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VOL. 27, NO. 1IGSL, 1B
July 2009
Welcome to the July 2009 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 July. 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
2009-10 Recompute Formula
To Be Reflected In MAPnet On August 5th
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Offices on July 30, 2009 The following message provides details regarding plans for implementing the recompute process in the 2009-10 MAPnet system, as well as an explanation of how the fiscal year 2010 (FY2010) state budget impacts 2009-10 Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program awards.
Recompute Implementation Schedule
ISAC anticipates that the 2009-10 MAPnet system will reflect all system changes related to the recompute process around noon (12 p.m.) on Wednesday, August 5, 2009. As the necessary changes are moved into production, access to the 2009-10 MAPnet system will be unavailable starting at 5 p.m. on Friday, July 31st, and continuing until further notice on August 5th
(2008-09 MAPnet is currently unavailable and will become available for only Historical View on Friday, July 31, 2009).
Once verification of the system changes has been completed on August 5th, we will send a message to the "MAPnet Users" e-Messaging subscription group to announce the availability of the 2009-10 MAPnet system. All 2009-10 Institutional Student Information Record (ISIR) data received from the Central Processing System (CPS) between (including) Friday, July 31st and Wednesday, August 5th will be reflected in MAPnet on Thursday, August 6th.
2009-10 MAP Awards
As was announced in a July 16th e-Message, the FY2010 state budget that was agreed upon by the Governor and state legislators significantly reduces the amount of funds available for 2009-10 MAP awards. As a result, eligible students will receive one-half of the annual award that was announced at start-up. In an effort to provide students and their families with as much time as possible to seek alternate means of funding their education, all available MAP dollars will be "front loaded" to pay tuition and mandatory fees for the first half of the academic year.
The 2009-10 recompute formula uses the start-up formula components, with awards being announced (in general)* as described below.
- The recompute annual full-time award will be one-half of the announced start-up full-time award (rounded to the nearest dollar).
- For students attending semester schools, all available dollars will be announced for the first (fall) semester. The second (spring) semester award will be $0.
- For students attending quarter schools:
- For the first (fall) quarter, the award will be the same as was announced at start-up.
- For the second (winter) quarter, the award will be the difference between the recompute annual full-time award and the first quarter award.
- For the third (spring) quarter, the award will be $0.
For example:
A student at a semester school, for whom an annual award of $4,968 was announced at start-up, would now receive $2,484 for the first term and $0 for the second term.
A student at a quarter school, for whom an annual award of $4,968 was announced at start-up, would now receive $1,656 for the first term, $828 for the second term, and $0 for the third term.
* For specific details on how term award amounts are calculated, refer to the Calculate the 2009-10 MAP Term Eligible Amount resource at collegezone.com.
Further Details
Please note the following:
- MAPnet screens will display the 2009-10 announced awards as described above.
- The MAPnet Eligibility Status File extract file will display one-half of the annual award that was announced at start-up in the Original Yearly Eligible Amount field (file position 150 - 155). For example, if the annual award amount at start-up was $4,968 then the amount that will appear after recompute will be $2,484.
- Actual payment amounts will be determined by the number of hours for which the student is enrolled.
- MAP Paid Credit Hours (MPCH) will be assessed in full for each term paid.
- MPCH limits remain applicable.
2009-10 IIA Program Awards
Based on the FY2010 state budget, students who are eligible for the 2009-10 IIA Program will receive $250 for the fall term only. All data will display in MAPnet in the usual manner.
Resources Available Online
The 2009-10 MAP Formula section at collegezone.com, which includes Hand Calculation Forms, has been updated based on the recompute process.
As always, refer to the MAP and IIA Program News areas for the most up-to-date information.
July Webinar to Focus on Monetary Award Program and Silas Purnell Illinois Incentive for Access Program
Sent to Financial Aid Directors, Financial Aid Administrators, Public School - Participating in the ING Grant and IVG Programs, MAPnet Users and Business Officers on July 23, 2009 The Illinois Student Assistance Commission (ISAC) will present a Webinar on the Monetary Award Program (MAP) and the Silas Purnell Illinois Incentive for Access (IIA) Program on Thursday, July 30th rom 1 - 2 p.m.
The session will include an overview of the features and benefits of the programs, as well as guidance on administering them for the 2009-10 academic year. Topics to be covered include: the 2009-10 appropriation and recompute formula, residency and verification requirements, the payment claim process and payment reconciliation.
To participate: access the PowerPoint presentation on the Partner Training page in the e-Library at collegezone.com (it will be posted the morning of July 30th); then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
2008-09 MAP Claims & Close-out - Return MAP and IIA Program "Due to ISAC" Amounts by August 17th
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on July 20, 2009 2008-09 MAP Claims Released for Payment
2008-09 Monetary Award Program (MAP) claim requests that were received at ISAC on or before Wednesday,
July 1, 2009 have been released for payment and processed, with all results available via MAPnet as of today (Monday, July 20, 2009).
No additional 2008-09 MAP claims will be released for payment.
Close-out Reminders
Friday, July 24th is the last date for cancellations, refunds, or reductions to be submitted via MAPnet. Submissions will be accepted until the site becomes unavailable at 7 p.m.
The MAPnet application for 2008-09 becomes available for only historical view on July 31, 2009.
Return MAP and IIA "Due to ISAC" Amounts
by August 17th
Letters are being mailed to financial aid directors today (July 20th), detailing the “Due to ISAC” amount for MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program. The outstanding amount due for both programs, with proper documentation, should be returned to ISAC on or before Monday, August 17, 2009. 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 are available at the 2008-09 Processing and User Guide area, which is located within the MAPnet portion of the FAA Zone's Processes area.
ISAC Military Benefit Programs Update
Sent to Financial Aid Directors and Public Schools - Participating in the ING Grant and IVG Programs on July 17, 2009 The following are updates regarding military benefit programs administered by the Illinois Student Assistance Commission (ISAC).
2008-09 ILLINOIS NATIONAL GUARD (ING) GRANT SUMMER TERM PRORATION
Following the priorities by which claims are to be paid, ISAC has paid 2008-09 timely (in-district and out-of-district) ING Grant payment requests for first, second and third (i.e., fall, winter and spring) terms at 100% of the claims. Not enough funds remain to pay the timely summer term claims at 100%. Therefore, these claims must be prorated at 38.90% (i.e., $38.90 will be paid for every $100.00 of eligibility).
For the 2008-09 academic year, the institution will be responsible for a percentage (61.10%) of each eligible student's ING Grant timely summer term award, and will be responsible for 100% of all eligible students' late claims (i.e., claims that were submitted after the due dates for each term's claims).
2009-10 ONLINE PROCESSING CYCLE
ISAC is pleased to announce that the online processing cycle at My Zone has begun for the 2009-10 Illinois Veteran Grant (IVG) and ING Grant programs.
2009-10 IVG Online Payment Available
IVG Online Payment is now available for the 2009-10 processing cycle, allowing colleges to submit IVG Program payment requests via the My Zone portal, as well as via File Transfer Protocol (FTP). IVG Online Payment has replaced the paper and diskette processes with a secure, electronic method of submitting payment claims for the IVG Program. IVG Online Payment is available daily from
7 a.m. through 7 p.m. (CT).
As a reminder, the 2009-10 IVG File Specifications (describing the 80-byte file layout to be used to send payment requests for the IVG Program to ISAC via FTP) are available within the Electronic Tools section of the e-Library. To activate participation in the IVG FTP process, or to schedule the transmission of an IVG FTP test file, colleges must contact School Services.
Summer Term Processing Schedule
ISAC is accepting IVG summer term claims via IVG Online Payment, as well as via FTP, beginning today (July 17th). Summer term claims are due on or before
September 15, 2009.
2009-10 tuition and fees are to be used when claiming payment for summer 2009, since the summer term leads the academic year for the IVG Program.
Fall and Spring Terms Processing Schedule
IVG claims processing for the fall term will begin on September 16, 2009. The start date for spring term claims processing is January 16, 2010. Schools will receive a response of "F - Future Claim" for payment requests submitted prior to the term's processing start date. These claims will be held at ISAC and then automatically processed when payment processing for that term begins (i.e., September 16th for fall term or January 16th for spring term).
Fall term claims are due on or before January 15, 2010. Spring term claims are due on or before May 25, 2010.
Be sure to regularly check the current "Important Reminders" calendar, which can be accessed via the ISAC Gift Assistance Programs page at collegezone.com, for upcoming processing dates regarding the IVG Program and other gift assistance programs administered by ISAC.
Security Levels for Accessing Data
Individuals who have been accessing IVG eligibility information in My Zone can view the IVG payment screens via IVG Online Payment. It's important to note, however, that the security level for a staff person to request, edit or update IVG payment claims must be set to "General Admin" by the My Zone administrator at each college. The My Zone administrator should set user access to "View Only" for staff who will not be involved in requesting payment, but need to view IVG eligibility and payment information.
2009-10 ING Grant Announcement Roster Cycle Begins
The first group of ING Grant Announcement Rosters for the 2009-10 academic year is now available online at My Zone. The ING Grant Announcement Roster provides information for each applicant who has applied for the ING Grant with your institution listed as the college of record, and for whom the Illinois Department of Military Affairs (IDMA) has confirmed eligibility as of the date printed at the top of the first page of the roster.
Rosters will be available whenever there is a new or updated eligible record for the college. While a new roster could potentially be available on a daily basis, the college may not have students that appear on a roster each day. It is recommended that the college check My Zone at least once a week for new rosters that may have been posted for the 2009-10 academic year.
Details regarding the ING Grant announcement roster process, including important reminders, are provided at the Illinois National Guard (ING) Grant area of My Zone.
Questions?
If college staff or My Zone administrators have problems gaining access to the IVG pr ING Grant functions, or have questions regarding the online system, they should contact ISAC's School Services Department as indicated below.
New State Legislative Update Posted
(July 17, 2009): FY2010 Budget and ISAC-Administered Gift Assistance Programs
Sent to Financial Aid Directors and Financial Aid Administors on July 17, 2009 The following provides information regarding funding levels for 2009-10 gift assistance programs administered by the Illinois Student Assistance Commission (ISAC), based on the fiscal year 2010 (FY2010) state budget.
State Legislative Update (July 17, 2009)
A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated
July 17, 2009, contains the status of bills that pertain to ISAC-administered programs and higher education in general.
On July 15, 2009, the Governor and state legislators reached an agreement regarding the FY2010 state budget. Absent new revenues and facing a substantial state budget deficit, cuts have been made. Consequently, for the
2009-10 academic year, there have been significant reductions to the amount of money that will be available for many of the ISAC-administered gift assistance programs.
As part of this year's spending plan, the General Assembly provided the Governor with broad authority to manage the state's budget. Rather than directing money to specific programs, legislators appropriated lump sums to many agencies (including ISAC), requiring the Governor or the appropriate board and commission members to decide exactly how to handle the many cuts that will be needed. Information regarding the impact these cuts will have on 2009-10 ISAC-administered gift assistance programs is provided below.
More specific information on the status of all bills affecting higher education is provided in the State Legislative Update, which 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.
Funding Levels for 2009-10 ISAC-Administered Gift Assistance Programs
In total, $220 million has been allocated for gift assistance programs administered by ISAC. As approved by the Illinois Student Assistance Commission at its June 26, 2009 meeting, the breakdown of how that allocation will be split among programs and awarded to eligible students is outlined below.
- Need-Based Programs
- Monetary Award Program (MAP): students at semester schools will receive their full fall term awards and nothing for spring term; students at quarter schools will receive their full fall term awards, partial awards for winter term, and nothing for spring term; see the July 16th e-Message for further information
- Silas Purnell Illinois Incentive for Access (IIA) Program: students will receive a $250 award for fall term only
- Service Programs
- Illinois Veteran Grant (IVG) Program: schools will be reimbursed for summer term awards; fall and spring terms receive no funding
- Illinois National Guard (ING) Grant Program: schools will be reimbursed for all terms at the FY2009 funding level, with the possibility that awards will be prorated
- Veterans' Home Nurse Loan Repayment Program: receives $50,000 in funding
- Teacher and Specialty Programs
- Illinois Future Teacher Corps (IFTC) Program: Golden Apple Scholars and renewals will be funded for full year
- Minority Teachers of Illinois (MTI) Program: renewals and timely new applicants will be funded for full year
- Illinois Teacher Loan Repayment Program: receives same funding as in FY2009
- Nurse Educator Scholarship Program (NESP): receives same funding level as FY2009; FY2010 is final year for this program, which ends on July 1, 2010
- Nurse Educator Loan Repayment Program: receives $500,000 in funding
- Grant Programs for Dependents of Police, Fire or Correctional Officers: receives $875,000 in funding, which is anticipated to fund full-year awards
- Illinois Scholars (Golden Apple, Academy for Urban School Leadership & Dollars for Scholars): receives same funding as in FY2009
- Illinois Special Education Teacher Tuition Waiver (SETTW) Program: not impacted, because award is a tuition waiver from a public university
- Matching Grant Program
- Student to Student (STS) Grant: receives same funding as in FY2009
- Other Programs
- College Savings Bond Bonus Incentive Grant (BIG) Program: receives no funding
- Robert C. Byrd Honors Scholarship Program: federally funded for 2009-10
- Optometric Education Scholarship Program: funded by other sources than the $220 million appropriation; it is not known at this time whether awards will be funded
- Higher Education License Plate (HELP) Program: funded by other sources than the $220 million appropriation; it is not known at this time whether awards will be funded
Watch for future communications (including the College Zone e-Messaging service) regarding the implementation of 2009-10 MAP recompute.
In order to stay up-to-date on the status of ISAC-administered gift assistance programs, continue to regularly visit the ISAC Gift Assistance Programs area, as well as the FAA Message Board, at collegezone.com.
MAP Budget Alert: FY2010 Budget Funds Fall Term Only Awards
Sent to Financial Aid Directors, Financial Aid Administrators, and MAPnet Users on July 16, 2009 Fiscal Year 2010 Budget
On July 15, 2009, the Governor and state legislators reached an agreement regarding the fiscal year 2010 (FY2010) state budget. Absent new revenues and facing a substantial state budget deficit, cuts have been made. Consequently, the amount of money allocated to pay Monetary Award Program (MAP) grants for the 2009-10 school year has been significantly reduced. The actual amount of MAP dollars paid on each student's behalf will be half of what was originally expected, with the available dollars going toward tuition and mandatory fee expenses for fall term (i.e., the full first-term award will be paid). No funds will be available to pay spring term awards.
Communication to Students Regarding MAP Funding
As was recently communicated to you, many of ISAC's school partners and the ILASFAA Formula Committee have advised the agency that a communication about the final impact of budget cuts on students' 2009-10 MAP awards should be sent to all MAP-eligible, nonsuspended students. We, therefore, are again looking to you to help us get the word out since ISAC cannot absorb the cost of sending a message to the 169,000 students directly. An updated communication entitled "Important Message from ISAC to Students Regarding 2009-10 MAP Grant Funding" (dated July 16, 2009) is now available at collegezone.com, and we are seeking your assistance in informing students about the current situation.
Accessible via the Student Zone's Monetary Award Program (MAP) page, this PDF document gives a brief overview of the impact that budget cuts have had on
2009-10 MAP grants. The document also provides information regarding how to contact state legislators for those who might choose to encourage the General Assembly to make student financial aid a priority in allocating state resources in the future.
Communication Options
E-mail: If you send an e-mail to students, we ask that an introduction be given from your institution. Then a link to the message at collegezone.com could easily be inserted in the e-mail note. Feel free to also make the message accessible at your institution's Web site.
Regular mail: If you send a paper copy of the message, we ask that an introductory cover note be provided by your institution along with the message. Simply download and print as many copies of the document as you need.
We greatly appreciate the assistance of the financial aid community in this communication effort.
In order to stay up-to-date on the status of MAP and the other ISAC-administered gift assistance programs, continue to regularly visit the ISAC Gift Assistance Programs area, as well as the FAA Message Board, at collegezone.com.
2008-09 Held MAP Claims Being Released for Payment
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users, and Business Officers on July 15, 2009 The Illinois Student Assistance Commission (ISAC) plans to release 2008-09 Monetary Award Program (MAP) claims, as outlined below.
Held MAP Claims - Processed July 16th
As was announced in June, all 2008-09 MAP claims submitted on or after April 28, 2009 have been held and not processed for payment in order to allow ISAC staff to analyze payment claim data. At that time, schools were asked to complete a full reconciliation of MAP disbursements and report all cancellations.
Based on our analysis, and thanks to the reconciliation efforts of our school partners, all 2008-09 MAP payment claims that were submitted between (including)
April 28, 2009 and June 1, 2009 will be processed the evening of Thursday, July 16, 2009.
Payment results for these records will be available in MAPnet on Friday, July 17, 2009.
Data Will Be Analyzed on July 17th
On Friday (July 17th), ISAC staff will evaluate the amount of funds that remain available after the completion of Thursday's processing, and then determine if additional claims can be released. If so, some claims will also be processed on Friday evening (July 17, 2009). If payment processing does occur on Friday, a separate e-Message would be sent on Monday, July 20th to notify schools of the date through which 2008-09 MAP held claims were processed.
Return MAP and IIA "Due to ISAC" Amounts by
August 17th
Letters will be mailed to financial aid directors on Monday, July 20th, detailing the “Due to ISAC” amount for MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program. The outstanding amount due for both programs, with proper documentation, should be returned to ISAC on or before Monday, August 17, 2009.
MAP Budget Alert
Sent to Financial Aid Directors, Financial Aid Administrators, and MAPnet Users on July 10, 2009 Current Status of State Budget
The fiscal year 2010 state budget has not yet been finalized. Consequently, at this time, no money has been allocated to pay Monetary Award Program (MAP) grants for the 2009-10 school year. Absent new revenues and facing a substantial state budget deficit, cuts will need to be made. Under this budget scenario, ISAC's appropriation for college scholarships and grants, including the MAP grant, could be significantly reduced. One option under consideration would reduce the MAP award by as much as 60 percent.
Communication to Students Regarding MAP Funding
Many of ISAC's school partners and the ILASFAA Formula Committee have advised the agency that a communication about the potential impact of budget cuts on students' 2009-10 MAP awards should be sent to all MAP-eligible, nonsuspended students. We, therefore, are looking to you to help us get the word out since ISAC cannot absorb the cost of sending a message to the 169,000 students directly. A communication entitled "Important Message from ISAC to Students Regarding 2009-10 MAP Grant Funding" is now available at collegezone.com, and we are seeking your assistance in informing students about the current situation.
Accessible via the Student Zone's Monetary Award Program (MAP) page, this PDF document discusses the current status of the state budget and gives a brief overview of the impact that potential cuts to 2009-10 MAP grants may have for students. The document also provides information regarding how to contact state legislators for those who might choose to encourage the General Assembly to make student financial aid a priority in allocating state resources.
Communication Options
E-mail: If you send an e-mail to students, we ask that an introduction be given from your institution. Then a link to the message at collegezone.com could easily be inserted in the e-mail note. Feel free to also make the message accessible at your institution's Web site.
Regular mail: If you send a paper copy of the message, we ask that an introductory cover note be provided by your institution along with the message. Simply download and print as many copies of the document as you need.
We greatly appreciate the assistance of the financial aid community in this communication effort. The message will be updated once the budget for the 2010 fiscal year is known, and if reductions in MAP grants are necessary, we will reach out to you again for assistance in communicating that to students.
Student Loan Community Proposal Supported by ISAC/IDAPP
Sent to Financial Aid Directors, Financial Aid Administrators and Business Officers on July 9, 2009
As we continue our ongoing efforts to fulfill our mission of "making college accessible and affordable for all Illinois students", ISAC and IDAPP are pleased to announce our support of the recently unveiled "Student Loan Community Proposal". The Illinois Student Assistance Commission and the Illinois Designated Account Purchase Program have become signatories on the proposal, joining a coalition of entities from all sectors in the student loan industry in their support. Members of the coalition consider the proposal an endorsement of "the core principles of the (Obama) Administration's reform effort - using federal funds to guarantee the stability of student loan financing, eliminating subsidies to private lenders and generating historic savings for student financial aid - while maintaining choice, competition, superior service for students and schools, and preserving tens of thousands of local jobs in all 50 states."
Additional accomplishments of the proposal include the following:
- Allows schools to maintain the ability to choose local not-for-profit and state-based agencies to provide originations or servicing in their state;
- Permits current originators to continue to provide origination services if schools or students choose them, eliminating the massive transition risk that comes from requiring thousands of schools to immediately change programs; and
- Expands default prevention assistance, counseling, financial literacy and advocacy programs from guaranty agencies to all students and families.
Because we, at our core, are dedicated to Illinois students, and because for more than 52 years, we have tirelessly and proudly served the needs of those students, our decision to support the proposal was an easy one. As stated by Executive Director Andy Davis in his address at this year's ILASFAA Conference, our intention is to remain an active and vital player in the student loan industry in Illinois, whether it be through the Federal Family Education Loan Program (FFELP), Direct Lending, a combination of the two or some other variation. We are prepared to focus on and respond to the needs of Illinois students, families and schools, and are wholeheartedly committed to fulfilling the role that eventually evolves for us in this new environment.
Specific details about the Student Loan Community Proposal, including the legislative language, a list of signatories and a Fact Sheet, are accessible on the America's Student Loan Providers Web site.
2008-09 Late IIA Claims Being Released for Payment
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on July 9, 2009 The Illinois Student Assistance Commission (ISAC) plans to release 2008-09 IIA claims, as outlined below.
IIA Program Late Claims - Processed July 10th
Late claims (payment requests received after the applicable priority claim deadline) received at ISAC for the 2008-09 Silas Purnell Illinois Incentive for Access (IIA) Program will be released for payment according to the following schedule:
- On Friday (July 10, 2009), late claims received on or before July 1, 2009 will be processed. Payment results will be available in MAPnet on Saturday,
July 11, 2009. IIA Program 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.
Claims received after July 1, 2009 will not be paid since July 1st was the final date by which claims were to have been received at ISAC for 2008-09 payment processing.
New State Legislative Update Posted (July 2, 2009)
Sent to Financial Aid Directors and Financial Aid Administrators on July 6, 2009 A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated July 2, 2009, contains the status of bills that pertain to ISAC-administered programs and higher education in general.
As you are likely aware, the new state fiscal year began on July 1st, and at the current time, the state remains without an operating budget. Accordingly, the appropriation level for funding ISAC's programs is also unknown.
A budget proposal (Senate Bill 1197), which would have provided $220 million (50 percent funding) for ISAC's scholarship, grant and loan forgiveness/repayment programs, was vetoed by Governor Quinn on July 1st. The bill is now back in the General Assembly, where an override of the governor's veto will require a three-fifth's majority vote and where its future is uncertain. The General Assembly is scheduled to return to the Capitol on July 14th. We will continue to monitor legislative activity, including any that would result in the governor acting on pending legislation, and will keep you informed of any change.
More specific information on the status of all bills affecting higher education is provided in the State Legislative Update, which 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.
MAP Refunds Due to ISAC July 10th
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on July 2, 2009 So that we are able to determine our ability to pay
2008-09 Monetary Award Program (MAP) late claims, any amounts due to ISAC as a result of account reconciliation at your institution are due to ISAC no later than Friday, July 10, 2009.
On June 10th, institutions with amounts due to ISAC for MAP were mailed letters indicating those amounts owed as of June 8, 2009. However, any institution that has processed payment requests, adjustments, refunds or cancellations for MAP since June 8th will need to review the latest Payment Results/Summary Invoice Detail Reports for the current amounts due to ISAC.
Please be sure to include the Gift Assistance Programs Check Return Form when refunding amounts due to ISAC, and provide the appropriate adjustment data via MAPnet.
See the June 11th e-Message for more information about the reconciliation process.
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on July 6, 2009 and July 20, 2009
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 June 2009 Available at College Zone
Sent on July 1, 2009 The June 2009 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 June via College Zone's e-Messaging service.
Topics covered in the June 2009 ISAC Update include:
- Commission Meeting Summary - 2009-10 Budget Spending Priorities and MAP Recompute Formula
(sent June 29, 2009)
- Commission Meeting to be Held Friday,
June 26, 2009
(sent June 19, 2009)
- 2008-09 ING Grant Summer Term Payment Request Rosters Now Available via My Zone
(sent June 15, 2009)
- Projected FY2010 Budget Impact On State-Funded ISAC Programs
(sent June 12, 2009)
- June Webinar to Provide ISAC Update
(sent June 11, 2009)
- Returning Amounts Owed for 2008-09 MAP
(sent June 11, 2009)
- New State Legislative Update Posted (June 9, 2009)
(sent June 9, 2009)
- Additional Held Claims to Be Paid for 2008-09 MAP
(sent June 5, 2009)
- Financial Aid 101: Building a Solid Foundation -
June 2009 Workshops
(sent June 4, 2009)
- Held Third Term Claims to Be Paid for 2008-09 MAP
(sent June 1, 2009)
- Latest School DAAR Report Available
(sent June 3, 2009 and June 18, 2009)
- Electronic ISAC Update for May 2009 Available at College Zone
(sent June 1, 2009)
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