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VOL. 23, NO. 7IGSL, 7B
January 2006
Welcome to the January 2006 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
2006-07 MAP Start-up Formula Approved - Summary of January 27th Commission Meeting
Sent to Financial Aid Directors and Financial Aid Administrators on January 30, 2006
The following is a summary of action taken at Friday afternoon's meeting of the Illinois Student Assistance Commission (ISAC). Details regarding all topics discussed are provided in the January 27th Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission page within the e-Library at collegezone.com.
FY2007 (2006-07 Academic Year) MAP Start-up Formula Approved - Agenda Item 4
The 2006-07 Monetary Award Program (MAP) start-up formula reflects an assumption of level funding, and is based on the 2005-06 MAP recompute formula. No changes have been made between the FY2006 recompute formula and the FY2007 start-up formula; this conservative approach has been taken in order to avoid the need to further reduce MAP awards in the recompute formula after the state budget is finalized.
We anticipate start-up for 2006-07 MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program to be implemented in early- to mid-February, including the launch of the 2006-07 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.
Proposed Rules Amendments - Agenda Item 6 Rules amendments are being proposed for the 2006-07 academic year to 13 existing Parts, and two additional Parts are being added for new ISAC-administered programs (the Teach Illinois Scholarship and the Child Welfare Loan Forgiveness Program). The full text of the proposed amendments and notices will be made available via the e-Library's ISAC Administrative Rules section, following publication in the Illinois Register. The anticipated effective date of these proposed amendments is July 2006.
Agenda Book Available For January 27th Commission Meeting - Topics Include 2006-07 MAP Start-up
Sent to Financial Aid Directors and Financial Aid Administrators on January 23, 2006
On Friday, January 27th, the Illinois Student Assistance Commission will meet at 3 p.m. at DePaul University in Chicago. Prior to the meeting, a workshop for Commissioners will be held.
The agenda for the 3 p.m. meeting includes:
- FY2007 (2006-07 academic year) Monetary Award Program (MAP) Start-up;
- College Illinois! Annual Report; and
- the initial presentation of proposed Omnibus Rules amendments.
The Agenda Book for the meeting is now available and provides a full description of all agenda items, including FY2007 MAP Start-up. To access this information, visit the ISAC's Governing Board: The Commission page within the e-Library at collegezone.com.
Financial Aid 101: Building a Solid Foundation - January 2006 Workshops
Sent to 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 January 11, 2006 The Illinois Student Assistance Commission (ISAC) will offer its Financial Aid 101: Building a Solid Foundation workshop twice in January. The dates and locations are:
- Thursday, January 26 – ISAC's Springfield Office; or
- Tuesday, January 31 – ISAC's Deerfield Office.
Who Should Attend?
This free, full-day (9 a.m. - 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.
What's Covered?
The workshop will provide an overview of the following topics:
- basic financial aid principles;
- the 2006-07 Free Application for Federal Student Aid (FAFSA);
- need analysis;
- ISAC's scholarship and grant programs;
- federal financial aid programs; and
- student loan basics.
For more details, you may view the workshop agenda in the Partner Training section of the e-Library at collegezone.com. Seating at each site is limited, so please register early through the online registration process.
Please note that, while there is no charge to attend the workshop, lunch is on your own. Details regarding directions, parking and dining facilities will be provided to registered participants via e-mail a few days prior to the workshop.
Financial Aid 101 is intended to serve as a first step in professional development for new FAAs, and serves as a nice complement to other financial aid workshops and conferences such as the upcoming Winter Workshop being offered by the Illinois Association of Student Financial Aid Administrators (ILASFAA), Inc. on February 23 and 24 in Bloomington, Illinois. Topics that will be covered at the Winter Workshop include:
- Verification
- Conflicting Information on Tax Returns
- Reauthorization
- Veteran Programs
- Accountability
For more details about the ILASFAA Winter Workshop, visit the Training page of the ILASFAA Web site at ilasfaa.org.
Mark Your Calendar for Upcoming Important Dates
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 January 5, 2006 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 students.
You may either scroll through the entire message, or click on the appropriate link(s) to go directly to details about a specific topic:
UPDATES
Operational dates and information on next Commission meeting
TRAINING OPPORTUNITY, RESOURCES & CHAT EVENT
Includes information about upcoming Financial Aid 101 training sessions
HOLIDAY SCHEDULES
Processing schedules for Martin Luther King, Jr. holiday
All below links launch pages located at collegezone.com.
UPDATES
Important Reminders Calendar Available
Based on feedback from the ILASFAA/ISAC Rules and Operations Committee, an "Important Reminders" calendar can now be accessed via the ISAC Gift Assistance Programs front page. Each month's calendar will offer at-a-glance reminders of important operational dates concerning the gift assistance programs, serving as a supplement to the individual "Program News" pages for each program. The current calendar includes the January 2006 operational dates listed below.
January 13th – 2005-06 MAP and IIA Program First Term Payment Claims Due
2005-06 first term payment claims for the Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program are due on or before January 13, 2006. Details regarding MAP payment processing and IIA payment processing, along with the 2005-06 MAPnet User Guide, are available within the FAA Zone.
January 15th – 2005-06 IVG Program First Term Payment Claims Due
2005-06 first term payment claims for the Illinois Veteran Grant (IVG) Program are due on or before January 15, 2006. For more information regarding the payment process, refer to the IVG Payment page.
January 27th – State Scholar Mailing Labels or Listings Available to Order
ISAC provides Illinois colleges and universities the opportunity to order listing of names of State Scholar Finalists for recruitment purposes after the appeal period expires. Watch for more information about the availability of order forms at the State Scholar Program News page.
January 27th –Commission Meeting
The next regular meeting of the Illinois Student Assistance Commission is scheduled for January 27, 2006, at DePaul University in Chicago. 2006-07 MAP start-up will be included on the agenda. The Agenda Book, providing a full description of each agenda item, will be available via the ISAC's Governing Board: The Commission page within four to seven days prior to the meeting.
TRAINING OPPORTUNITY, RESOURCES & CHAT EVENT
Financial Aid 101 - January Workshops
This full-day workshop is designed to introduce new financial aid professionals to financial aid concepts, processes and programs and help them develop a strong foundation on which to build their careers. This is a wonderful opportunity for new staff to become more familiar with the 2006-07 Free Application for Federal Student Aid (FAFSA). The workshop and materials are free to participants. Complete details will be provided soon, but mark your calendars for one of the following dates.
- January 26, 2006 - ISAC's Springfield Office
- January 31, 2006 - ISAC's Deerfield Office
Presentations from 2005 Fall Seminars Available
Microsoft® PowerPoint® presentations from the 2005 Fall Seminars for Financial Aid Administrators are now available for download at the Seminar Handouts & Presentations page within the e-Library.
College Awareness & Preparation (CAP) Resources Available for 2006-07 FAFSA Cycle
The 2006-07 FAFSA cycle, including FAFSA on the Web, Renewal FAFSA on the Web, Corrections on the Web, and FAA Access to CPS Online, began on January 1, 2006. The Central Processing System (CPS) began processing 2006-07 FAFSA data on January 2nd. Details regarding the 2006-07 application cycle are provided within the Applying for Financial Aid section of the e-Library.
Check out the College Awareness & Preparation (CAP) page for information regarding resources that are available to help your students complete the financial aid process. Several events, including FAFSA completion seminars, will take place across the State of Illinois between now and early March. Encourage students to attend the event that best fits their schedule.
CAP is a comprehensive effort of the Illinois Association of Student Financial Aid Administrators (ILASFAA), Inc., the Illinois Association for College Admission Counseling (IACAC) and ISAC. Formerly known as Financial Aid Admission/Awareness Month (FAAM), CAP strives to fulfill its mission through a series of workshops, seminars and statewide support with partners from all sectors of education in the State of Illinois.
January 17th –Mapping Your Future Chat Event
The next Mapping Your Future online Chat Event, Financial Aid and the FAFSA, is scheduled from 6 to 7 p.m. (CT) on Tuesday, January 17, 2006. Watch for more information to be posted at the FAA Message Board as this date approaches. Also, remember that the calendar of upcoming Chat Events through August 2006 is available at the Outreach Activities page.
HOLIDAY SCHEDULES
A complete listing of 2006 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar.
January 16th – Martin Luther King Jr. Day
In observance of Martin Luther King Jr. Day, ISAC offices will be closed on Monday, January 16th and will reopen on Tuesday, January 17th.
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 16th will be processed on January 17th, with results available January 18th (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 16th, MAPnet will be available during regularly scheduled hours and will reflect records processed by the CPS through Friday, January 13th. MAP payment requests submitted from 5 p.m. (CT) Friday, January 13th through 5 p.m. (CT) Tuesday, January 17th 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 18th.
The College Zone Web site 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 an 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).
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Financial Aid Director
Governor Blagojevich Proposes Tax Credit for Residents Enrolled in Illinois Colleges
Sent on January 19, 2006
In his 2006 State of the State address, Governor Rod Blagojevich proposed a $1,000 annual tax credit for freshmen and sophomores who live in Illinois and maintain a "B" average while attending a public or private college in Illinois. The Governor's Office has requested that ISAC forward information to you about the College Tuition Tax Credit.
Elliot Regenstein of the Governor's Office has asked that he be contacted with any questions or comments about the initiative. His contact information is as follows:
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MAPnet Users
2005-06 MAP and IIA Processing Reminders
Sent on January 4, 2006 2005-06 – January 13th Payment Request Deadline Date
Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program payment claims for the first semester/quarter are due to ISAC by 5 p.m. on Friday, January 13, 2006. Any initial claims for first semester/quarter made after the deadline date will be paid only if funds permit, on a first-come, first-served basis beginning after June 9, 2006. Further details are available at the MAP Payment page and IIA Payment page, both located within the ISAC Gift Assistance Programs area of the FAA Zone.
Mailing of 2005-06 MAP and IIA Cumulative Payment Results Reports Discontinued
Effective immediately, the MAP and IIA Cumulative Payment Results reports will no longer be mailed to schools. Previously these reports were mailed just prior to and just after MAP and IIA payment request deadline dates.
In order to obtain a complete and up-to-date listing of students’ payment results, the Cumulative Payment Results reports may be generated via MAPnet. Specific instructions are provided in the 2005-06 MAPnet User Guide (Payment Chapter, pages 13-14), located within the Processes area of the FAA Zone at collegezone.com.
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FFELP Participants
Latest School DAAR Report Available
Sent on January 4, 2006 and January 18, 2006
The Notification of Student Loan Borrower DAAR Status report (School DAAR Report) for your school is now available on College Zone's My Zone. This online version has replaced the paper rosters ISAC sent in the past.
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 December 2005 Available at College Zone
Sent on January 3, 2006
The December 2005 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 2005 ISAC Update include:
- 2006-07 Teacher Program Applications Available - Due On or Before March 1, 2006 (sent December 19, 2005)
- Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program Update and Reminders (sent December 15, 2005)
- IllinoisMentor at collegezone.com (sent
December 7, 2005)
- Latest School DAAR Report Available (sent December 5, 2005 and December 19, 2005)
- Electronic ISAC Update for November 2005 Available at College Zone (sent December 1, 2005)
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