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Each year the Illinois Student Assistance Commission (ISAC) is responsible for adopting an allocation formula for the Monetary Award Program (MAP). In January, the Commission acts on a "start-up" formula that is used to begin making award announcements for students applying for the upcoming fall term. Typically, once the Governor and General Assembly take final action on the budget, the Commission revisits the formula in June or July and takes action to approve a "recompute" formula.
On June 27, 2008, the ISAC Commissioners approved the 2008-09 (FY2009) MAP recompute formula, which retains the FY2009 start-up formula, due to expected level funding for MAP.
On January 25, 2008, the ISAC Commissioners approved the
2008-09 (FY2009) MAP start-up formula, which is the same as the 2007-08 (FY2008) recompute formula. The maximum annual award amount for a MAP grant in 2008-09 is $4,968.
2008-09 Start-Up/Recompute Formula
Unless otherwise noted, all calculations should be rounded to the nearest whole dollar upward from .500 and downward from .499. As a reminder, students who have been paid for 75 or more MAP Paid Credit Hours must attain junior status for MAP grant eligibility to resume. Students who have been paid for 135 or more MAP Paid Credit Hours are not eligible for MAP.
- Budget
- Use 2003-04 reported tuition and mandatory fees assessed at 100 percent at all institutions.
- Use one living allowance for all applicants, set to $4,875.
- Resources
- Use 80 percent of Pell Grant eligibility as determined by the 2003-04 Federal Pell Grant Payment Schedule, which contains a $4,050 maximum.
- Calculate the ISAC adjusted Expected Family Contribution (EFC) by inflating the Federal EFC.
Adjusted Dependent Students' Parent Contribution:
Adjustment Factor = [PC/11,000 + 1.10] rounded to two decimal places
Adjusted PC = PC x Adjustment Factor
Adjusted Independent Student Contribution:
Adjustment Factor = [EFC/11,000 + 1.10] rounded to two decimal places
Adjusted EFC = EFC x Adjustment Factor
- Use minimum self-help expectation of $1,800 for all students
- Annual Award Amounts
- Set the maximum award equal to the lesser of $4,968 or the tuition and mandatory fees specified in the budget. Set the minimum award to $300, and round maximum eligibility in $150 increments to calculate partial awards.
- Provide no award for applicants who have an EFC of 9,000 or greater.
- Students who have used 75 or more MAP Paid Credit Hours must be a junior or senior to be eligible for MAP.
Students who have used 135 or more MAP Paid Credit Hours are not eligible for MAP.
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