 |
VOL. 24, NO. 2L
August 2006
Welcome to the August 2006 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout August. This e-Messaging service has replaced ISAC's use of printed newsletters 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 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 800.477.4411 and speaking with one of the following staff members:
- Sharon Bankston, extension 2826
- David Barinholtz, extension 2822
- 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.
MULTIPLE SUBSCRIPTION GROUPS
New Toll-Free Number for ISAC's Lenders & Servicers Now Operational
Sent to Marketing News, Announcements and Operational Updates, Announcements on August 23, 2006
ISAC's Lender Communication Center is pleased to announce that our new toll-free telephone number - 800.477.4411 - is now operational and dedicated solely for use by our lenders and servicers. The new number provides more efficient access for responses to your inquiries.
We encourage lenders and servicers to call our new number with inquiries about loan guarantees, electronic processing [e.g., CommonLine and Common Account Maintenance (CAM)], lender manifest reporting and other lender issues. Lender Services representatives are ready to assist you by telephone between the hours of 8:30 a.m. and 5 p.m. (CT), weekdays, via e-mail at lenderservices@isac.org or by fax to 847.831.8549.
To contact staff who specialize in claim issues, such as claim filing, reimbursement and the post-reimbursement process, the lenderreimbursement@isac.org e-mail address should be used.
As a reminder, with the implementation of this new Lender Services number, calls to our Default Prevention Counselors should now be directed to 800.899.ISAC (4722).
Sent to Marketing News, Announcements and Operational Updates, Announcements on August 7, 2006
As part of our ongoing commitment to improved service and access for our partners, ISAC is currently upgrading its telephone system. Beginning in mid-August, you will be able to reach the Lender Services Department via a new toll-free telephone number - 800.477.4411. This number is dedicated solely to inquiries from our partners in the lending and servicing community, and will be answered by ISAC staff whose area of expertise is the administration of Federal Family Education Loan Program (FFELP) student loans.
Lenders and servicers are encouraged to use this number for the fastest and most effective access to the Lender Services Department. This new number, in conjunction with the Lender Services e-mail box (lenderservices@isac.org), form a communication center that will address inquiries regarding loan guarantees, electronic processing [e.g., CommonLine and Common Account Maintenance (CAM)], lender manifest reporting and more. Lender Services representatives are available by telephone between the hours of 8:30 a.m. and
5 p.m (CT), weekdays; the FAX number - 847.831.8549 - remains the same. To communicate directly with staff who specialize in claim issues, such as claim filing, reimbursement and the post-reimbursement process, the lenderreimbursement@isac.org
e-mail address should be used.
With the implementation of this new number for Lender Services, all student, parent and loan borrowers calls, including calls to our Default Prevention Counselors should be directed to our 800.899.ISAC (4722) number. Callers to this number will be given the option of speaking with a College Zone Counselor (general college and financial aid planning and ISAC program questions), a Default Prevention Counselor (teaching scholarship fulfillment questions and delinquent student loan borrowers seeking to prevent default) or a Spanish-speaking representative. College Zone Counselor call center hours are 8 a.m. - 5 p.m. (CT), weekdays and Default Prevention Counselors are available 8 a.m. - 6 p.m. (CT). College Zone and Default Prevention Counselors will also respond to e-mail inquiries at collegezone@isac.org and at proreq@isac.org, respectively.
A follow-up e-Message will be sent once the transition to our new phone system is complete.
Mark Your Calendar for Upcoming Important Dates
Sent to Marketing News, Announcements and Operational Updates, Announcements on August 2, 2006
The Illinois Student Assistance Commission (ISAC) would like to make you aware of the following information, which may be of interest to your student loan borrowers.
August 11th - August 20th: Illinois State Fair
Visit with ISAC staff in Campus Town at the 2006 Illinois State Fair in Springfield. Campus Town is open from 9 a.m. to 4 p.m., weekdays during the fair, which runs from August 11th through August 20th.
August 15th: Mapping Your Future Chat Event
On Tuesday, August 15, 2006, Mapping Your Future will offer a "Managing Your Student Loans - Including Repayment Options, Consolidation and Cancellation" chat from 6 to 7 p.m. (CT). Increasing tuition costs and limited financial aid resources have resulted in an increased reliance on student loans and other debt to pay for college. The chat is designed to help students obtain information about money and debt management.
During this "Managing Your Student Loans - Including Repayment Options, Consolidation and Cancellation" Chat Event, participants will learn about:
- avoiding student loan default;
- credit cards;
- credit reports;
- budgeting; and
- student loan consolidation and cancellation.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Lender Quick Links" menu that appears along the right margin of the Lender 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 July 2007 - 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.
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.
September 4th: Labor Day
Due to the Labor Day holiday, ISAC offices will be closed on Monday, September 4th and will reopen on Tuesday, September 5th.
Loan records received at ISAC on Labor 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 September 4th will be processed on September 5th, with results available September 6th (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 September 4th.
For Assistance
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 Lender 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.
Return to Top
MARKETING NEWS, ANNOUNCEMENTS
ISAC Kicks Off Hispanic Heritage Month
Sent on August 21, 2006 Join us as we celebrate the beginning of Hispanic Heritage Month (September 15 – October 15) with our annual financial aid training conducted in Spanish.
Spanish is the primary language spoken in more American homes than any other foreign language. Most students look to their parents for guidance in the college selection process. Unfortunately, many parents with limited English proficiency are unsure where to get information about the financial aid process and programs. As a result, their children, who may qualify for financial aid, often apply late or don't apply at all.
The Illinois Student Assistance Commission (ISAC) recognizes this can be a major obstacle in college planning for Spanish-speaking families and, based on feedback from the admission, guidance, and financial aid communities, developed a training event in preparing a financial aid night presentation in Spanish. Due to the extensive interest and positive feedback, this unique workshop conducted entirely in Spanish is being offered again.
If you, or someone in your school or organization, speak Spanish and are interested in learning more about the financial aid process in order to serve Spanish-speaking families, please join us:
Or
Space is limited. Register here now!
The agenda includes the following:
- a ready-to-use PowerPoint presentation complete with talking points;
- a review of the resources available in Spanish; and
- a question and answer period.
Tools and Resources
There are many services available in Spanish through College Zone.
Spanish-speaking College Zone Counselors can help students and parents with questions about planning, finding, applying and paying for college at 800.899.4722, Monday through Friday from 8 a.m. to 5 p.m.
Anyone can access collegezone.com in Spanish by selecting "Español" as the Zone option at the home page.
The College Illinois! Web site is also available in Spanish.
A number of brochures and presentations are offered in Spanish as follows:
College Selection/Financial Aid Checklist
College Zone Bookmark
College Illinois! Brochure
Financial Aid for a College Education Presentation
Return to Top
OPERATIONAL UPDATES, ANNOUCEMENTS
College Zone Outage - Sunday, August 27, 2006
Sent on August 24, 2006
Due to routine maintenance, some College Zone programs will be unavailable on Sunday, August 27th from 9 a.m. to noon (CT).
The impacted College Zone functions are:
- My Zone (including Illinois National Guard (ING) Announcement Rosters, Illinois Veteran Grant (IVG) eligibility data and Teacher Education Scholarship Program (TESP) award notification information)
- Meteor
Access to most areas of the collegezone.com Web site will not be affected during the outage period and will continue as usual. Access to My Zone and Meteor will be restored around noon on Sunday.
Protecting Private Data
Sent on August 9, 2006 With the ever-increasing emphasis on e-mail security as a means to protect our clients' personal and confidential data, we've implemented some changes to our agency Privacy Protection Policy which will impact the way information is transmitted to and from ISAC. By definition, we view private data as addresses, telephone numbers, dates of birth and Social Security Numbers (SSN's), or any combination of data that can identify a specific individual.
Effective immediately, the School Services and Lender Services Departments with whom you communicate regarding our student and parent clients will institute the following measures when corresponding via e-mail:
- the first five digits of the Social Security number will appear as X's (XXX-XX-), followed by the last four digits of the SSN; or
- the private data will be incorporated into a protected document or spreadsheet, and attached to an e-mail message. If a password-protected file is used, ISAC staff will communicate directly with the recipient via telephone to relay the pertinent password.
To further protect confidential data, checks are being performed on outgoing ISAC e-mail correspondence to ensure that compliance with the new policy is ongoing.
Because it's equally important that the data you send to us is protected, our preference is that you apply the same safeguards as outlined above when providing private client data to us. As necessary, other methods may be used as a protective measure. A Frequently Asked Questions (FAQ) document, with further explanation of strategies that can be used is currently being prepared and will be made available at a later date.
Return to Top
ISAC UPDATE
Electronic ISAC Update for July 2006 Available at College Zone
Sent on August 1, 2006 The July 2006 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 July via College Zone's e-Messaging service.
Topics covered in the July 2006 ISAC Update include:
- Commission Meeting to be Held Friday, July 28, 2006
(sent July 17, 2006)
- Revised FFELP Forms
(sent July 5, 2006)
- Electronic ISAC Update for June 2006 Available at College Zone
(sent July 3, 2006)
Return to Top
|
|
|
|
