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September 2009
Welcome to the September 2009 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout September. 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 Online Student Loan Counseling Among Mapping Your Future Products and Services to be Unavailable October 10th-11th Please share this information with your student loan borrowers who need to complete online counseling sessions so that they can plan their schedules accordingly. The following products and services will be unavailable on October 10th and October 11th:
Mapping Your Future staff understand the inconvenience that can result from extensive, unplanned maintenance. Consequently, they only disrupt service for maintenance when it is determined to be crucial to the performance of the site. Weekly maintenance, when required, is normally conducted on the Mapping Your Future Web site on Mondays, between 4 a.m. and 6 a.m. (CT). Analysis of usage statistics and bandwidth consumption has determined that the site has the least amount of traffic during this time so, in order to minimize service disruption, staff typically use this period to perform Mapping Your Future network upgrades and repairs. If you have questions, please contact Mapping Your Future.
Message from ISAC's Executive Director Since January 2007, when I became Executive Director of ISAC, our agency and our industry have experienced significant changes at an unprecedented rate. In working with the Commissioners and ISAC staff, we have been taking steps to make the organization more agile, effective, and efficient to ensure that ISAC fulfills its mission of making college accessible and affordable for all Illinois students well into the future. To that end, ISAC will be experiencing another workforce reduction of approximately 15 percent by the end of the first quarter of 2010. We currently employ 381 people at our offices in Chicago, Deerfield and Springfield. The position eliminations will come from both the top and bottom of the organization - principal administrative appointments as well as civil service positions will be affected. The reorganization will occur in two phases with the first beginning in mid-September and the second phase taking place during the first quarter of 2010 as ISAC completes restructuring and consolidating IDAPP servicing operations to a single third-party servicer. These necessary measures will save the agency well over $1 million a year. Because you are key partners in helping ISAC achieve its mission, I wanted to send this message rather than have you simply read a general press release on the matter. I think it's important for you to know that while these organizational changes are taking place, we understand that the need for our services has never been greater, and these changes will help our agency remain successful in fulfilling our mission efficiently and effectively. The Commission will continue to focus on five core areas of operations: research, planning and policy analysis; program services (scholarships & grants administration); college access and outreach; College Illinois!® 529 prepaid tuition; and student lending. I'm especially excited about the new offering from our College Access and Outreach division - the ISACorps - as it significantly increases our field presence throughout the state to engage students, parents, and community members in college planning and preparedness programs. I know many of your own organizations are experiencing fiscal and budgetary issues and making hard decisions as ISAC has had to. In addition to the staff reductions mentioned above, we are also adding three furlough days in which the agency will be closed, beginning with November 25 and December 24 of this year and a date to be determined in the first quarter of 2010. These dates were selected to minimize impact on students and schools, and this additional shared sacrifice will spare approximately six to eight additional jobs. In addition to our internal issues at ISAC, we are also actively engaged with the Save Illinois MAP Grants campaign. I thank the many partners that have reached out to ISAC to work collaboratively to restore funding for this critically important student assistance program. Please visit saveillinoismapgrants.org on a regular basis for updated information. Andy Davis Executive Director
Commission Meeting to be Held Friday, September 18, 2009 Some of the items on the tentative agenda for the meeting are:
There are no plans for a conference call briefing following this meeting. * Members of the public are invited to provide testimony at the Commission meeting about the impact of reduced funding for MAP. If unable to do so, concerned parties are encouraged to write, e-mail, call or visit their state legislators. The saveillinoismapgrants.org Web site is the source for updates to the MAP funding issue, including templates and other resources. Testimony from the hearing will be available on the Web site following the meeting.
ISAC UPDATE Electronic ISAC Update for August 2009 Available at College Zone Topics covered in the August 2009 ISAC Update include:
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