A January 12, 2012 Dear Colleague Letter (DCL P-12-01) provides schools with the 2012-13 Federal Pell Grant Program Payment and Disbursement Schedules. The maximum Pell award has not changed ($5,550). However, due to a recent statutory change related to minimum awards, the maximum Pell Grant eligible expected family contribution (EFC) for the 2012-13 award year is 4995 (which is less than the 5273 EFC maximum for the 2011-12 award year).
A January 18 electronic announcement from the U.S. Department of Education (ED) announces implementation of the online application period for the Special Direct Consolidation Loan opportunity that is being offered through the Direct Loan Program. The four federal loan servicers will be contacting all potentially eligible borrowers about Special Direct Consolidation Loans, which will be available through June 30, 2012. For further information regarding Special Direct Consolidation Loans, refer to earlier electronic announcements (dated
January 13, 2012 and December 28, 2011), and follow the corresponding links under the “More” section at the bottom of this page.
The proposed omnibus rules and amendments for ISAC-administered programs for the 2012-13 academic year, as published in the January 13, 2012 Illinois Register, can be accessed from the e-Library's ISAC Administrative Rules page at collegeillinois.org. Also included are emergency rules for the John R. Justice Student Loan Repayment Program. In addition, a summary of the proposed omnibus rules and amendments may be accessed from the same page. Note that, while the Illinois Register cover and Table of Contents list proposed changes for other agencies, only information pertaining to ISAC-administered programs is included in the e-Library posting. Details regarding the public comment period (which ends on Monday,
February 27, 2012) are also included. The 2012-13 proposed omnibus rules and amendments have an anticipated effective date of July 1, 2012.
A January 10 e-Message announces that the 2011-12 MAPnet system has been updated to allow for the submission of second- and third-term Monetary Award Program (MAP) claims.
In addition, the message provides information regarding the release of MAP grants from suspended status for students whose Free Application for Federal Student Aid (FAFSA) receipt dates were March 26, 2011 through (and including) April 8, 2011. Colleges are encouraged to identify those students who are impacted by the limited release of 2011-12 suspended MAP awards and submit their payment requests (including for the first term) as soon as possible.
Also, ISAC is allowing MAP payment processing for initial first term claims received through April 1, 2012.
The "Important Message" documents (available online for both colleges and students) will continue to be updated, if needed, as new information becomes available throughout the year.
Remind your students that the 2012-13 Free Application for Federal Student Aid (FAFSA) is available online, and should be completed as early as possible. Although some taxpayers may need to delay the filing of their tax returns, families in this situation should be encouraged to complete the FAFSA with estimated tax information so as not to delay its filing. Several resources are available to assist students with the financial aid application process, including an Outreach Activities Calendar that lists FAFSA completion seminars and other events taking place across the State of Illinois and FAFSA on the Web Worksheets (in English and Spanish) that can help streamline the FAFSA process.
The Central Processing System (CPS) has begun processing 2012-13 FAFSA data. Details regarding the application cycle, which may be helpful as you assist students with the financial aid process, are provided within the 2012-13 FAFSA Completion section of the e-Library at collegeillinois.org.
More
2012-13 State Scholar Announcements
“Pay-As-You-Earn” Proposal (at Student Aid on the Web)
Information for FAAs and Students on Special Direct Consolidation Loans
2011-12 ISAC Administrative Rules
State Legislative Update
Outreach Calendar/Events
FAFSA Completion Information
Important Reminders calendar
Most Recent ISAC Update:
January 2012
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