VOL. 22, NO. 7IGSL, 7B
January 2005
Welcome to the January 2005 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 January. 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
Announcement of Date for Release of 2004-05 MAP Suspended Awards and Release of Payment for MAP Late Claims
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on January 28, 2005
Due to a combination of factors affecting the anticipated payment claim rates for first term, ISAC is releasing Monetary Award Program (MAP) grants from suspended status for approximately 9,000 eligible students whose Free Application for Federal Student Aid (FAFSA) receipt dates were August 16, 2004 through (and including) October 15, 2004. These records will be released from suspension after 7:00 p.m. on Thursday, February 3, 2005 and will be available for payment and may be viewed in MAPnet the next morning. All MAP grants for eligible students with initial FAFSA receipt dates on or after October 16, 2004, remain in a suspended status.
2004-05 MAP Applicant Award Status Chart
The 2004-05 MAP Applicant Award Status Chart provides an overview of categories for students based on the initial application (FAFSA) receipt date. Since the release from suspension affects "new" and "continuing" applicants, please pay particular attention to the “Eligibility/Late Codes” column provided concerning eligible terms for payment.
Identifying Student Records - New MAPnet Filter/Report
Schools will want to identify student records released from suspension for a variety of reasons (i.e., file review and repackaging, claiming MAP payment, etc.). MAPnet contains filters that will allow you to identify student records and create reports. As a reminder, these reports can be used later to determine which released student records may be eligible for MAP payment.
If a report is not created for student records that are in suspension status (by the suspense flag) prior to the release of these records, you will still be able to identify the impacted records. A new MAPnet filter will be available, as of February 4, 2005, to use in identifying students released from suspension and to create a report. Schools will be able to identify students by their “Application Receipt Date.” Complete instructions for both reports are available from the "Suspense" page of the MAP area in the ISAC Gift Assistance Programs section of collegezone.com.
2004-05 First Term Late Claims - Available Friday, February 4, 2005
The day after records are released from suspension, ISAC will release MAP payment processing for first term. There will be student records released from suspension (full year awards) that are now eligible for first term payment (please refer to the 2004-05 MAP Applicant Award Status Chart). Schools may use their standard procedure to request payment for those students.
Also, ISAC will release payment processing for held first term claims for MAP grants (IIA grants are not being released for late payment processing). MAP records held as late claims are identified on the Payment Results Report with a Result Code of “Y.” All late payment requests that were submitted after January 14, 2005 will automatically be reprocessed. Processed records will appear on the Payment Results Report. First term payment claims will continue to be paid until the second term payment claim deadline date.
Second Term Payment Claim Deadline Date – April 8, 2005
The second semester/second quarter payment claims for both MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program are due to ISAC by 5:00 p.m. on April 8, 2005 (except, for those institutions where the second semester begins after February 15th, the claim deadline date is June 10, 2005). As of this date, ISAC will re-evaluate remaining funding to determine if late claims will continue to be paid. It is possible that any payment claims submitted after the second term deadline date will be held until after the processing of timely claims for the final term, and then will be paid on a first-come, first-served basis as funds permit.
2005-06 MAP Start-Up Formula Approved - Summary of January 24th Commission Meeting
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on January 24, 2005
The following is a summary of action taken at this morning's meeting of the Illinois Student Assistance Commission (ISAC). Details regarding all topics discussed are provided in the January 24th Agenda Book, which can be accessed from the "2005 Agenda Books" page within the "ISAC's Governing Board: The Commission" section of College Zone's e-Library.
Executive Director's Report
The following announcements were made regarding 2004-05 programs administered by ISAC:
- Due to a combination of factors affecting the anticipated payment claim rates for first term, ISAC expects to be able to release Monetary Award Program (MAP) grants from suspended status for approximately 9,000 students.
- Effective January 15, 2005, $650,000 has been appropriated for the College Savings Bond Bonus Incentive Grant (BIG) Program, and ISAC is currently accepting applications for this program.
2005-06 MAP Start-Up Formula Approved - Agenda Item 7
The 2005-06 MAP start-up formula is based on the 2004-05 MAP funding level of $338 million and the 2004-05 MAP recompute formula, including the tiered reduction factor concept first introduced last year. The 2005-06 start-up formula reflects a conservative approach to avoid the need to further reduce MAP awards in the recompute formula after the state budget is finalized. The primary change from the current 2004-05 formula is an increase in the reduction factors for Expected Family Contribution (EFC) ranges. One benefit of applying a tiered reduction factor is that no awards are completely eliminated. As is currently the case, no awards will be provided for applicants who have an EFC equal to or greater than 9,000.
We anticipate start-up for 2005-06 MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program to be implemented in mid-February, including the launch of the 2005-06 MAPnet system. ISAC will notify you via the College Zone Web site and this e-Messaging service once an exact date for start-up implementation has been determined.
FY2006 Appropriated Funds Budget Request Approved - Agenda Item 6
The ISAC State Fiscal Year (FY) 2006 budget request totaling $668.6 million, which will impact programs for the 2005-06 academic year, was approved by the Commission and will now be submitted to the Illinois Board of Higher Education (IBHE). This budget request is based on one priority: continuing support for need-based aid to promote affordability and access.
Action Taken on Various Administrative Rules
These items were brought before the Commission and had the results indicated.
- Agenda Item 11 - The Commission approved and adopted the rules for the Americans with Disabilities Act Grievance Procedure with an anticipated effective date of approximately February 1, 2005.
- Agenda Item 12 - The Commission approved and adopted the amendment for the Illinois Veteran Grant (IVG) Program with an anticipated effective date of approximately February 1, 2005.
- Agenda Item 13 - The Commission was informed that amendments are being proposed to 10 different Parts of the ISAC Rules with a 45-day public comment period initiated when they are published in the Illinois Register. Full text of the proposed amendments and notices will be made available at collegezone.com following the publication date. The anticipated effective date of these proposed amendments is July 2005.
2005-06 MAP Start-Up - Technical Changes
Sent to Financial Aid Directors and MAPnet Users on January 20, 2005
Each year the Commission approves a start-up formula to calculate student eligibility for the Monetary Award Program (MAP) for the upcoming academic year. Typically, the Commission takes action in January so awards can be calculated and announced to students in February. On January 24, 2005, the Commission will take action on the staff's recommendation for the 2005-06 MAP start-up formula. The Agenda Item, FY2006 Monetary Award Program (MAP) Start-Up, can be easily accessed within the e-Library at collegezone.com. After the Commission meeting, watch for additional information concerning MAP start-up.
2005-06 Monetary Award Program (MAP) File Specifications Available
The MAP-Automated Delivery Process (ADP) File Specifications have been updated for the 2005-06 processing cycle. This 160-byte file layout is pertinent to schools utilizing the file extraction features of MAPnet, or sending payment requests for MAP or the Silas Purnell Illinois Incentive for Access (IIA) Program to ISAC via File Transfer Protocol (FTP).
Minimal changes have been made for 2005-06 processing and include adding filler in two places and additional space in the enrollment hours field for schools that have classes that are less than full credit hours (i.e., 3.5 hours). Please note that "Enrollment Hours" has moved from Field 10 to Field 39 in the specifications.
The 2005-06 MAP-ADP File Specifications are available within the Electronic Tools section of the e-Library at collegezone.com.
Ability to Calculate and Announce 2005-06 Awards Based on Anticipated Enrollment
Based on feedback from our partners, the ability to calculate awards based on an individual student's anticipated enrolled credit hours will be available at start-up via a new screen in MAPnet. This will eliminate the need for hand calculations for those schools that estimate actual awards rather than announcing the full annual award amount. Complete instructions will be available in the 2005-06 MAPnet User Guide set to be released in conjunction with start-up in mid-February.
No More Rounding Issues - Award Validation Tool Available
An enhancement is being introduced for 2005-06 with the purpose of ensuring that awards calculated by institutions outside of MAPnet match ISAC's official calculations. Schools who have the ability to utilize File Transfer Protocol (FTP) for data exchanges are being offered an automated tool to submit test files to ISAC and are strongly encouraged to take advantage of this formula and award validation tool. It will become available at start-up and will continue to be available until the payment cycle begins. Complete instructions will be provided in College Zone in conjunction with the release of start-up in mid-February.
Mark Your Calendars for Upcoming Important Dates
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on January 11, 2005
January 17th - Martin Luther King, Jr. Day
In observance of the national holiday for the birthday of Martin Luther King, Jr., ISAC offices will be closed on Monday, January 17th, and will reopen on Tuesday, January 18th.
Loan records received at ISAC on Martin Luther King, Jr. Day, as well as disbursement records received at the National Disbursement Network (NDN), will be processed the following business day. This means that CommonLine or Common Account Maintenance (CAM) files received on January 17th will be processed on January 18th, with results available January 19th (or the next available day for any schools opting to receive NDN files on specific days of the week). Note that ELM Resources will continue to process and transmit files on January 17th.
Although ISAC’s offices will be closed on January 17th, MAPnet will be available during regularly scheduled hours and will reflect records processed by the Central Processing System (CPS) through Friday, January 14th. Monetary Award Program (MAP) payment requests submitted from 5 p.m. (CT) Friday, January 14th through 5 p.m. (CT) Tuesday, January 18th will be processed Tuesday night, and payment results (which will show late claim indicators for 1st term claims) will be available on MAPnet the morning of Wednesday, January 19th.
College Zone is available 24 hours a day, 7 days a week - even when the ISAC offices are closed. Also, questions or inquiries may be submitted at any time by sending an e-mail message to ISAC's School Services staff. 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).
We extend our best wishes for a safe and happy holiday.
January 24th - Commission Meeting
On Monday, January 24th, the Illinois Student Assistance Commission will meet at 9:00 a.m. at ISAC's Deerfield Office. The tentative agenda includes the FY2006 Appropriated Funds Budget Request, FY2006 MAP Start-Up, and some other items related to administrative rules, College Illinois!, and IDAPP.
The Commission Meeting Agenda Book, providing a full description of all agenda items, including FY2006 MAP Start-Up, will be available at College Zone five to seven days prior to the meeting. To access this information, visit the e-Library in College Zone and select the ISAC's Governing Board: The Commission page.
February 11th - Merit Recognition Scholarship (MRS) Program Payment Request Due Date
2004-05 MRS Payment Announcement Rosters, used by schools to request second disbursements, are scheduled for mailing on January 18th. In order for payment on these disbursements to be included in the payment run of February 15th, the payment requests must be submitted on or before Friday, February 11, 2005. The next MRS payment request due date will be in early April. Further details are available at the MRS Program Payment page in the ISAC Gift Assistance Programs area of the FAA Zone.
FAAM - Helping Your Students Prepare for the 2005-06 Academic Year
February is Financial Aid/Admission Awareness Month (FAAM) - time for you to encourage your returning students to file their 2005-06 Free Application for Federal Student Aid (FAFSA) as early as possible!
This continues to be a record-breaking year for the FAAM Committee, with currently over 80 FAFSA Completion sites confirmed for February 2005. The current list of sites is available at the newly redesigned FAAM Web site. If your institution is not hosting a FAFSA Completion Workshop you can refer students and parents to a nearby location for assistance. The FAAM Web site will continue to be updated as new information becomes available, so be sure to check back on a regular basis.
January 30, 2005 and February 27, 2005 have been designated as College Goal Sundays in Illinois! On these dates Illinois and FAAM will join other states across the country by participating in events designed to assist low-income families and those who have no college-going tradition complete the FAFSA.
FAAM, a joint effort between the Illinois Association of Student Financial Aid Administrators (ILASFAA), the Illinois Student Assistance Commission (ISAC), the Illinois Association for College Admission Counseling (IACAC) and Federal Family Education Loan Program (FFELP) lenders, is an outreach campaign focusing on the importance of a college education and the admission process as well as the availability of financial assistance.
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FINANCIAL AID DIRECTOR
Limited Release of Suspended Awards for 2004-05 MAP
Sent on January 12, 2005
There is good news for some 2004-05 Monetary Award Program (MAP) eligible students whose Free Application for Federal Student Aid (FAFSA) receipt dates were after August 15, 2004. Due to a combination of factors affecting the anticipated payment claim rates for first term, including the newly implemented MAP Paid Credit Hours, ISAC expects to be able to release MAP grants from suspended status for a limited number of eligible students later in the month of January.
After the first term payment claim date of January 14th has passed, further analysis will be completed by ISAC and the specific 2004-05 FAFSA receipt dates to be released from suspension will be determined. Since schools will already have the current enrollment status information concerning these students, ISAC will not be sending MAP announcement letters and will be relying on schools to notify their affected students.
Join us following the Commission meeting on Monday, January 24th at 1:00 p.m. for an Executive Briefing Conference Call with ISAC's Executive Director, Larry Matejka. He'll provide an overview of the meeting, and then additional information concerning the release of suspended awards will be shared. To participate in the conference call, dial 888.767.9380 and enter the passcode: 9767339#.
As soon as specific details about this limited release become available, we will keep you apprised via standard College Zone communications (e.g., Message Boards, e-Messages, and/or Program News).
Executive Briefing Conference Call To Be Held After January 24th Commission Meeting
Sent on January 10, 2005
Commission Meeting
On Monday, January 24th, the Illinois Student Assistance Commission will meet at 9:00 a.m. at ISAC's Deerfield Office. The tentative agenda includes: an IDAPP bond financing; FY2006 Appropriated Funds Budget Request; FY2006 MAP Start-Up; Appointment of College Illinois! Investment Advisory Panel Member; College Illinois! Annual Report; final action on proposed rules governing grievance procedures under the American with Disabilities Act and proposed amendments for the Illinois Veteran Grant (IVG) Program; the initial presentation of proposed Omnibus Rules amendments; and an Institutional Application to Participate in ISAC Gift Assistance Programs.
The Commission Meeting Agenda Book, providing a full description of all agenda items, including FY2006 MAP Start-Up, will be available at College Zone five to seven days prior to the meeting. To access this information, visit the e-Library in College Zone and select the ISAC's Governing Board: The Commission page.
Executive Briefing Conference Call
Following the Commission meeting on Monday, January 24th at 1:00 p.m., ISAC Executive Director Larry Matejka will offer an Executive Briefing Conference Call to provide an overview of the meeting for financial aid staff at the Director or upper-management level. To participate in the conference call, dial 888.767.9380 and enter the passcode: 9767339#.
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FINANCIAL AID ADMINISTRATOR
FAFSA, Financial Aid, and Careers Chat Event - January 11, 2005
Sent on January 4, 2005
Financial Aid Administrators: Please share the following information with any students who would benefit from it.
On Tuesday, January 11, 2005, Mapping Your Future will offer a "FAFSA, Financial Aid, and Careers" chat from 6 to 7 p.m. (CT). The chat is designed to help students and their families get answers to financial aid and career questions and receive assistance with completion of the Free Application for Federal Student Aid (FAFSA).
During this "FAFSA, Financial Aid, and Careers" Chat Event, participants will learn about:
- completing the FAFSA;
- determining eligibility for federal student aid;
- calculating financial need and the expected family contribution;
- paying for school; and
- choosing a career.
You can access Mapping Your Future by selecting "Mapping Your Future" from the "FAA Quick Links" menu that appears along the right margin of the FAA 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 is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page. Remember, also, that a poster (in .pdf format) listing 2004-05 Chat Events is available at the Mapping Your Future Web site. You may wish to consider printing (on 8½" x 11" paper, in color or black & white) and displaying this poster, which can be accessed via Mapping Your Future's "Financial Aid Professionals" and "Live Chat Events" pages, in areas of your campus that can be easily viewed by individuals seeking information about the college process.
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.
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ISAC UPDATE GROUP
Electronic ISAC Update for December 2004 Available at College Zone
Sent on January 3, 2005
The December 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 Financial Aid Administrators and Business Officers in December via College Zone's e-Messaging service.
Topics covered in the December 2004 ISAC Update include:
- Holiday Schedules and Payment Claim Deadlines
- ISAC Launches Interactive Application for 2005-06 Teacher Education Scholarship Programs
- Conducting a Financial Aid Presentation - In Spanish! (Dirigir una Presentación de Ayuda Financiera – En Español)
- Loan Consolidation Chat Event - December 14, 2004
- New Service at College Zone - My Zone: ING Grant Eligibility Information Now Available Online
- Electronic ISAC Update For November 2004 Available At College Zone
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