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VOL. 24, NO. 4IGSL, 4B
October 2006
Welcome to the October 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 October. 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
Special Statement from ISAC Chairman McNeil Regarding Opinion from Illinois Attorney General
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 October 24, 2006 On October 20, 2006, Illinois Attorney General Lisa Madigan issued an opinion providing guidance to the Illinois Student Assistance Commission (ISAC) as it explores available options to increase revenue from existing assets. This opinion was provided in response to an earlier inquiry from the Honorable Richard P. Meyers, Minority Spokesperson of the Illinois House Appropriations - Higher Education Committee. The October 20th opinion is posted at the Illinois Attorney General Web site.
We are pleased to share a statement from ISAC Chairman Don McNeil regarding the Attorney General's opinion. Please see his statement on the ISAC Press Releases page at collegezone.com.
Registration Deadlines for ILASFAA Mid-Term Workshops Quickly Approaching!
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Program, MAPnet Users, Business Officers, and FFELP Participants on October 24, 2006 Don't forget that the Illinois Association of Financial Aid Administrators (ILASFAA) Training and Professional Development Committee is planning two Mid-Term Workshops for November. These two-day workshops are being offered in partnership with the Illinois Student Assistance Commission (ISAC), and will replace both the Winter Workshop that was previously held in February and the ISAC Fall Seminars for Financial Aid Administrators.
Specific details regarding the workshops are provided in an October 2nd e-Message, and also at the Training page of the ILASFAA Web site.
In order to receive the group rate, your hotel registration must be completed on or before Tuesday, October 31, 2006.
Please have your workshop registration and payment submitted on or before Wednesday, November 1, 2006.
We look forward to seeing you in November!
New Awards Announced for 2006-07 Teacher Education Scholarship Programs
Sent to Financial Aid Directors and Financial Aid Administrators on October 20, 2006 A third round of 2006-07 Teacher Education Scholarship Programs (TESP)* awarding took place on October 19, 2006. Award notifications have been mailed to eligible students and new eligible award information, including funded or unfunded status, is available to colleges online at My Zone. There are three award announcement categories for eligible students:
- Eligible - Funded - students who are eligible for an award;
- Eligible - Unavailable Funds - students who are eligible for the award, but for whom funds are not available; and
- Eligible - Unavailable Funds (IFTC Teachers Only) - students who are eligible for an award based on enrollment in a teacher education program, but for whom funds are not available.
* TESP includes the Illinois Future Teacher Corps (IFTC) and Minority Teachers of Illinois (MTI) Scholarship programs.
Accessing Award Information at My Zone
With TESP awards having been made on multiple dates (08/16/2006, 08/24/2006 and 10/19/2006), the filter functionality and pre-defined report that sort by "Status Date" (available within the Teacher Education Scholarship Programs (TESP) area at My Zone) may be used to help identify students that have recently been found eligible for an award. As a reminder, the "Status Date" matches the date on the student's award letter.
Access to My Zone
If your college has not yet signed up to participate in My Zone, which provides online access to student-specific data in a secure environment, access the FAA Zone front page, select the My Zone Quick Link and follow the instructions provided. Or if there's been a change in staff needing to access TESP, the My Zone Administrator for your campus should update access to TESP so staff will be able to view eligible student award notification data online.
 Mark Your Calendar for Upcoming Important Dates
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Program, MAPnet Users, Business Officers, and FFELP Participants on October 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.
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
College Illinois! enrollment, and reminders regarding upcoming operational dates
TRAINING OPPORTUNITIES AND OTHER EVENTS
Financial Aid 101 Workshops, ILASFAA Mid-Term Workshops, and October 17th Mapping Your Future Chat Event
HOLIDAY SCHEDULES
Processing schedules for upcoming holidays
UPDATES
October 15th: 2006-07 STS Summer Term Payment Claim Deadline
Student to Student (STS) Program of Matching Grant payment claims for the summer term are due on or before Sunday, October 15, 2006. Information is available at the Payment Procedures for STS page of the ISAC Gift Assistance Programs area.
October 23rd: 2006-07 College Illinois! General Enrollment Period Opens
The 2006-07 general enrollment period for the College Illinois! 529 prepaid tuition plan opens on Monday, October 23, 2006 and continues through April 24, 2007. Families can pre-enroll between now and October 23rd.
October 27th: 2006-07 Byrd Payment Request Rosters Due
Eligibility Certification/Payment Request Rosters for the 2006-07 Robert C. Byrd Honors Scholarship Program are due back to ISAC on or before Friday, October 27, 2006. Further details are provided at the Payment Procedures for the Byrd Scholarship page of the ISAC Gift Assistance Programs area.
TRAINING OPPORTUNITIES AND OTHER EVENTS
October 17th: Mapping Your Future Chat Event
On Tuesday, October 17, 2006, Mapping Your Future will offer a chat from 6 to 7 p.m. (CT), providing students with an opportunity to get answers to general financial aid, student loan, and money management questions.
At the time of the event, 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 - 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.
October 24th and October 26th - Financial Aid 101 Workshops
ISAC is offering Financial Aid 101: Building a Solid Foundation workshops on two dates in October. Each free, one-day workshop is designed to introduce new financial aid professionals to financial aid concepts, processes and programs, and help them develop a solid foundation on which to build their careers. Register online today!
November 8th-9th, and November 13th-14th - ILASFAA Mid-Term Workshops
The Illinois Association of Financial Aid Administrators (ILASFAA) Training and Professional Development Committee is planning two Mid-Term Workshops for November. These two-day workshops are being offered in partnership with ISAC, and will replace both the Winter Workshop that was previously held in February and the ISAC Fall Seminars for Financial Aid Administrators. Additional information, including the workshop agenda and registration details, is available at the Training page of the ILASFAA Web site.
HOLIDAY SCHEDULES
ISAC and the National Disbursement Network (NDN) offices will be closed on the following dates:
- Friday, November 10, 2006 (Veterans Day Observation)
- Thursday, November 23, 2006 (Thanksgiving Day)
- Friday, November 24, 2006 (Day after Thanksgiving)
- Monday, December 25, 2006 (Christmas Day)
- Monday, January 1, 2007 (New Year's Day)
Note that ELM Resources will continue to process and transmit files on all of the dates listed above.
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's School Services Department. With the exception of holidays (such as those indicated above), ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8 a.m. - 5 p.m. CT).
Processing Schedules
Click on the appropriate link(s) to access holiday processing schedules for loan records [CommonLine and Common Account Maintenance (CAM) files] and/or Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program records.
Financial Aid 101: Building a Solid Foundation -October 2006 Workshops
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Program, MAPnet Users, Business Officers, and FFELP Participants on October 6, 2006 The Illinois Student Assistance Commission will offer its Financial Aid 101: Building a Solid Foundation workshop twice in October. The dates and locations are:
- Tuesday, October 24 in ISAC's Deerfield Office, and
- Thursday, October 26 in ISAC's Springfield Office.
This free, full-day (9 a.m. to 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. The workshop will provide an overview of the following topics:
- basic financial aid principles,
- the Free Application for Federal Student Aid (FAFSA),
- need analysis and the Expected Family Contribution (EFC),
- federal financial aid programs,
- student loan basics, and
- ISAC's scholarship and grant programs.
For more details and to register online for the workshop, visit the Partner Training section of the e-Library at collegezone.com. Seating at each site is limited, so please register early.
If you have specific questions about the workshop or the registration process, please contact Kim Eck, Training Coordinator, at keck@isac.org.
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.
ISAC To Begin Accepting MAP Plus Payment Requests - MAPnet Will Be Temporarily Unavailable
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users, and Business Officers on October 3, 2006 Payment Requests To Be Accepted Starting October 5th
ISAC anticipates beginning to accept payment requests in MAPnet for the Monetary Award Program Plus (MAP Plus) around noon on Thursday, October 5, 2006. At the same time, payment requests for MAP Plus via File Transfer Protocol (FTP) will also be accepted.
In order for the 2006-07 MAPnet system to be updated to accept MAP Plus payment requests, the system will be unavailable beginning at 7 p.m. on Wednesday, October 4th continuing into Thursday, October 5th. A separate message will be sent to the MAPnet Users subscription group when the 2006-07 MAPnet system may again be accessed on October 5th. At that time, 2006-07 MAP Plus payment requests may be submitted.
Colleges should submit MAP Plus payment requests only for eligible applicants whose 2006-07 Free Application for Federal Student Aid (FAFSA) was received on or before September 18, 2006 (as a reminder, a September 18th
e-Message announced that records received on or after September 19th will be held until ISAC has enough claim data to confirm whether we have met our goal of awarding 71,000 MAP Plus grants).
Claim Deadlines and Timing of Payments to Colleges
Payment claim deadline dates have not been established yet and will be a topic for consideration at a future Commission meeting. In the meantime, you are encouraged to submit your MAP Plus payment requests as soon as possible, in order to allow us to determine if we have fully met our awarding goal.
As you know, MAP Plus will be funded from restructuring or selling part of the student loan portfolio now held by ISAC/IDAPP and other efforts to maximize the revenue ISAC generates. It is anticipated that the transactions under consideration to fund the program will be completed by the end of 2006 or early 2007. An announcement will be made after that time regarding when MAP Plus funds may be sent to colleges.
In order to remain up-to-date on this program, please refer to MAP Plus Program News within the ISAC Gift Assistance Programs section of the FAA Zone.
Making the Most of ISAC's My Zone Portal
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs, and FFELP Participants on October 3, 2006 Here are some tips and reminders for colleges currently utilizing ISAC's My Zone portal in the FAA Zone, as well as information for those that have yet to register.
Already Using My Zone?
In order to get the most benefit from My Zone:
- Make sure that your college has two Administrator accounts (ideally, one account for the Financial Aid Office and the other account for the Bursar's Office). By establishing two Administrator accounts, you'll always have a back-up in case one administrator is unavailable or forgets the password. Instructions for establishing an administrator can be found online at the Assigning a My Zone Administrator page.
- Verify that, based on their duties, staff members sign up for the appropriate College Zone e-Messaging subscription groups. As new information and/or data becomes available regarding the following My Zone programs, messages are typically sent to the groups indicated:
- Federal Family Education Loan Program (FFELP): FFELP Participants
- Illinois National Guard (ING) Grant Program: Public Schools
- Illinois Veteran Grant (IVG) Program: Public Schools
- Teacher Education Scholarship Programs (TESP): Financial Aid Administrator and Financial Aid Director
- As needed, based on changes in staff working with any of the My Zone programs, ask the My Zone Administrator(s) for your campus to update access so staff will be able to view the appropriate data online. Instructions are available in the "Step Four: My Zone User Maintenance" section of the Assigning a My Zone Administrator page.
- Remember that information regarding general questions, User Name and Password maintenance, and technical issues is available online at the My Zone Frequently Asked Questions (FAQ's) page.
Haven't Signed Up Yet?
My Zone is a portal available at collegezone.com that allows colleges online access to data inquiries, eligibility announcements and payment requests for ISAC-administered programs. The benefits of using My Zone include the following:
- Data is available in a secure environment.
- There is no need for multiple "sign-on" codes for access to data for multiple ISAC-administered programs.
- Data can be transferred easily to each participating college's system.
Details regarding the ISAC-administered programs that make up the My Zone portal are provided at the My Zone Programs page.
If your college has not yet signed up to participate in My Zone, access the FAA Zone front page, select the My Zone Quick Link and follow the instructions provided.
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FINANCIAL AID ADMINISTRATORS
New Entrance & Exit Counseling Brochure
Sent on October 3, 2006
We are pleased to introduce a new addition to our brochure library. Entitled Borrowing & Repayment - Know How Student Loans Work - this new brochure is actually a combination of our previous Life Begins with College and Life After College brochures. Containing all of the information colleges are required to provide to students at the beginning and end of their college years, Borrowing & Repayment can be used during both entrance and exit loan counseling sessions. Now all the information is in one place, so it's simpler for everyone - one less brochure for busy financial aid staff to keep on hand, and one less brochure for busy student loan borrowers to keep track of!
Borrowing & Repayment is available now through the Order Materials area of collegezone.com. Order your supply today and replace any of the old Life Begins with College and Life After College brochures you may have in your offices.
Upcoming Mid-Term Workshops from ILASFAA and ISAC
Sent on October 2, 2006
The Illinois Association of Financial Aid Administrators (ILASFAA) Training and Professional Development Committee is planning two Mid-Term Workshops for November. These two-day workshops are being offered in partnership with the Illinois Student Assistance Commission (ISAC), and will replace both the Winter Workshop that was previously held in February and the ISAC Fall Seminars for Financial Aid Administrators.
The workshops will be offered at one upstate and one downstate location, with the same sessions being presented at each:
The following is a sampling of the interest sessions that will be offered:
- Verification
- Federal Science and Mathematics Access to Retain Talent (SMART) Grant and Federal Academic Competitiveness Grant (ACG)
- Higher Education Reconciliation Act of 2005 (HERA) Updates
- Alternative Loans
- Professional Judgment/Independent Overrides
- ISAC Update
- Return of Title IV Funds
- ISAC Electronic Tools
- Online Financial Aid Resources
The cost for the workshops will be $25 for the first person from your institution, $20 for the 2nd, and $15 for each additional staff member.
The hotel rate at Collinsville is $85 a night, and Tinley Park is $95 a night.
Additional information, including the workshop agenda and registration details, are available at the Training page of the ILASFAA Web site.
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PUBLIC SCHOOLS - PARTICIPATING INT HE ING GRANT AND IVG PROGRAMS
2006-07 Fall Term ING Grant Payment Requests Due November 24th
Sent on October 25, 2006
2006-07 fall term Illinois National Guard (ING) Grant Payment Request Rosters and Certification Forms were mailed to colleges on Wednesday, October 25th. The roster, which includes all qualified applicants whose ING Grant Program applications were received by October 1st, is a list of students who may be considered for a full-year award at your college. The roster and Certification Form are due back to ISAC on or before November 24, 2006. Any initial fall term payment requests submitted after this date will be placed in lower priority consideration for payment.
An ING Supplemental Payment Request Form and an ING Out-of-District Tuition Claim Form were also included in the October 25th mailing. Out-of-district claims must be returned on or before November 24, 2006. Supplemental requests must be returned to ISAC on or before December 9, 2006.
Further details regarding the ING Grant payment process are available at the Payment Procedures for the ING Grant page, located within the ISAC Gift Assistance Programs area at collegezone.com.
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MAPNET USERS
2006-07 MAP Plus Payment Requests Being Accepted
Sent on October 5, 2006
ISAC is pleased to announce that Monetary Award Program Plus (MAP Plus) payment requests are now being accepted via MAPnet and File Transfer Protocol (FTP). The 2006-07 MAPnet system is again available.
The 2006-07 MAP Automated Delivery Process File Specifications document has been updated to reflect MAP Plus fields, and can be accessed via the e-Library's Electronic Tools page.
As a reminder, information regarding MAP Plus payment processing (including which records are being held, payment claim deadlines, and the timing of payments to colleges) was provided in an October 3rd e-Message and can also be found in the MAP Plus section in the FAA Zone.
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FFELP PARTICIPANTS
Latest School DAAR Report Available
Sent on October 3, 2006 and on October 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.
New Entrance & Exit Counseling Brochure
Sent on October 3, 2006
We are pleased to introduce a new addition to our brochure library. Entitled Borrowing & Repayment - Know How Student Loans Work - this new brochure is actually a combination of our previous Life Begins with College and Life After College brochures. Containing all of the information colleges are required to provide to students at the beginning and end of their college years, Borrowing & Repayment can be used during both entrance and exit loan counseling sessions. Now all the information is in one place, so it's simpler for everyone - one less brochure for busy financial aid staff to keep on hand, and one less brochure for busy student loan borrowers to keep track of!
Borrowing & Repayment is available now through the Order Materials area of collegezone.com. Order your supply today and replace any of the old Life Begins with College and Life After College brochures you may have in your offices.
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ISAC UPDATE GROUP
Electronic ISAC Update for September 2006 Available at College Zone
Sent on October 2, 2006 The September 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 financial aid administrators and business officers in September via College Zone's e-Messaging service.
Topics covered in the September 2006 ISAC Update include:
- ISAC Executive Director Larry Matejka
Announces Retirement
(sent September 19, 2006)
- Commission Meeting to be Held Friday, September 29, 2006
(sent September 19, 2006)
- Important Update about 2006-07 MAP Plus
(sent September 18, 2006)
- MAPnet Enhanced to Include MAP Plus
(sent September 14, 2006)
- Program Update Conference Calls to be Offered This Month
(sent September 12, 2006)
- Play Your Cards Right: Don't Gamble with Your Credit - National Credit Education Week
(sent September 11, 2006)
- Operational Information for 2006-07 MAP Plus
(sent September 5, 2006)
- Latest School DAAR Report Available
(sent September 5, 2006 and September 18, 2006)
- Electronic ISAC Update for August 2006 Available at College Zone
(sent September 1, 2006)
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