2007-08 MAP Formula

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 22, 2007, the ISAC Commissioners approved the 2007-08 (FY2008) MAP recompute formula, which is the FY2008 start-up formula with thea 10% reduction factor eliminated.

Details of the FY2008 MAP recompute formula can be found below, and in the June 22, 2007 Agenda Book (Item 12).

2007-08 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. Changes from the start-up formula are shown in bold.

• Budget
  
  1. Use 2003-04 reported tuition and mandatory fees assessed at 100 percent at all institutions.
  2. Use one living allowance for all applicants, set to $4,875.

• Resources
  
  1. Use 80 percent of Pell Grant eligibility as determined by the 2003-04 Federal Pell Grant Payment Schedule, which contains a $4,050 maximum. 
  2. 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 placesAdjusted 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
     
  3. Use minimum self-help expectation of $1,800 for all students

• Annual Award Amounts 
  1. 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. 
• Do not apply any reduction factor.
• 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.

2007-08 Start-up Formula

Reminder: The 2007-08 recompute formula was approved by the Illinois Student Assistance Commission on June 22nd, with an implementation date of June 29, 2007.

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. Formula changes are shown in bold.

The reduced annual award maximum using the start-up formula was $4,471.

• Budget
  1. Use 2003-04 reported tuition and mandatory fees assessed at 100 percent at all institutions.  
  2. Use one living allowance for all applicants, set to $4,875.
      
• Resources
  1. Use 80 percent of Pell Grant eligibility as determined by the 2003-04 Federal Pell Grant Payment Schedule, which contains a $4,050 maximum.
  2. 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
     
  3. Use a minimum self-help expectation of $1,800 for all students.
       
• Annual Award Amounts
  1. 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. 
• Reduce all awards by 10 percent.
• 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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