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December 2007
Welcome to the December 2007 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout December. This e-Messaging service has replaced ISAC's use of printed newsletters 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 Lender 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 Lender Services by sending an e-mail message to lenderservices@isac.org or calling 800.477.4411 and speaking with one of the following staff members:
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 Invoicing for ISAC Federal Default Fee - Instructions Available Although we have talked to many of you about the procedure for paying the fee, information about the process has been posted to collegezone.com for your convenience. Please take a few moments to review the information soon, as the first set of Federal Default Fee Invoices will be sent to lenders as early as January 3, 2008. Detailed information about the federal default fee and the invoicing and remittance procedures - including an invoice description, comma delimited text file specifications and invoicing and remittance instructions - is located in the Lender Zone of collegezone.com, under Processes, Loan Guarantee and Disbursement, Fees. Any questions about the invoicing procedure should be directed to Lender Services, available as noted below.
Happy Holidays from ISAC We appreciate having the opportunity to serve you, and look forward to working with you throughout the next year. May 2008 be a healthy, peaceful, and prosperous year for all. Holiday Schedules Due to the holidays, ISAC staff will be unavailable on the following dates:
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's Lender Services Department. With the exception of holidays (such as those indicated above), ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8:30 a.m. - 5 p.m. CT). Processing Schedules Click on the following link to access holiday processing schedules for loan records [CommonLine and Common Account Maintenance (CAM) files].
College Zone and Related Internet Applications Temporarily Unavailable on December 18th On December 18th, the following Internet applications will be unavailable beginning at 7 p.m. (CT) and continuing until approximately 1 a.m. (CT) on Wednesday, December 19th:
MARKETING NEWS, ANNOUNCEMENTS "FAFSA Expert Training" & "Understanding Financial Aid Packaging" - Register Now Beginning with our most popular session, the "FAFSA Expert Training" builds on the information and case studies presented in "The FAFSA Made Easy" and goes far beyond the line-by-line review of the Free Application for Federal Student Aid (FAFSA). Complex tax, asset, eligibility and need analysis questions are discussed. You will complete a hand calculation of the Federal Need Analysis Methodology and learn how the information provided on the FAFSA is used to determine the Expected Family Contribution (EFC). In response to feedback from high school counselors and community based organization members, an afternoon session has also been added to this training event. Last year we introduced "Understanding Financial Aid Packaging." This highly rated session provides an overview of the elements involved in financial aid packaging as well as comprehensive consumer education information designed to assist you as you help your students prepare for the financial responsibilities associated with financing college. These free sessions (9 a.m. – 3 p.m.) will be offered at 11 locations throughout the state. Counselor Professional Development Units can be earned at each session. Space is limited, so choose from the following dates and locations below and register online: Dates & Locations January 18, 2008 Chicago State University, 9501 South King Drive, Chicago, IL University Library, Sun Room Campus Map January 24, 2008 DePaul University, Lincoln Park Campus, 2250 North Sheffield Avenue, Chicago, IL Student Center, 3rd Floor, Room 314 A & B Campus Map January 25, 2008 Lincoln Land Community College, Capital City Center, 130 West Mason, Springfield, IL Lower Level Conference Center Campus Map January 25, 2008 ISAC Deerfield Office, 1755 Lake Cook Road, Deerfield, IL Room 3030 Driving Directions January 29, 2008 Rock Valley College, North Mulford Road, Rockford, IL Woodward Technology Center, Rooms 141 & 142 Campus Map January 30, 2008 Lake Land College, 5001 Lake Land Boulevard, Mattoon, IL Webb Hall, Room 081 Campus Map February 1, 2008 Joliet Junior College, Joliet Junior College, 1215 Houbolt Road, Joliet IL Room To Be Determined (Check before date) Campus Map February 4, 2008 College of DuPage, 425 Fawell Boulevard, Glen Ellyn, IL Room SRC 2800 Campus Map February 5, 2008 John A. Logan College, 700 Logan College Road; Carterville, IL Main Facility First Floor, Room F119 Campus Map February 8, 2008 Harry S. Truman College, 1145 West Wilson Avenue, Chicago, IL Faculty Dining Room, First Floor Campus Map February 11, 2008 Eureka College, 300 East College Avenue Eureka, IL Cerf Center, Terrill Room Campus Map Continental breakfast will be provided and registration begins at 8:30 a.m. We look forward to seeing you at one of our upcoming sessions.
ISAC UPDATE Electronic ISAC Update for November 2007 Available at College Zone Topics covered in the November 2007 ISAC Update include:
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