| collegezone.com | Print page | Close window | |
| |||
| |||||||||
|
April 2007
Welcome to the April 2007 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 April. 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 State Legislative Update Posted (April 30, 2007) ISAC staff will continue to monitor the progress of all bills relating to higher education throughout the remainder of the spring session. Be sure to check collegezone.com periodically for updated State Legislative Updates.
Results of Latest 2006-07 MAP Plus Payment Run (April 27th) Now Available in MAPnet Payment Results Available at MAPnet MAP Plus payment results are available to view on MAPnet screens and reports as of today (Monday, April 30th). Payment results will appear on the Student Detail: MAP Plus screen as well as the PLS Payment Results Report. MAP Plus payment results may also be retrieved via the Payment Results File Extraction. Please see the 2006-07 MAP 160 Byte File Layout Specifications for details on where the MAP Plus information may be found on the extract file. Priority Payment Claim Deadline Dates June 1, 2007 is the claim deadline for third quarter, and for second semester at schools where the second semester began after February 15th. Further details regarding MAP Plus payment claim deadline dates are provided at the MAP Plus Payment page at collegezone.com. As a reminder, the April 1st claim deadline has passed for first semester/quarter, second semester (for schools where the second semester began on or before February 15th) and second quarter. New Payment Requests Schools that have not already done so are encouraged to submit their MAP Plus payment requests for third quarter, and for second semester at schools where the second semester began after February 15th. The next payment runs are currently planned as follows:
As a reminder, award announcements for applications submitted after September 18, 2006 continue to be held. Questions? If you have questions regarding the release of MAP Plus payments, please contact a School Services Representative as indicated below.
State Legislative Update Posted April 25, 2007, reflects activity which has taken place thus far during the 95th Illinois General Assembly spring session. It can also be accessed through College Zone's e-Library, #13, ISAC Announcements, Press Releases & State Legislative Updates. Some items of note that have been added or revised since the last Update include the introduction of HB 2201 and HB 2214. If approved, the bills would establish a bilingual teacher scholarship and give ISAC responsibility for administration of the application process for the General Assembly Scholarship, respectively. ISAC staff will continue to monitor the progress of these bills, as well as all others relating to higher education, throughout the remainder of the spring session. Be sure to check collegezone.com periodically for updated State Legislative Updates.
How Temporary Suspension of Online Access Impacts ISAC's Submission of Student Loan Data to NSLDS ISAC's monthly submissions to NSLDS, which update the loan data that is viewable by colleges and students/borrowers, and reported on Institutional Student Information Records (ISIR's), will not be interrupted. Until online NSLDS access has been restored, however, ISAC will be unable to make manual updates between submissions. In the interim, we will provide information on ISAC letterhead of the data that will be sent to NSLDS so that the financial aid awarding process can continue unimpeded. Colleges can request such letters by contacting ISAC's School Services Department as indicated at the bottom of this message. NSLDS access by colleges and students/borrowers is not affected.
Money Smart Week Chicago - April 30 - May 5, 2007 The Financial Literacy Department at ISAC has long sponsored student educational programs regarding consumerism. As a partner in this activity, we are asking that you inform your student population about Money Smart Week Chicago by using the promotional materials that ISAC recently mailed to Illinois colleges. You can also encourage students to review the 2007 Chicago Money Smart Week calendar of events to search over 300 financial education events by date, topic, or neighborhood. The calendar may be accessed by visiting chicagofed.org/moneysmart, clicking on the Chicago option, and then choosing the online calendar. If your school has a means of communicating with students electronically (for example, via a student Listserv or group e-mail distribution), that would be an excellent way to make your student body aware of Money Smart Week Chicago events. During Money Smart Week Chicago, ISAC is collaborating with the City Colleges of Chicago to promote "College Financial Aid 101" sessions for college-bound students. ISAC will present information regarding college tuition management, including grants, scholarships, student loans, College Illinois! (529 pre-paid tuition plan), Illinois Designated Account Purchase Program (IDAPP) loan consolidation, and student loan default prevention programs and services. Supplemental materials, containing valuable information, will be available. Dates and times for the "College Financial Aid 101" sessions are listed below, as well as at the online calendar:
If you need further information, please visit us at collegezone.com.
Results of Latest 2006-07 MAP Plus Payment Run (April 13th) Now Available in MAPnet Payment Results Available at MAPnet MAP Plus payment results are available to view on MAPnet screens and reports as of today (Monday, April 16th). Payment results will appear on the Student Detail: MAP Plus screen as well as the PLS Payment Results Report. MAP Plus payment results may also be retrieved via the Payment Results File Extraction. Please see the 2006-07 MAP 160 Byte File Layout Specifications for details on where the MAP Plus information may be found on the extract file. Priority Payment Claim Deadline Dates June 1, 2007 is the claim deadline for third quarter, and for second semester at schools where the second semester began after February 15th. Further details regarding MAP Plus payment claim deadline dates are provided at the MAP Plus Payment page at collegezone.com. As a reminder, the April 1st claim deadline has passed for first semester/quarter, second semester (for schools where the second semester began on or before February 15th) and second quarter. New Payment Requests Schools that have not already done so are encouraged to submit their MAP Plus payment requests for third quarter, and for second semester at schools where the second semester began after February 15th. The next payment runs are currently planned as follows:
As a reminder, award announcements for applications submitted after September 18, 2006 continue to be held. Questions? If you have questions regarding the release of MAP Plus payments, please contact a School Services Representative as indicated below.
2007-08 Budget Packets Now Available Online - Due On or Before June 1, 2007 The annual process of gathering budget information from postsecondary institutions participating in the Monetary Award Program (MAP), and the Illinois Veteran Grant (IVG) and Illinois National Guard (ING) Grant programs is now underway. Once again schools have online access to the forms used to submit this information. The 2007-08 Gift Assistance Budget Packet allows schools participating in all three programs to enter their budget information on one form. Schools that participate only in MAP will complete the 2007-08 Monetary Award Program Budget Packet.
Delay in MAP Funds to Schools This situation is due to the fact that unlike in past years when MAP was funded through state-appropriated General Revenue Funds (GRF), this fiscal year, ISAC is legislatively mandated to provide a portion of the funding - $26.8 million - necessary to pay MAP grants. At this stage in the payment process, the available appropriation is depleted, necessitating future payments to be made from ISAC-provided funds. These funds will be generated through a second sale of a portion of ISAC/IDAPP's student loan portfolio, scheduled for later this spring. (The first sale of student loans provided the funding for the Monetary Award Program Plus [MAP Plus]). Depending on when the upcoming sale is completed, a delay in MAP funds reaching the school is a very likely result. In addition, ISAC will continue to hold claims received after the payment claim deadline dates for each term (i.e., late claims). An assessment will be made once the loan sale is complete as to whether they can be released for payment. As a reminder, make sure your institution is performing necessary and required reconciliation of MAP payments. Adjustments to students' awards must be reported to ISAC via MAPnet. Please continue to watch e-Messages and the FAA Message Board at collegezone.com for updated information.
Mark Your Calendar for Upcoming Important Dates 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 Operational dates and other announcements regarding ISAC-administered gift assistance programs MAPPING YOUR FUTURE CHAT EVENT Information on April 10th online chat HOLIDAY SCHEDULES Processing schedules for Memorial Day holiday UPDATES All links in this section launch pages located at collegezone.com. Program-Specific Information Status Update: Submitting TESP Initial Certification Document Data via My Zone As was previously announced, ISAC is developing functionality that will allow schools to submit Initial Certification data for the Teacher Education Scholarship Programs (TESP) - which include the Illinois Future Teacher Corps (IFTC) and Minority Teachers of Illinois (MTI) Scholarship programs - via the My Zone portal, replacing the existing paper process. We anticipate that this function will be available to schools by or around mid-May of 2007. Watch for future e-Messages, and continue to regularly visit both the IFTC Program News and the MTI Scholarship Program News sections, for more details regarding the availability of this new enhancement to My Zone's Teacher Education Scholarship Programs (TESP) area. Status Update: Submitting IVG Payment Requests via My Zone As was previously announced, ISAC is developing functionality that will allow schools to submit Illinois Veteran Grant (IVG) payment requests via the My Zone portal, replacing the existing paper and/or diskette process. We anticipate that this function will be available for schools to use during the 2007-08 summer payment process. Watch for future e-Messages, and continue to regularly visit the IVG Program News section, for more details regarding the availability of this new enhancement to My Zone's Illinois Veteran Grant (IVG) Program area. April 15th: 2006-07 STS Program Second Quarter Payment Claims Due 2006-07 Student to Student (STS) Program of Matching Grants second quarter payment claims are due. Payment of second semester/second or third quarter claims will occur after June 15th (the STS claim deadline for second semester/third quarter), once we have determined what proration factor, if any, will be necessary for STS Program awards for these terms. If proration is necessary, then no late claims will be paid. April 18th: 2006-07 ING Grant Spring Term Payment Claims Due Payment Request Rosters and Certification Forms for 2006-07 Illinois National Guard (ING) Grant Program spring term (second semester, or second and/or third quarter) payments are due. Payment of spring term and supplemental claims will occur once we have determined what proration factor, if any, will be necessary for spring term ING Grant Program awards. If spring term awards must be prorated, then no summer term claims will be paid. By May 1st: 2007-08 Robert C. Byrd Honors Scholars Will Be Announced Be sure to regularly visit the Robert C. Byrd Honors Scholarship Program section of the ISAC Gift Assistance Programs area for updates regarding the announcement of 2007-08 new and renewal awards. May 3rd: 2006-07 ING Grant Supplemental Claims Due Supplemental Payment Request Forms for the 2006-07 ING Grant Program are due. May 15th: 2006-07 Robert C. Byrd Honors Scholarship Payment Claims Due Eligibility Certification/Payment Request Rosters for the 2006-07 Robert C. Byrd Honors Scholarship Program are due. Further details are available at the Payment Procedures for the Byrd Scholarship section of the ISAC Gift Assistance Programs area. May 25th: 2006-07 IVG Spring Term Payment Claims Due 2006-07 IVG Program spring term payment claims are due. Although schools will not be reimbursed for spring term awards or late claims, payment requests must be submitted to ISAC so eligibility units can be assessed to student's accounts. June 1st: 2006-07 MAP, MAP Plus and IIA Program Payment Claims Due 2006-07 Monetary Award Program (MAP), Monetary Award Program Plus (MAP Plus) and Silas Purnell Illinois Incentive for Access (IIA) Program payment claims are due for third quarter, and for second semester at institutions where the second semester begins after February 15th. June 1st: 2007-08 Budget Packets Due On or before June 1, 2007, all participating Illinois schools must submit either a 2007-08 Gift Assistance Budget Packet (to report budget data for the MAP, IVG and ING Grant programs) or a 2007-08 Monetary Award Program Budget Packet (to report budget data for MAP only). ISAC anticipates having the budget packets, along with accompanying instructions and documentation, posted at College Zone no later than mid-April. June 15th: 2006-07 STS Second Semester/Third Quarter Payment Claims Due 2006-07 STS Program second semester/third quarter payment claims are due. Payment of second semester/second or third quarter claims will occur after this date, once we have determined what proration factor, if any, will be necessary for STS Program awards for these terms. If proration is necessary, then no late claims will be paid. July 1st: Final Close-out Date for 2006-07 ISAC Gift Assistance Programs All submissions of 2006-07 payment requests (including initial claims, supplemental claims, cancellations and/or adjustments) for ISAC-administered gift assistance programs must be received on or before July 1, 2007. Watch for future e-Messages, and continue to regularly visit the ISAC Gift Assistance Programs area, for further details. Next Commission Meeting June 22nd: Commission Meeting The next regularly scheduled meeting of the Illinois Student Assistance Commission will take place at Robert Morris College in Chicago. The Commission meeting Agenda Book, providing a full description of all agenda items, will be available via the ISAC's Governing Board: The Commissionsection of the e-Library five to seven days prior to the meeting. Agenda Books can also be accessed by selecting the link that appears beneath the "Resource Center" heading at the College Zone home page. MAPPING YOUR FUTURE CHAT EVENT April 10th: Mapping Your Future Chat Event On Tuesday, April 10, 2007, 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. HOLIDAY SCHEDULES A complete listing of 2007 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar. May 28th: Memorial Day Due to the Memorial Day holiday, ISAC offices will be closed on Monday, May 28th and will reopen on Tuesday, May 29th. Loan records received at ISAC on Memorial 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 May 28th will be processed on May 29th, with results available May 30th (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 May 28th. Although ISAC's offices will be closed on May 28th, MAPnet will be available during regularly scheduled hours and will reflect 2007-08 records processed by the Central Processing System (CPS) through Friday, May 25th. 2006-07 Monetary Award Program (MAP) and Silas Purnell Illinois Incentive for Access (IIA) Program payment requests submitted from 5 p.m. (CT) Friday, May 25th through 5 p.m. (CT) Tuesday, May 29th will be processed Tuesday night, and payment results (showing late claim indicators for first and second term claims, unless the school's second semester began after February 15th) will be available on MAPnet the morning of Wednesday, May 30th. 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, ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8 a.m. - 5 p.m. CT).
Results of Latest 2006-07 MAP Plus Payment Run (April 2nd) Now Available in MAPnet Payment Results Available at MAPnet MAP Plus payment results are available to view on MAPnet screens and reports as of today (Tuesday, April 3rd). Payment results will appear on the Student Detail: MAP Plus screen as well as the PLS Payment Results Report. MAP Plus payment results may also be retrieved via the Payment Results File Extraction. Please see the 2006-07 MAP 160 Byte File Layout Specifications for details on where the MAP Plus information may be found on the extract file. Priority Payment Claim Deadline Dates June 1, 2007 is the claim deadline for third quarter, and for second semester at schools where the second semester began after February 15th. Further details regarding MAP Plus payment claim deadline dates are provided at the MAP Plus Payment page at collegezone.com. As a reminder, the April 1st claim deadline has passed for first semester/quarter, second semester (for schools where the second semester began on or before February 15th) and second quarter. New Payment Requests Schools that have not already done so are encouraged to submit their MAP Plus payment requests for third quarter, and for second semester at schools where the second semester began after February 15th. The next payment runs are currently planned as follows:
As a reminder, award announcements for applications submitted after September 18, 2006 continue to be held. Questions? If you have questions regarding the release of MAP Plus payments, please contact a School Services Representative as indicated below.
FFELP PARTICIPANTS Latest School DAAR Report Available 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. Return to TopISAC UPDATE GROUP Electronic ISAC Update for March 2007 Available at College Zone Topics covered in the March 2007 ISAC Update include:
|
||||||||
|
|||||||||
© 2003-2007 Illinois Student Assistance Commission
