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February 2009
Welcome to the February 2009 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 February. 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 Dear Colleague Letter from ISAC Executive Director As a result of a continuing business re-engineering process, the Illinois Student Assistance Commission (ISAC) is currently undergoing a workforce reduction. This reduction, the result of a comprehensive review of agency processes and procedures, will impact 17 staff members. Additionally, 15 vacant positions are being eliminated and will not be filled. The reduction is expected to be complete by March 1st. With two previous workforce reductions, the sale of approximately $3 billion in out-of-state student loans, and the paying down of $3.3 billion in debt, ISAC has streamlined our operations with an eye toward functioning more efficiently and effectively for the future. To that end, we remain focused on our goal of making college affordable and accessible for Illinois students and families. And we will continue our commitment to partners in higher education by providing our usual high level of day-to-day customer service. Andy Davis Executive Director
Financial Aid 101: Building a Solid Foundation March 2009 Workshops
If you are interested in attending one of these Financial Aid 101 Workshops, please send an e-mail to Kim Eck, Training Coordinator, at keck@isac.org indicating which session you would like to attend. Seating at each site is limited, so please register early. Details regarding directions, parking, etc. will be provided to registered participants via e-mail a few days prior to the workshop.
February Webinar to Feature the Minority Teachers of Illinois Scholarship Program 1 - 2 p.m. The session will begin with an overview of the MTI Scholarship Program followed by more specific information on administering it. Time will be allotted for questions. If you have specific questions that you would like the session to address, please send them to Kim Eck at keck@isac.org by Tuesday, February 24th. To participate in the Webinar: access the PowerPoint presentation on the Partner Training page in the e-Library at collegezone.com (it will be posted on the morning of February 26th), then dial 877.873.8017 and enter code 8324962# to access the audio portion.
Start-up for 2009-10 MAP and IIA Program Successfully Implemented - MAPnet Hours Expanded ISAC is pleased to announce that 2009-10 start-up for the Monetary Award Program (MAP) and the Silas Purnell Illinois Incentive for Access (IIA) Program has officially commenced. Here is a brief listing of scheduled start-up activities and available resources for the 2009-10 cycle, including details regarding new expanded hours for the MAPnet system. 2009-10 Processing Effective today, February 9th, MAP and IIA Program data can be accessed via MAPnet. All 2009-10 Institutional Student Information Records (ISIRs) received by ISAC through (including) Wednesday, February 4th are now available with their accompanying eligibility status information. 2009-10 ISIR data received by ISAC from Thursday, February 5th through Monday, February 9th (today) will be processed tonight, with results available in MAPnet tomorrow (Tuesday, February 10th). Daily processing of 2009-10 ISIR and eligibility status information begins tomorrow, February 10th.As a reminder, when applying the 2009-10 start-up formula, the maximum annual award amount for a MAP grant is $4,968. What's New: MAPnet Hours Expanded to 10 p.m. (CT) Effective immediately, the MAPnet system is available each day between the hours of 7 a.m. and 10 p.m. (CT). Note that records submitted by 7 p.m. will be included in that night's processing, with results available in MAPnet the next business day. Records submitted after 7 p.m. will be included with processing for the next business day, with results available in MAPnet on the following (second) business day. For example: Records submitted at 6:45 p.m. on a Tuesday would have results reflected in MAPnet on Wednesday morning, while results for records submitted at 7:15 p.m. on that same Tuesday would appear in MAPnet on Thursday morning. Information Available at collegezone.com The MAP and IIA Program areas within the ISAC Gift Assistance Programs section of the FAA Zone have been updated. An explanation of the 2009-10 start-up formula, information regarding calculating a term award for both semester and quarter schools, guidance regarding rounding, and hand calculation forms are just some of the available resources. The State & Federal Aid Estimator, which provides an estimate of MAP and federal aid, also is being updated to reflect the 2009-10 start-up formula. Watch for information on the FAA Message Board as to its availability from the Calculators area within the e-Library. Notification to Applicants Samples of 2009-10 acknowledgement letters that ISAC sends to students are available within the ISAC Gift Assistance Programs area, along with the MAP Rights & Responsibilities form and the IIA Information Sheet. In order to accommodate the volume of applications submitted since January 1st, ISAC anticipates starting to mail 2009-10 acknowledgement letters to applicants by February 13, 2009. Once all letters for previously submitted applications have been sent, letters will be generated and mailed following a regular schedule.
2009-10 MAP and IIA Program Start-up Scheduled for February 9th e-Messaging service. Please note the following regarding MAPnet availability:
Information Available at collegezone.com
2009-10 MAP Start-up Formula Approved Summary of January 30th Commission Meeting FY2010 (2009-10 Academic Year) MAP Start-up Formula Approved - Agenda Item 7 Under the assumption that level or nearly level funding will be received for the Monetary Award Program (MAP), the FY2010 start-up formula reflects no changes from the FY2009 recompute formula. We anticipate start-up for 2009-10 MAP and the Silas Purnell Illinois Incentive for Access (IIA) Program to be implemented on February 9, 2009, including the launch of the 2009-10 MAPnet system. Specific details regarding the start-up implementation schedule will soon be sent via a separate e-Message, and will also be posted at collegezone.com. Proposed Rules Amendments - Agenda Item 11 Rules amendments are being proposed for the 2009-10 academic year to five existing Parts: General Provisions, Federal Family Education Loan Program (FFELP), Nurse Educator Scholarship Program (NESP), State Scholar Program and Illinois Future Teacher Corps (IFTC) Program. The full text of the proposed rules amendments and notices will be made available via the e-Library's ISAC Administrative Rules section, following publication in the Illinois Register (anticipated for Friday, February 6, 2009). The anticipated effective date of these proposed rules amendments is July 2009. Next Meeting The next regularly scheduled Commission meeting is set for Friday, April 3, 2009 at Harper College in Palatine.
FINANCIAL AID DIRECTOR ISAC Research Publications Available Online The Monetary Award Program (MAP) Evaluation, a biennial report required by the State Legislature, shows the impact of MAP and its benefits to Illinois students. Also discussed is the importance of grant aid to help narrow the gap between costs and family resources, the results of year five of a six-year Longitudinal Study, and an overview of the types of schools attended. The Evaluation concludes that having more resources to meet college costs (i.e., MAP) makes students more likely to complete their education, and that continued legislative support of MAP is crucial to ensure that Illinois students succeed with their higher education goals. Both the Data Book and MAP Evaluation can be accessed from the collegezone.com home page, under the Resource Center by clicking on Research & Statistics. They can also be found in College Zone's e-Library in the Research, Policy Analysis and Statistics area (#14).
FFELP PARTICIPANTS Latest School DAAR Report Available 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 January 2009 Available at College Zone Topics covered in the January 2009 ISAC Update include:
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