VOL. 22, NO. 4L
September 2004
Welcome to the September 2004 ISAC Update for Lenders and Servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout September. While this e-Messaging service is currently being offered in addition to the printed ISAC Update newsletters, it will soon replace both printed newsletters and special e-mail lists as ISAC’s primary means of communicating information to you.
The articles in this Update have been organized according to the Lender 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 Lender Services by sending an e-mail message to lenderservices@isac.org or calling 800.899.ISAC (4722) and speaking with one of the following staff members:
- Sharon Bankston, extension 2826
- David Barinholtz, extension 2822
- Sondra Gardner, extension 2827
- Julie Henschel, extension 2823
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.
MARKETING NEWS, ANNOUNCEMENTS
ELM Workshop Rescheduled
Sent on September 22, 2004
The ELM Resources Fall Client Workshop, to be hosted by ISAC in our Deerfield office on Thursday, September 23rd, has been rescheduled. The new date is Tuesday, October 12th.
The location for the meeting remains the same, and all other registration information can be found on the ELM Web site at http://www.elmresources.com/s-meetings.php.
Please mark your calendars with this new date.
College Zone Resources Help Students Say: Yes, I Can Go To College
Sent on September 22, 2004
Many factors are considered by students planning to attend a new college in the future, and resources available at College Zone (collegezone.com) provide key pieces of information to assist in the decision-making process.
Several areas of College Zone reflect 2004-05 academic year information. Students will find links to each of the below resources within the College area of the Student Zone.
- Handbook of Illinois Postsecondary Institutions (located within the Manuals and Handbooks section of the e-Library) - the Handbook is conveniently divided by institutional type, contains up-to-date admission and financial aid information about the Illinois colleges which participate in ISAC's gift assistance (i.e., scholarship and grant) and/or loan programs, and provides links to school Web sites.
- Map of Illinois Colleges (located within the Job Aids & Reference Materials section of the e-Library) - this interactive map allows individuals to search for Illinois colleges by geographic region, and provides school addresses, phone numbers, links to Web sites, and current-year costs of education.
- College Costs (located within the College area of the Student and Parent Zones) - provides a listing of current-year tuition and fees for Illinois colleges, broken down by institution type (public universities, private colleges and universities, and community colleges).
In addition, links to launch the Illinois Board of Higher Education's Search Programs in Illinois page have been added to the Student Zone. Students can use this tool to narrow down college choices based on the subject area and/or specific program they plan to pursue. To access the Search Programs in Illinois page, simply select the "area of study" link that appears within the Reputation section at the Finding/Applying front page of the College area.
Along with the above resources, students and their families can find all the college planning, finding and applying, and financing information they need at College Zone, the trusted source for college information.
Several Federal Family Education Loan Program (FFELP) Loan Processing Options Available for Schools
Sent on September 1, 2004
With peak loan processing season upon us, it seems a good time to review the many processing options available for using the ISAC guarantee. With the FFELP industry's move to a standardized method for data exchange via CommonLine, ISAC is able to support the "school choice" approach for loan processing. Among the loan processing software/systems supported by ISAC are ELM Resources, Laureate, OpenNet*, ScholarNet, Nteract, as well as any other that adheres to the CommonLine standards.
Another aspect of loan processing which concerns us all is default prevention. The consequences of default have a negative impact on a student’s present and future financial health, as well as the school's ability to participate in federal aid programs. Information about ISAC's default prevention resources and materials can be found at the following links:
http://www.collegezone.com/faazone/766.htm
http://www.collegezone.com/faazone/766_1660.htm
For assistance with loan processing issues, please contact ISAC's Lender Services Department by calling toll free at 800.899.ISAC (4722) or sending an e-mail message to lenderservices@isac.org.
*ISAC has completed testing with OpenNet, but Sallie Mae continues in an internal validation pilot for OpenNet.
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ISAC UPDATE
Electronic ISAC Update for August 2004 Available at College Zone
Sent on September 1, 2004
The August 2004 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 Lenders and Servicers in August via College Zone's e-Messaging service.
Topics covered in the August 2004 ISAC Update include:
- Mark Your September Calendar (Labor Day Holiday, and Mapping Your Future Chat Event)
- Electronic ISAC Update for July 2004 Available at College Zone
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