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Volume 16, Number 4
April - June 2007
Welcome to the April - June 2007 electronic ISAC Communiqué, which is a quarterly compilation of e-Messages sent through College Zone’s e-Messaging service throughout April, May and June. This e-Messaging service has replaced both printed newsletters and special e-mail lists as ISAC’s primary means of communicating information to you.
The articles in this electronic Communiqué have been organized according to the Counselor Zone subscription groups to which the messages were distributed via College Zone’s e-Messaging service.
Questions?
Questions regarding information in this electronic Communiqué 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
Mark Your Calendar for Upcoming Important Dates
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on May 10, 2007. 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.
Holiday Schedules
May 28th: Memorial Day
Due to the Memorial Day holiday, ISAC offices will be closed on Monday, May 28th and will reopen on Tuesday, May 29th.
July 4th: Independence Day
Due to the Independence Day holiday, ISAC offices will be closed on Wednesday, July 4th and will reopen on Thursday, July 5th.
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 holidays, ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8 a.m. - 5 p.m. CT).
A complete listing of 2007 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar.
June 22nd: Commission Meeting
The next regularly scheduled meeting of the Illinois Student Assistance Commission will take place at Robert Morris College in Chicago. The Commission meeting Agenda Book, providing a full description of all agenda items, will be available via the ISAC's Governing Board: The Commission section of the e-Library five to seven days prior to the meeting. Agenda Books can also be accessed by selecting the link that appears beneath the "Resource Center" heading at the College Zone home page.
July 15th: 2007-08 Robert C. Byrd Honors Scholarship Eligibility Certification Forms Due
Remind your graduating Byrd Scholars that they must return the Eligibility Certification document to ISAC, so that their colleges will be able to request payment on their behalf for the fall term. Further details are provided at the Award Determination and Notification for the Byrd Scholarship page.
July 17th: Mapping Your Future Chat Event
On Tuesday, July 17, 2007, Mapping Your Future will offer a chat from 6 to 7 p.m. (CT), providing students with an opportunity to get answers to general financial aid, student loan, and money management questions.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Counselor Quick Links" menu that appears along the right margin of the Counselor Zone front page.
Students can use the link on the right side of the Student Zone front page.
Mapping Your Future can also be accessed directly at mapping-your-future.org.
The calendar of upcoming Chat Events - which includes the chat schedule through July 2007 - is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page.
Archived Questions and Answers from earlier chats can be accessed by visiting the section entitled "Chat Transcripts" at mapping-your-future.org/services/chatnight.htm.
The above is based on information from a Mapping Your Future E-Update. Mapping Your Future is a national collaborative public service project of the financial aid industry, including ISAC - bringing together the expertise of the industry to provide free college, career, financial aid, and financial literacy services for schools, students, and families.
August 24th: School-Generated Sixth Semester Rosters for HSSP Due
In order to prevent ISAC from generating a roster at a later date, school-generated sixth semester rosters must be submitted on or before Friday, August 24, 2007. As a reminder, sixth semester data is used for determining eligibility for the State Scholar, Merit Recognition Scholarship (MRS), and Robert C. Byrd Honors Scholarship programs [collectively referred to as the High School Scholarship Programs (HSSP)] for students who will be college freshmen during the 2008-09 academic year.
Further details are provided in an April 17, 2007 e-Message. Be sure to regularly visit the High School Scholarship Programs (HSSP) section of the ISAC Gift Assistance Programs area for future updates.
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New Cycle Underway for High School Scholarship Programs
Sent to Principals/Superintendents/Administrators and High School Counselors/Teachers on April 17, 2007. The following are upcoming important dates for the State Scholar, Merit Recognition Scholarship (MRS), and Robert C. Byrd Honors Scholarship programs [collectively referred to as the High School Scholarship Programs (HSSP)].
New Cycle for HSSP (Determining Eligibility for 2008-09 College Freshmen)
ISAC is currently accepting sixth semester data from high schools, which is used in determining eligibility for students who will be college freshmen during the 2008-09 academic year.
School-Generated Sixth Semester Rosters Accepted through August 24th
ISAC is currently accepting school-generated sixth semester rosters, and recently sent an overview letter that serves as a reminder of the delivery process and timeframes for the 2008-09 HSSP cycle. The letter announced that sixth semester data must be submitted to ISAC on or before August 24, 2007 to prevent ISAC from generating a roster at a later date. Special care should be taken to ensure that only sixth semester data is submitted (sixth semester is defined as the third semester prior to graduation).
As a reminder, sixth semester data is to be reported for only those students in the top 50% of the class. This means that, if a school ranks, rankings should be provided for the top 50% of students. If a school does not rank, unweighted grade point averages (GPAs) should be provided for the top 50% of students. In addition, all schools (both ranking and non-ranking) must provide unweighted GPAs for any student who has an Illinois Standard Test Score (ISTS) of 31 or greater (this data is used in the determination of Robert C. Byrd Honors Scholarship awards).
Instructions regarding school-generated sixth semester rosters, including required data and requested disqualification codes, are provided at the School-Generated Roster page at collegezone.com. Access this page from the Required Sixth Semester Data portion of the High School Scholarship Programs (HSSP) section that is located within the Counselor Zone's ISAC Gift Assistance Programs area.
HSSP Potential State Scholar Rosters Will Not Be Generated
A roster of potential awardees will not be sent in October 2007. Only finalists will be announced in late November 2007 for the 2008-09 academic year processing. The appeal process is available if a student has been excluded or was not a finalist and the high school feels the student should have been designated a State Scholar.
Current Cycle for HSSP (Determining Eligibility for 2007-08 College Freshmen)
By May 1st - 2007-08 Robert C. Byrd Honors Scholars will be announced.
At this time, we do not anticipate that the MRS Program will be funded. Consequently, we are not currently planning to generate any potential rosters or award notifications for the 2007-08 MRS Program.
Look for further information regarding anticipated HSSP activities by frequently reviewing the Program News section of the HSSP area, and also watch for future e-Messages.
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Comparing Financial Aid Packages
Sent to High School Counselors/Teachers and College Admission Counselors on April 5, 2007. Are your college-bound students having difficulty deciding which college is right?
Choosing which college to attend can be a very exciting, yet stressful thing to do. The student has applied for admission and received the admission notices, and now the family is dealing with the scariest question: "How are we going to pay for this?"
Encourage your families not to rule out any college option simply because of the initial price tag. They may be surprised to find that a more expensive college may offer a financial aid package that makes their college costs comparable to a less expensive one. Once the financial aid application process has been completed, the financial aid administrators at the colleges the student is considering will "package" all available financial aid options. The package will include a mix of several different types of financial aid, such as grants, scholarships, work-study and student loans, and will typically be presented in the form of an award letter. Families can use the "Financial Aid Package Comparison Worksheet" to get organized and help decipher award letters and compare aid packages. The Worksheet has been added to several areas of the Student and Parent Zones of collegezone.com, and is also available for Counselors in the Job Aids & Reference Materials area (#12) of the e-Library.
When choosing a college, families need to be informed consumers. As each award letter is reviewed, suggest they consider the following questions:
- What is the estimated cost of attendance?
- Which costs are direct (tuition, fees, books) and which costs are indirect (personal living expenses, food, transportation)?
- Will any or part of the financial aid received have to be repaid? Loans, of course, will need to be repaid and some other types of aid may have associated repayment obligations.
- Was financial need (cost of attendance - expected family contribution = financial need) met by the college?
- How does the projected out-of-pocket cost compare to the cost of attendance?
- Financially, is the college the right fit for the family?
Cost is only one of many factors to consider when deciding which college to attend. An informed decision is the best decision.
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Mark Your Calendar for Upcoming Important Dates
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on April 3, 2007. 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.
April 10th: Mapping Your Future Chat Event
On Tuesday, April 10, 2007, Mapping Your Future will offer a chat from 6 to 7 p.m. (CT), providing students with an opportunity to get answers to general financial aid, student loan, and money management questions.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Counselor Quick Links" menu that appears along the right margin of the Counselor Zone front page.
Students can use the link on the right side of the Student Zone front page.
Mapping Your Future can also be accessed directly at mapping-your-future.org.
The calendar of upcoming Chat Events - which includes the chat schedule through July 2007 - is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page.
Archived Questions and Answers from earlier chats can be accessed by visiting the section entitled "Chat Transcripts" at mapping-your-future.org/services/chatnight.htm.
The above is based on information from a Mapping Your Future E-Update. Mapping Your Future is a national collaborative public service project of the financial aid industry, including ISAC - bringing together the expertise of the industry to provide free college, career, financial aid, and financial literacy services for schools, students, and families.
During Month of April: Details Will Be Provided for New HSSP Cycle
During the month of April, ISAC will announce important dates for the new processing cycle of the State Scholar, Merit Recognition Scholarship (MRS), and Robert C. Byrd Honors Scholarship programs [collectively referred to as the High School Scholarship Programs (HSSP)]. ISAC will soon begin accepting sixth semester data from high schools, which is used in determining eligibility for students who will be college freshmen during the 2008-09 academic year.
As a reminder, sixth semester data is to be reported for only those students in the top 50% of the class. This means that, if a school ranks, rankings should be provided for the top 50% of students. If a school does not rank, unweighted grade point averages (GPAs) should be provided for the top 50% of students. In addition, all schools (both ranking and non-ranking) should provide unweighted GPAs for any student who is not in the top 50% of the class but has an Illinois Standard Test Score (ISTS) of 31 or greater (this data is used in the determination of Robert C. Byrd Honors Scholarship awards).
Visit the High School Scholarship Programs (HSSP) section of the ISAC Gift Assistance Programs area for future updates.
By May 1st: 2007-08 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 2007-08 new and renewal awards.
May 28th: Memorial Day
Due to the Memorial Day holiday, ISAC offices will be closed on Monday, May 28th and will reopen on Tuesday, May 29th.
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's School Services Department. With the exception of holidays, ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8 a.m. - 5 p.m. CT).
A complete listing of 2007 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar.
June 22nd: Commission Meeting
The next regularly scheduled meeting of the Illinois Student Assistance Commission will take place at Robert Morris College in Chicago. The Commission meeting Agenda Book, providing a full description of all agenda items, will be available via the ISAC's Governing Board: The Commission section of the e-Library five to seven days prior to the meeting. Agenda Books can also be accessed by selecting the link that appears beneath the "Resource Center" heading at the College Zone home page.
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High School Counselors/Teachers
Money Smart Week Chicago: April 30 - May 5, 2007
Sent on April 16, 2007. The Illinois Student Assistance Commission (ISAC) is partnering with The Federal Reserve Bank of Chicago to promote personal financial literacy through its sixth annual Money Smart Week Chicago. Taking place April 30th through May 5th, this week-long event consists of focused presentations by community groups, financial institutions, government agencies, educational organizations, and financial experts - all designed to help consumers learn to better manage their personal finances.
The Financial Literacy Department at ISAC has long sponsored student educational programs regarding consumerism. As a partner in this activity, we are asking that you inform your high school students about Money Smart Week Chicago. Encourage them to review the 2007 Chicago Money Smart Week calendar of events to search over 300 financial education events by date, topic, or neighborhood. The calendar may be accessed by visiting chicagofed.org/moneysmart, clicking on the Chicago option, and then choosing the online calendar.
During Money Smart Week Chicago, ISAC is collaborating with the City Colleges of Chicago to promote "College Financial Aid 101" sessions for college-bound students. ISAC will present information regarding college tuition management, including grants, scholarships, student loans, College Illinois! (529 pre-paid tuition plan), Illinois Designated Account Purchase Program (IDAPP) loan consolidation, and student loan default prevention programs and services. Supplemental materials, containing valuable information, will be available. Dates and times for the "College Financial Aid 101" sessions are listed below, as well as at the online calendar:
- Monday, April 30, Olive-Harvey College, 11 a.m. and 6 p.m.
- Tuesday, May 1, Harold Washington College, 1 p.m.
- Tuesday, May 1, Richard J. Daley College, 3 p.m.
- Wednesday, May 2, Malcolm X College, 12 p.m.
- Friday, May 4, Kennedy-King College, 1 p.m.
The information being provided during Money Smart Week Chicago is extremely timely for college-bound high school students and their families, considering the rising cost of college tuition and the need to supplement gift aid with student loans. ISAC's default prevention and financial literacy information, as well as other outreach services and activities, are funded through ISAC's role as a federal student loan guarantor and secondary student loan market. ISAC receives no state funding for administration, operations, or outreach.
If you need further information from ISAC, please contact Patrick Elliott by sending an e-mail message to pelliott@isac.org or calling 800.899.ISAC (4722), extension 3827. You may also visit us at collegezone.com.
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ISAC Communiqué
New ISAC Communiqué Available at College Zone
Sent on April 3, 2007
The latest “electronic-only” edition of the ISAC Communiqué is now available for your review within the ISAC Publications section of College Zone's e-Library. This electronic version of ISAC's newsletter is a quarterly compilation of information provided to Counselor Zone partners via College Zone's e-Messaging service during the months of January, February and March.
Topics covered in this electronic Communiqué include:
- Narrated Financial Aid PowerPoint Available at collegezone.com
- New Test Preparation Tools in IllinoisMentor
- Mark Your Calendar for Upcoming Important Dates
- Introducing: "Understanding Financial Aid Packaging" Sessions - Register Now
- Still Time to Register for Hands-On IllinoisMentor Training Sessions
- Register Today for IllinoisMentor Training Curriculum
- ISAC Executive Director Responds to Chicago Tribune Article
- Special Message from ISAC's Executive Director
- Summary of January 26th Commission Meeting
- New ISAC Communiqué Available at College Zone
Electronic newsletters are available at the beginning of each quarter (January, April, July, and October), and are the compilation of information announced via an e-Message to any of the Counselor Zone subscription groups during the previous quarter.
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