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VOL. 26, NO. 5IGSL, 5B
November 2008
Welcome to the November 2008 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 November. 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
Commission Meeting Summary Default Fee Payment Policy Unchanged
Sent to Financial Aid Directors and Financial Aid Administrators on November 24, 2008
At its November 21st meeting, the Illinois Student Assistance Commission (ISAC) took action on several items as part of the agenda.
Continued Partial Payment of Federal Default Fee for 2009-10
The Commission approved the continued payment of 25% of the federal default fee for students borrowing through the Federal Stafford (subsidized and unsubsidized) and Federal Graduate PLUS Loan Programs. The default fee paid on behalf of parents borrowing Federal PLUS loans remains at 0%. It is estimated that ISAC will waive $1.2 million of federal default fees for student borrowers in the upcoming academic year.
Procedures for lender remittance of the remaining portion of the federal default fees to ISAC remain the same as are currently being used.
Other Action Items Approved
The following items were also approved at the meeting:
- Kendall College application for participation in ISAC Gift Assistance Programs (Agenda Item #9)
- Financing for College Illinois!(SM) Capstone Loan Program
- IDAPP Investment Policy
Information Items
These items were presented to the Commissioners for informational purposes (no action was required):
- Changes in Affordability of a College Education for Illinois Community College and Public University Students FY1997 - FY2007 (Agenda Item #7)
- FY2010 Grant Program Budget Issues
(Agenda Item #8)
Next Meeting
The next meeting is scheduled for Friday,
January 30, 2009, on the campus of Benedictine University in Lisle.
Financial Aid 101: Building a Solid Foundation December 2008 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
November 20, 2008 The Illinois Student Assistance Commission will offer its Financial Aid 101: Building a Solid Foundation Workshop twice in December. The dates and locations are:
- Wednesday, December 10 in ISAC's Deerfield Office, Room 3030, and
- Friday, December 12 in ISAC's Springfield Office,
3rd Floor Conference Room. 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 and help them develop a solid foundation on which to build their careers. The workshop will provide an overview of the following topics:
- basic financial aid principles,
- the Free Application for Federal Student Aid (FAFSA),
- need analysis and the Expected Family Contribution (EFC),
- federal financial aid programs,
- student loan basics, and
- ISAC's scholarship and grant programs.
For more details, visit the Partner Training section of the e-Library at collegezone.com.
If you are interested in attending one of these Financial Aid 101 Workshops, please send an e-mail to Kim Eck, Training Coordinator, at keck@isac.org indicating which session you would like to attend. Seating at each site is limited, so please register early.
Details regarding directions, parking, etc. will be provided to registered participants via e-mail a few days prior to the workshop.
Delay in Payments from State Comptroller's Office
Sent to Financial Aid Directors, Financial Aid Administrators and Business Officers on Nvoember 19, 2008 So that college administrators may plan accordingly, the Illinois Student Assistance Commission (ISAC) would like to take this opportunity to provide an update regarding the estimated timeframe for payments being made by the State Comptroller's Office.
Benefits from ISAC-administered gift assistance programs are paid directly to the approved institution of record (college) that certifies an applicant's eligibility. ISAC authorizes a voucher in the amount of the college's payment claim, and submits it to the State Comptroller's Office which, in turn, issues payment to the institution. College administrators may track payments via the State Comptroller's Web site.
A Vendor/Payee Alert that is posted at the State Comptroller's Web site indicates that current delays affecting payments out of the state's General Revenue Fund (GRF) - which include ISAC-administered gift assistance programs - are expected to continue. These delays are in excess of 60 business days, and are expected to increase over the next several months. We encourage our partners to periodically check for updated Vendor/Payee Alerts, which can be accessed via the "Vendor Payments" area of the State Comptroller's Web site.
November Webinar to Feature Illinois Special Education Teacher Tuition Waiver (SETTW) Program
Sent to Financial Aid Directors and Financial Aid Administrators on November 17, 2008 The Illinois Student Assistance Commission will present a Webinar on the Illinois Special Education Teacher Tuition Waiver (SETTW) Program on Tuesday, November 25th from 1 - 2 p.m. The session will begin with an overview of the SETTW program, followed by more specific information on administering it. Time will be allotted for questions. If you have specific questions that you would like the session to address, please send them to Kim Eck at keck@isac.org by Monday, November 24th.
To participate in the Webinar: access the PowerPoint presentation on the Partner Training page in the e-Library at collegezone.com (it will be posted on the morning of November 25th), then dial 877.873.8017 and enter code 8324962# to access the audio portion.
Commission Meeting to be Held Friday, November 21, 2008
Sent to Financial Aid Directors and Financial Aid Administrators on November 14, 2008 The next regular meeting of the Illinois Student Assistance Commission is scheduled for 9 a.m. on Friday, November 21st at the National-Louis University North Shore Campus in Skokie.
The tentative agenda for the meeting includes:
- Partial Payment of Federal Default Fee for 2009-10 Academic Year
- Adopted Rules Amendments
- Changes In Affordability of a College Education for Illinois Community College and Public University Students FY1997 – FY2007
- Discussion of FY2010 Grant Program Budget Issues
- Institutional Application to Participate in ISAC Gift Assistance Programs (Kendall College)
- First Quarter FY09 Financials
- Financing for Academic Year 2010/Financing for College Illinois!(SM) Capstone Loan Program
- College Illinois!(SM) Prepaid Tuition Program Investment Performance and Marketing Report
- Illinois Designated Account Purchase Program (IDAPP) Investment Policy
Results for items requiring action from the Commission will be available following the meeting via the 2008 Agenda Books page, which is located within the ISAC's Governing Board: The Commission section of the e-Library at collegezone.com.
There are no plans for a conference call briefing following this meeting.
ING Grant Payment Request Rosters Now Available at My Zone for 2008-09 Payment Processing
Sent to Financial Aid Directors and Public Schools - Participating in the ING Grant and IVG Programs on November 4, 2008 We are pleased to announce the availability of Illinois National Guard (ING) Grant Payment Request Rosters at My Zone, the new functionality that allows colleges to submit ING Grant payment requests (initial, supplemental and out-of-district) via the My Zone portal. Effective for 2008-09 processing, this new My Zone function replaces the paper roster process with a secure, electronic method of transmitting claims data for the ING Grant Program.
The content and format of the online payment request rosters are similar to the printed versions, with a few minor changes. Specific details regarding the online rosters are provided at the ING Payment Roster page at My Zone.
Reminder to Submit Payment Requests for Each Term
Payment request rosters will be made available at My Zone after the application deadline has passed for each term. Colleges will 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, electronic payment requests must be submitted via My Zone on or before the due date for each term, as indicated on the payment request roster.
The system is available each Monday through Saturday from 7 a.m. until 7 p.m. (CT).
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
Individuals who have been accessing ING Grant eligibility data in My Zone can now view the ING Grant payment screens online. It's important to note, however, that 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.
Benefits of Electronic Process
ING Grant Payment Request Rosters at My Zone streamlines the initial, subsequent, and out-of-district payment request process by allowing colleges to receive and submit payment request rosters electronically via My Zone, reducing the number of rosters that are printed and mailed each year and resulting in both financial and environmental benefits.
In addition, a cumulative list of payment request rosters is available for the entire fiscal year - again, minimizing the need to print and retain hard copies of rosters.
Watch for future announcements regarding additional enhancements to the ING Grant area at My Zone. The payment results phase of the online ING Grant payment process is currently under development, and colleges will be notified via the e-Messaging service when that functionality is available.
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 new system, they should contact ISAC's School Services Department as indicated below.
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FINANCIAL AID ADMINISTRATORS
College Awareness and Preparation Workshop for Site Coordinators
Sent on November 12, 2008 The College Awareness and Preparation (CAP) committee invites you to a free workshop that will provide information on strategies to help ensure your target population is in attendance at your outreach event, with particular emphasis on FAFSA Completion Workshops. Real research data will be used to communicate effective strategies for reaching your audience, including the proper use of marketing materials, value messages, and the always-important reason that outreach is necessary. We will also have an open forum discussion where we will invite you to share your success stories with fellow attendees. Additionally, a short overview of the 2009-10 FAFSA highlighting the changes made to the form for the upcoming year will be provided. The training will be provided by the Illinois Student Assistance Commission and will offer 3.5 CPDUs for attending counselors.
Registration the day of the workshop begins at 8:30 a.m., with the session itself starting at 9 a.m. There will be a working lunch at 11:30 a.m., and the session will conclude at 12:30 p.m.
Dates and Locations:
November 19, 2008
John A. Logan Community College
Room: TBD
November 20, 2008
Loyola University Chicago - Lake Shore Campus
Room: Coffey Hall, McCormick Lounge
December 3, 2008
Carl Sandburg College
Room: CSC Boardroom E200
To make your reservation to attend one of the workshops and/or register your outreach event as part of the statewide CAP outreach initiative, please print and complete the CAP Event Registration form. Follow the instructions provided on the form for submitting your registration.
You can also register to attend a workshop by e-mailing or calling Julie Henschel at jhenschel@isac.org - 800.899.4722 ext. 3825 as soon as possible, but no later than 2 days before the scheduled date. We look forward to seeing you there!
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on November 10, 2008 and November 18, 2008
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 October 2008 Available at College Zone
Sent on November 3, 2008
The October 2008 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 October via College Zone's e-Messaging service.
Topics covered in the October 2008 ISAC Update include:
- Coming Soon ... ING Grant Payment Request Rosters at My Zone
(sent October 31, 2008)
- TESP Payment Authorization Reports Available at My Zone
(sent October 28, 2008)
- October Webinar to Feature Illinois National Guard (ING) Grant Program
(sent October 13, 2008)
- Form Must Be Completed to Ensure Payment of Added ING Fees
(sent October 9, 2008)
- Announcing ... TESP Payment Authorization in My Zone
(sent October 8, 2008)
- Mapping Your Future's Online Student Loan Counseling Offers TEACH Grant Initial and Subsequent Counseling
(sent October 8, 2008)
- Mark Your Calendar for Upcoming Important Dates
(sent October 6, 2008)
- Latest School DAAR Report Available
(sent October 6, 2008 and October 20, 2008)
- Electronic ISAC Update for September 2008 Available at College Zone
(sent October 1, 2008)
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