 |
{ISAC Rules, Section 2735.30}
The MAP formula is used to distribute the appropriated grant funds so that the neediest students receive grant assistance. Several components are used to determine eligibility.
ISAC establishes a preliminary, or “start-up,” MAP formula each spring for the upcoming school year. Historical data on enrollment attrition, the anticipated volume of applications and the best estimate of ISAC’s MAP appropriation are all used to determine the MAP start-up formula.
During the summer, after final school budgets are submitted to ISAC and after the appropriation for the program has been determined by the Illinois General Assembly and signed by the Governor, the start-up formula is re-evaluated and a process called “recompute” is begun. During the recompute process, any changes to the formula proposed by ISAC and the ISAC/ILASFAA Formula Committee may be incorporated, as well as adjustments to the budget to reflect current year tuition and fees, based on the MAP appropriation.
|
|
|
|
