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5/22/2006
The below dates and reminders are important in monitoring the close-out activities for the 2005-06 Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program payment processing cycle.
- June 9th – is the MAP and IIA priority claim deadline date for third quarter, and for second semester for institutions whose second semester began after February 15th.
- June 12th – is the date that letters detailing the outstanding amount each institution must refund to ISAC for MAP and IIA for the 2005-06 academic year will be mailed to financial aid directors.
The outstanding amount due, with proper documentation, should be returned to ISAC on or before June 30, 2006. Please be sure that 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, is used. As a reminder, do not send refund checks to ISAC without providing the appropriate adjustment data via MAPnet.
You are encouraged not to wait for the arrival of this letter but, rather, to finalize reconciliation activities on your campus as soon as possible. Payments must be reconciled on a student-by-student basis. Due to the offset process, funds should be returned to ISAC only after a final reconciliation has been completed to close-out the regular school year.
- June 30th – is the due date for 2005-06 MAP and IIA outstanding amounts that each institution must refund to ISAC (see the "June 12th" entry, above, for further details).
Appropriation balances will be monitored and the decisions concerning releasing payment of MAP and/or IIA late claims will be made after the June 30th refund due date.
- August 4th – is the last date that cancellations, refunds, or reductions may be submitted via MAPnet.
Submissions will be accepted until the site becomes unavailable at 7 p.m. After Friday, August 4th, the MAPnet application for 2005-06 will be available only for historical view.
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