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May 2007
Welcome to the May 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 May. 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 (May 29, 2007) May 29, 2007, reflects activity which has taken place thus far during the 95th Illinois General Assembly spring session. Note that, as both chambers attempt to get through their calendars before the May 31st scheduled adjournment date, things are likely to change quickly. Of particular note in this Update are several bills which have made progress through the House and/or Senate:
New TESP Online Certification Process Now Available at My Zone 7 p.m. (CT), replaces the paper process used in previous years. Learn about the New Functionality ISAC is offering one-hour conference calls in May and June, to introduce you to the functionality and provide an overview of the new process. Details (including dates, times, and how to access the calls) regarding these conference calls are provided in a May 24th e-Message. Online Resources The Teacher Education Scholarship Programs (TESP) area of the My Zone portal has been updated to reflect the online certification process. Review this area to find specific details regarding the new functionality. Questions? If you have questions regarding the TESP online certification process at My Zone, please contact a School Services Representative as indicated below.
New TESP Online Certification Process to Be Introduced via Conference Call Sessions To introduce you to the functionality and provide an overview of the new process, the Illinois Student Assistance Commission (ISAC) will offer four one-hour conference calls on the following dates/times:
The toll-free number for the conference calls is: 888.767.9380 and the passcode is: 9767339#. Registration for the conference calls is not required.
2006-07 Program Close-out Update, Including ING Grant Spring Term Proration Rate Dates and Reminders
Due to funding shortfalls, ISAC must prorate all 2006-07 ING Grant Program timely second and/or third term claims. Timely Second or Third Term ING Grant Claims Will Be Prorated at 77.46% Following the priorities by which claims are to be paid, ISAC has paid 2006-07 timely (in-district and out-of-district) claims for first term at 100% of the claims. Not enough funds remain to pay the timely second or third term claims at 100%. Therefore, these claims must be prorated at 77.46% (i.e., $77.46 will be paid for every $100.00 of eligibility). [Note: As was the case last year, we are using a more specific proration rate (calculated to the nearest one hundredth of a percent) in order to optimize the remaining funds that are available for the 2006-07 ING Grant Program. A proration rate over 77.46% would overspend the remaining money, while a lower rate would underspend it.] For the 2006-07 academic year, the institution will be responsible for a percentage (22.54%) of each eligible student's ING Grant timely second or third term award, and will be responsible for 100% of all eligible students' summer claims and late claims (i.e., claims that were submitted after the due dates for each term's claims). 2006-07 ING Grant payment vouchers, along with an Illinois National Guard (ING) Grant Spring Term Claim Proration Worksheet (2006-07 Academic Year), will be sent to schools in the coming weeks. These documents will state the prorated amount paid to the institution for 2006-07 ING Grant spring term claims. Proration Status Update for Other 2006-07 Gift Assistance Programs The following outlines the current proration status for other 2006-07 gift assistance programs administered by ISAC.
Reconciliation Reminders You are encouraged to finalize reconciliation activities on your campus as soon as possible. Payments must be reconciled on a student-by-student basis. Due to the offset process for MAP, MAP Plus and IIA, funds should be returned to ISAC only after a final reconciliation has been completed to close-out the regular school year. Letters detailing the outstanding amount each institution must refund to ISAC for MAP, MAP Plus and IIA for the 2006-07 academic year will be mailed to financial aid directors this summer. Late Claims Appropriation balances will be monitored and the decisions concerning releasing payment of MAP, MAP Plus and/or IIA late claims will be made after June 1st.
Financial Aid 101: Building a Solid Foundation - June 2007 Workshops
For more details and directions to the ISAC offices, visit the Partner Training section of the e-Library at collegezone.com. Specific information regarding directions, parking, etc., will be provided to registered participants via a reminder e-mail a few days prior to the workshop.
State Legislative Update Posted (May 16, 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 (May 11th) 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, May 14th). 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 run is currently planned for Friday, June 1, 2007 (which is the final deadline date for 2006-07 MAP Plus payment claims). The MAP Plus Payment Chapter of the MAPnet User Guide provides instructions and sample screens for submitting MAP Plus payment requests. 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.
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 July 17th online chat HOLIDAY SCHEDULES Processing schedules for Memorial Day and Independence Day holidays 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 ISAC staff continue to work on the development of 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. At this time, we anticipate that this function will be available to schools by the end of May. 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 ISAC staff continue to work on the development of 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. In addition, schools will be able to submit their payment requests via File Transfer Protocol (FTP). At this time, we anticipate that these functions 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. 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 students' 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). The budget packets, including updated instructions and Frequently Asked Questions (FAQs), can be accessed via the Budget Reporting - MAP, IVG & ING page of the FAA Zone's Processes area. June 7th: Last Date 2006-07 ISIR Data Will Be Accepted June 7th will be the last day 2006-07 Institutional Student Information Record (ISIR) data will be accepted. Any 2006-07 ISIR data received at ISAC on or after June 8, 2007, will not be loaded to MAPnet or ISAC's mainframe system. Also, no 2006-07 MAP or IIA Program application receipt acknowledgement letters will be provided to applicants from ISAC after this date. June 15th: 2006-07 STS Second Semester/Third Quarter Payment Claims Due 2006-07 Student to Student (STS) Program of Matching Grants 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 With the exception of the Robert C. Byrd Honors Scholarship Program (see the May 15th entry of this section, above, for information regarding the Byrd Honors Program), all submissions of 2006-07 payment requests (including initial claims and supplemental claims) for ISAC-administered gift assistance programs must be received on or before July 1, 2007. Adjustments (to cancel or reduce awards) will be accepted after this date for MAP, MAP Plus and IIA. Specific details regarding close-out of 2006-07 ISAC-administered gift assistance programs will be provided via a separate e-Message in the coming weeks. In the meantime, continue to visit the Program News sections for individual gift assistance programs for status updates and operational details (including both the 2006-07 and 2007-08 academic years). July 15th: 2007-08 Robert C. Byrd Honors Scholarship Eligibility Certification Forms Due Byrd Scholars must return the Eligibility Certification document to ISAC, so that their colleges will be able to request payment on their behalf for the fall term. Further details are provided at the Award Determination and Notification for the Byrd Scholarship page. 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 Commission section 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 July 17th: Mapping Your Future Chat Event On Tuesday, July 17, 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. July 4th: Independence Day Due to the Independence Day holiday, ISAC offices will be closed on Wednesday, July 4th and will reopen on Thursday, July 5th. Loan records received at ISAC on Independence Day, as well as disbursement records received at the NDN, will be processed the following business day. This means that CommonLine or CAM files received on July 4th will be processed on July 5th, with results available July 6th (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 July 4th. Although ISAC's offices will be closed on July 4th, MAPnet will be available during regularly scheduled hours and will reflect 2007-08 records processed by the CPS through Tuesday, July 3rd. As a reminder, because July 1st is the last day to submit payment request increases for 2006-07 ISAC-administered gift assistance programs (see details under the preceding Updates section), no MAP and IIA Program payment request increases submitted after that date will be processed. 2006-07 refunds and cancellations will continue to be processed. For Assistance 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).
State Legislative Update Posted (May 8, 2007) May 8, 2007, reflects activity which has taken place thus far during the 95th Illinois General Assembly spring session. It can be accessed through College Zone's e-Library, #13, ISAC Announcements, Press Releases & State Legislative Updates. Of particular note in this Update is the introduction of SB 1496, which, if approved, would appropriate a total of $48.8 million from state general revenue funds to ISAC for payment of Illinois National Guard (ING) grants ($5.8 million) and Illinois Veteran Grants (IVG) ($43 million) in fiscal year 2008. Additional funding would go to the Department of Veterans' Affairs for scholarships. A hearing regarding this bill is scheduled for today. ISAC staff will continue to monitor the progress of this and all other bills relating to higher education throughout the remainder of the spring session. Be sure to check collegezone.com periodically for updated State Legislative Updates.
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. ISAC UPDATE GROUP Electronic ISAC Update for April 2007 Available at College Zone Topics covered in the April 2007 ISAC Update include:
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© 2003-2007 Illinois Student Assistance Commission
