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Volume 15, Number 6
April - June, 2006
Welcome to the April - June 2006 ISAC Communiqué – the electronic edition of your Communiqué, which is a quarterly compilation of e-Messages sent through College Zone’s e-Messaging service throughout April, May and June. While this e-Messaging service is currently being offered in addition to the printed ISAC Communiqué 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 electronic Communiqué have been organized according to the Counselor Zone subscription groups to which the messages were distributed via College Zone’s e-Messaging service.
Questions?
Questions regarding information in this electronic Communiqué 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
Fall Update Sessions - Mark Your Calendars
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on June 27, 2006.
You asked for it! The Illinois Student Assistance Commission (ISAC) is excited to be hosting a three part Professional Development Series throughout the state designed especially for high school counselors, college admission counselors and members of community-based organizations. Each distinct half-day session (9 a.m. – 12:30 p.m.) in the series has been tailor-made to take participants progressively through the financial aid application process.
Last year, during our update sessions, we heard from participants that you greatly benefited from the “FAFSA Made Easy” and the "FAFSA Expert" sessions. We also learned that what you needed most was more time for interactive discussions. With that in mind, we will continue to offer an intensive review of the Free Application for Federal Student Aid (FAFSA) and incorporate ample time for participants to share their own questions and examples.
We also learned last year that you were interested in taking a glance beyond the FAFSA into the financial aid packaging process. As you know, we are always looking to better meet your needs through our programs and services. To accommodate your requests, we will be featuring a new portion of the series looking at a student's financial need from the perspective of a Financial Aid Office. With the incorporation of these updates, this year-round training should be even more successful than last year!
Professional Development Series Overview
- FAFSA Made Easy (September - December) – Registration Begins September 1st
This fall, the "FAFSA Made Easy" Sessions will focus on the intricacies of the FAFSA and student eligibility for financial aid. Developed as an intensive review of the FAFSA, these sessions will place special emphasis on the dependency questions, the worksheets, and eligible non-citizens.
- FAFSA Expert (January - February) – Registration Begins December 12th
Our "FAFSA Expert" sessions take you beyond the basic line-by-line walkthrough of the FAFSA. In-depth case studies will be used to illustrate the many nuances of the Expected Family Contribution (EFC) Formula, and all participants will be provided with a set of comprehensive reference materials created for use at Financial Aid Nights, FAFSA Completion Workshops, and throughout the school year.
- Understanding Financial Aid Packaging (March - April) – Registration Begins February 6th
Would you like to help your students identify a good financial aid package? Next spring, we will offer "Understanding Financial Aid Packaging" sessions to help you help your students and their families decipher award letters and compare aid packages, thereby allowing them to identify the best college fit. With the assistance of Financial Aid Directors from across Illinois, we will provide you with the basics of financial aid packaging as well as comprehensive consumer education for higher education.
How to Register
Registration details, including dates and locations, will be available online from the front page of the Counselor Zone at collegezone.com beginning August 15th. We will also be sending e-Messages with the latest information and updates about this series of year-round training sessions. If you have colleagues who are not already e-Messaging subscribers, now is the perfect time for them to take advantage of its convenience. Encourage them to sign up through the front page of the Counselor Zone.
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Academic Competitiveness Grant Program - No Additional "Rigorous" Illinois Programs
Sent to Principals/Superintendents/Administrators and High School Counselors/Teachers on June 22, 2006.
As a follow-up to our May 4, 2006 e-Message regarding the U.S. Department of Education's (ED's) plans for implementation of the new Academic Competitiveness Grant Program [comprised of the Academic Competitiveness Grant (AC Grant) and the National Science and Mathematics Access to Retain Talent (SMART) Grant], we have some additional information to pass along to you. As explained in the earlier guidance provided by ED, one of the eligibility requirements for the grants is the "successful completion of an ED-recognized rigorous secondary school program of study." Identified in ED's guidance as options for students in meeting this requirement are the following:
- Receiving an Advanced or Honors diploma
- Completing a State Scholars Initiative Program
- Completing course requirements similar to the State Scholar Initiative requirements (4 years of English, 3 years of math, science, and social studies, and 1 year of a foreign language)
- Completing two Advance Placement (AP) or International Baccalaureate (IB) courses and receiving passing scores
According to information from the Illinois State Board of Education (ISBE), Illinois does not offer programs as described in options 1 and 2; consequently, any Illinois student qualifying for the grants would fall under either option 3 or 4. Additionally, although individual states were given the option to submit proposals to ED requesting that other types of programs be recognized as "rigorous", ISBE has informed us that Illinois did not submit a proposal by the June 1st deadline. As a result, Illinois students' eligibility will fall under options 3 or 4, as outlined by ED. At this point, it is still undecided whether ISBE will request that additional programs be recognized for academic year 2007-08; that deadline is November 1st.
If any of your students and their families are seeking more information about the grants, please refer them to the appropriate Zone of collegezone.com. All five Zones - Student, Parent, Counselor, FAA, and Lender - now include information about these federal grants.
Financial aid professionals can find a Q & A document about the new grants in the Federal Information area of the e-Library. A second Q & A document, designed as a follow-up to ISAC's recent HERA Conference Call trainings, also containing information about these grants, will be posted to collegezone.com in the near future. Be watching the Message Board of your Zone for the announcement.
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New Student Loan Interest Rates Effective July 1st
Sent to High School Couselors/Teachers, College Admission Counselors and Community Organizations on June 2, 2006.
The U.S. Department of Education (ED) has released an Electonic Announcement itemizing the interest rates for fixed rate and variable rate Federal Family Education Loan Program (FFELP) Stafford and PLUS loans, effective July 1, 2006.
Loans with first dibursements on or after July 1, 2006:
- 6.80% (fixed rate) for Federal Stafford subsidized and unsubsidized loans during in-school, grace, repayment, deferment and forbearance periods
- 8.50% (fixed rate) for Federal PLUS loans
Loans with first disbursements between July 1, 1998 and June 30, 2006:
- 6.54% (variable rate through June 30, 2007) for Federal Stafford subsidized and unsubsidized loans during in-school, grace and deferment periods
- 7.14% (variable rate through June 30, 2007) for Federal Stafford subsidized and unsubsidized loans during repayment and forbearance periods
- 7.94% (variable rate through June 30, 2007) for Federal PLUS loans
Further details - including interest rates for Federal Consolidation Loans - are available in the Electronic Announcement, or on College Zone's Interest Rates page.
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IllinoisMentor Counselor Center Traning Available on College Zone
Sent to High School Counselors/Teachers and Community Organizations on May 12, 2006.
A Web-based training presentation on the IllinoisMentor Counselor Center is now available on College Zone. This one-hour session is an archive of the April 28, 2006 Web Conference training session which provided an overview of the counselor account set-up process, the student invitation process, student management tools and communication tools. The presentation also provides an opportunity to hear questions and answers that were discussed during the session.
To access this online training, visit the Counselor Zone home page and click on the Counselor Center Training link in the Quick Link column, or visit the Partner Training or Conference Call Presentations sections of the e-Library.
Also available on College Zone is a PowerPoint presentation that was given at the 2005 Fall Update Sessions. It provides an overview of both IllinoisMentor and the Counselor Center and is available in the Seminar Presentations section of the e-Library.
If you have questions about the Counselor Center or would like additional training or assistance, please contact Armando Rodriguez, High School Account Manager at XAP Corporation, at 800.290.7525 or armando@xap.com.
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Mark Your Calendars for Upcoming Important Dates
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on May 11, 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 and their families.
HIGH SCHOOL SCHOLARSHIP PROGRAMS (HSSP)
Visit the HSSP Program News section at collegezone.com frequently for the latest status updates.
May 19th – Corrections to 2006-07 Merit Recognition Scholarship (MRS) Potential Awardees Rosters, along with completed High School Certification Forms, are due to ISAC from high schools. If no corrections are necessary, the completed Certification Forms are still due. Additional information is available within the Potential MRS Awardees section at collegezone.com.
As was previously announced, on May 4th the Illinois General Assembly passed the fiscal year 2007 budget for all State activities, including ISAC-administered programs. While the budget is not yet considered final, pending the governor's signature, it should be noted that the MRS Program is not funded in the budget for the second straight year.
July 15th – Deadline for 2006-07 Robert C. Byrd Honors Scholars to return the Eligibility Certification form to ISAC, so that their college will be able to request payment on their behalf for the fall term. Additional information is available within the Award Determination and Notification for the Byrd Scholarship section at collegezone.com.
August 11th – Deadline by which high schools must submit school-generated sixth semester rosters (used to determine 2007-08 awards) in order to prevent ISAC from generating a roster at a later date. Special care should be taken to ensure that only sixth semester data is submitted (sixth semester is defined as the third semester prior to graduation). Additional information is available within the Required Sixth Semester Data section at collegezone.com.
MAPPING YOUR FUTURE CHAT EVENT
May 16th – Financial Aid and Managing Student Loans and Consumer Debt
On Tuesday, May 16, 2006, Mapping Your Future will offer a "Financial Aid and Managing Student Loans and Consumer Debt" chat from 6 to 7 p.m. (CT). The chat is designed to help students obtain information about debt management.
During this "Financial Aid and Managing Student Loans and Consumer Debt" Chat Event, participants will learn about:
- the Free Application for Federal Student Aid (FAFSA),
- financial aid programs,
- student loan repayment options,
- credit cards,
- credit reports, and
- budgeting.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Counselor Quick Links" menu that appears along the right margin of the Counselor 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 - which includes the chat schedule through August 2006 - is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page.
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.
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.
HOLIDAY SCHEDULES
ISAC offices will be closed on these dates in order to commemorate the following holidays:
- Monday, May 29, 2006 - Memorial Day
- Tuesday, July 4, 2006 - Independence Day
You can continue to access information at collegezone.com 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 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).
A complete listing of 2006 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar.
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ISAC Budget & Legislative Update
Sent to Principals/Superintendents/Adminstrators and High School Counselors/Teachers on May 8, 2006.
The Illinois General Assembly concluded its Spring session late on Thursday, May 4th, nearly a full month after the planned adjournment. Among the business completed was the passage of the fiscal year 2007 budget for all State activities, including ISAC-administered programs. While the budget is not yet considered final, pending the governor's signature, most of our scholarship and grant programs maintained level funding, with the appropriation for the Monetary Award Program (MAP) actually increasing by $34.4 million, bringing the total MAP appropriation to $384.8 million. The increase in MAP funding is supported by state appropriated monies of $7.6 million and $26.8 million from revenues generated either by the sale of ISAC student loan assets, transaction processing or refinancing. Additionally, funding for the Silas Purnell Illinois Incentive for Access Grant Program increased by $1 million, the Dependents Grant Programs received an increase of $120,000, and funding was included for three new programs: MAP Plus, the Nurse Educator Scholarship Program and the Forensic Science Grant Program. It should be noted that the Merit Recognition Scholarship (MRS) Program is not funded in the budget for the second straight year.
A small number of other bills affecting Illinois students and their families were considered during the session. The bill that would have provided an additional 30 credit hours of MAP eligibility to students who were required to complete remedial courses was not passed by the General Assembly. House Bill 4406, which creates a new grant program to be administered by ISAC for students in the legal custody of their grandparents, has passed the General Assembly and awaits the governor's signature. This program, however, was not funded in the FY2007 budget, and would not be in effect until January 1, 2007, at the earliest.
More specific details about the FY2007 budget, including information about the three new programs, are available through the State Legislative Update posted at collegezone.com. We will continue to keep you apprised as the bills passed by the General Assembly are acted upon by the governor.
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ED Issues Guidance for Academic Competitiveness Grant Program
Sent to Principals/Superintendents/Adminstrators and High School Counselors/Teachers on May 4, 2006.
As a follow-up to Dear Colleague Letter GEN 06-04, the U.S. Department of Education (ED) has issued guidance that describes how they intend to implement the new Academic Competitiveness Grant Program which was created as a result of the Higher Education Reconciliation Act (HERA) of 2005. The guidance was issued in the form of a Letter to Chief State School Officials and State Higher Education Agencies. The new program consists of two types of grants for certain Pell Grant-eligible students – the Academic Competitiveness Grant (AC Grant) and the National Science and Mathematics Access to Retain Talent (SMART) Grant.
One of the eligibility requirements for students for these grants is the successful completion of an ED-recognized rigorous secondary school program of study. In its guidance, ED has defined four options for students in meeting this requirement. These options, which are described in detail in the Attachment to the Letter, are:
- Receiving an Advanced or Honors diploma;
- Completing the required coursework under the State Scholars Initiative program (4 years of English; 3 years of math; 3 years of lab science; 3-1/2 years of social studies; and 2 years of a language other than English);
- For states that do not participate in the State Scholar Initiative, completing a set of coursework similar to the requirement of this Initiative;
- Completing two Advanced Placement (AP) or International Baccalaureate (IB) courses and receiving passing scores on the AP or IB tests.
States can submit proposals to ED identifying any additional secondary school programs of study that they would like ED to recognize as rigorous secondary programs of study. Illinois State education officials are working to identify any possible options, in addition to those identified by ED, that could make Illinois students eligible for these new grant programs.
In addition to the Letter issued, a Fact Sheet with information about the two grant programs is also available.
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ISAC to Pay Default Fee on Behalf of Borrowers
Sent to High School Counselors/Teachers and College Admission Counselors on April 28, 2006.
ISAC is pleased to announce that we will pay the 1% default fee (previously the guarantee fee) for all ISAC-guaranteed Federal Stafford and PLUS loans for the 2006-07 academic year. Although the recently enacted Higher Education Reconciliation Act of 2005 requires guarantors to assess this fee and deposit it into the Federal Student Loan Reserve Fund for loans guaranteed on or after July 1, 2006, ISAC has chosen to pay this fee on behalf of borrowers rather than pass the cost on to students and their families.
Maintaining a policy that began in July of 1999, paying this fee on behalf of borrowers reduces the cost of borrowing and results in a greater percentage of loan proceeds being available to offset educational expenses. This subsidy is estimated to save Illinois student loan borrowers and their families $13 million per year, or approximately $50 per loan.
This benefit for borrowers, as well as all other agency programs and activities which facilitate access to education, are supported solely by ISAC's loan operations. All state funds allocated by the General Assembly are awarded to students and paid directly to colleges and universities on their behalf. Therefore, we greatly appreciate the support received through participation in ISAC's loan programs, as the revenue generated is reinvested into programs and benefits for students.
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ISAC Loan Options Expand for Graduate Students
Sent to High School Counselors/Teachers, College Admission Counselors and Community Organizations on April 26, 2006.
Previously available only to parents of undergraduate college students, the Federal PLUS Loan Program, as part of the Federal Family Education Loan Program, has now been expanded to include graduate and professional students, giving those pursuing advanced degrees more options for financing their higher education. This new category of student loan borrowers is a result of the recently enacted Higher Education Reconciliation Act of 2005 (HERA).
The expansion of the Federal PLUS Loan Program will begin with loans certified by the college on July 1, 2006, at which time students classified at the graduate level by their colleges will be able to borrow Federal PLUS loans guaranteed by the Illinois Student Assistance Commission (ISAC). Here's how the loans will work:
- ISAC will accept and immediately process loan applications for this new group of borrowers beginning on July 3rd.
- Like parents borrowing PLUS loans, graduate and professional students with no adverse credit history will be eligible to borrow an amount equal to the difference between the cost of attendance and any expected financial aid.
- Eligibility for both subsidized and unsubsidized Stafford loans will be determined by the student's completion of the Free Application for Federal Student Aid (FAFSA) before consideration of a PLUS loan.
- Graduate students will apply using the current Federal PLUS Loan Application and Master Promissory Note, and an addendum provided by the U.S. Department of Education.
- The interest rate is fixed at 8.5%.
- Repayment on the Federal PLUS loan for graduate students will begin within 60 days after the final loan disbursement, although students will be eligible for an in-school deferment.
- The student is responsible for interest payments during the deferred period.
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Reminder - Counselor Center Training for IllinoisMentor!
Sent to High School Counselors/Teachers and Community Organizations on April 20, 2006.
To learn more about the IllinoisMentor Counselor Center, how it works, its benefits and features, you are invited to participate in a free, one-hour Web-based training session on any of the following dates:
- Tuesday, April 25 at 3 p.m.
- Friday, April 28 at 10 a.m.
- Wednesday, May 3 at 11 a.m.
To participate, all you need is a computer with Internet access and a telephone!
If you are interested in participating in one of these training sessions, please contact Kim Eck, ISAC Training Coordinator, at keck@isac.org, or 217.785.7139 and make your reservation today!
For more information on this free Web-based training session visit the Counselor Zone News You Can Use page at collegezone.com.
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New Cycle Underway for High School Scolarship Programs
Sent to Principals/Superintendents/Adminstrators and High School Counselors/Teachers on April 19, 2006.
The following are upcoming important dates for the State Scholar, Merit Recognition Scholarship (MRS), and Robert C. Byrd Honors Scholarship programs [collectively referred to as the High School Scholarship Programs (HSSP)].
New Cycle for HSSP (Determining Eligibility for 2007-08 College Freshmen)
ISAC is currently accepting sixth semester data from high schools, which is used in determining eligibility for students who will be college freshmen during the 2007-08 academic year.
April 11th thru August 11th - ISAC is currently accepting school-generated sixth semester rosters, and recently sent an overview letter that serves as a reminder of the delivery process and timeframes for the 2007-08 HSSP cycle. The letter announced that sixth semester data must be submitted to ISAC on or before August 11, 2006 to prevent ISAC from generating a roster at a later date. Special care should be taken to ensure that only sixth semester data is submitted (sixth semester is defined as the third semester prior to graduation).
Instructions regarding school-generated sixth semester rosters, including required data and requested disqualification codes, are provided at the School-Generated Roster page at collegezone.com. Access this page from the Required Sixth Semester Data portion of the High School Scholarship Programs (HSSP) section that is located within the Counselor Zone's ISAC Gift Assistance Programs area.
Current Cycle for HSSP (Determining Eligibility for 2006-07 College Freshmen)
By May 1st - 2006-07 Robert C. Byrd Honors Scholars will be be announced.
May 19th - Corrections to 2006-07 MRS Potential Awardees Rosters, along with completed High School Certification Forms, are due to ISAC from high schools. If no corrections are necessary, the completed Certification Forms are still due.
Summer 2006 - Once the Governor and Illinois General Assembly finalize the budget, ISAC will announce 2006-07 MRS final awardees. (At this time, it is unknown whether this program will be funded for the 2006-07 academic year.)
Look for further information regarding anticipated HSSP activities by frequently reviewing the Program News section of the HSSP area, and also watch for future e-Messages.
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Free Web-Based IllinoisMentor Training Being Offered to High School Counselors
Sent to High School Counselors/Teachers and Community Organizations on April 13, 2006.
Are you looking for ways to “connect” with your students? Do you need help organizing your student data? Are you looking for student management tools that can save you valuable time?
The IllinoisMentor Counselor Center provides tools that can help you do all that and much more! To learn about the benefits and features and how they work, you are invited to participate in a free, one-hour Web conference training session on one of the following dates:
- Tuesday, April 25 at 3 p.m.
- Friday, April 28 at 10 a.m.
- Wednesday, May 3 at 11 a.m.
All you will need to participate in one of these Web conferences from the comfort of your office is access to a computer, the Internet and a telephone … no other software or special equipment is needed.
Through a Web-based PowerPoint presentation you will be able to view the tools in the Counselor Center while listening to a live audio explanation of how they work. Each Web conference will provide an overview of the counselor account set-up process, the student invitation process, student management tools and communication tools, and will conclude with a question and answer session.
If you are interested in participating in one of the Web conferences, please send an e-mail message indicating which day you plan to participate to Kim Eck, ISAC Training Coordinator, at keck@isac.org at least one day prior to the Web conference date. If you do not have access to e-mail, you may sign-up for the Web conference by contacting Kim Eck at 217.785.7139.
On the day prior to your scheduled Web conference, instructions for participation, including the Web site address, access code and toll-free dial-in information, will be provided via e-mail (or by phone for those without e-mail).
In the meantime, we recommend that you spend some time exploring IllinoisMentor and the Counselor Center, and create your free counselor account if you haven't already done so. (Signing up for a counselor account is not a requirement for participation in the Web conference.) If you have questions about the Counselor Center, please call 800.290.7525.
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ISAC Communiqué
New ISAC Communiqué Available at College Zone
Sent on April 3, 2006
The latest “electronic-only” edition of the ISAC Communiqué is now available for your review within the ISAC Publications section of College Zone's e-Library. This electronic version of ISAC's newsletter is a quarterly compilation of information provided to Counselor Zone partners via College Zone's e-Messaging service during the months of October, November and December.
Topics covered in this electronic Communiqué include:
- Promotional Kit/Computer Give-away
- Mark Your Calendar for Upcoming Important Dates
- "FAFSA" Expert Trainings Scheduled for First Week of February - Register Today!
- 2006-07 FAFSA, Mapping Your Future Chat Event and Martin Luther King Jr. Day
- Governor Blagojevich Proposes Tax Credit for Residents Enrolled in Illinois Colleges
- New ISAC Communiqué Available at College Zone (January - March 2006)
Electronic newsletters are available at the beginning of each quarter (January, April, July, and October), and are the compilation of information announced via an e-Message to any of the Counselor Zone subscription groups during the previous quarter.
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