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September 2005
Welcome to the September 2005 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 September. 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 Training Opportunities for Financial Aid Professionals Register Now! Financial Aid 101: Building a Solid Foundation – October Workshops ISAC will offer its Financial Aid 101: Building a Solid Foundation workshop twice in October. Who Should Attend? This full-day (9 a.m. - 4 p.m.) workshop is designed to introduce new financial aid professionals to financial aid concepts, processes and programs and help them develop a solid foundation on which to build their careers. What's Covered? The workshop will provide an overview of the following topics:
For more details, you may view the workshop agenda in the Outreach & Training section of the e-Library at collegezone.com.  Huricane Katrina Resource Information Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs, MAPnet Users, Business Officers and FFELP Participants on September 12, 2005 While the inhabitants of the Gulf Coast continue to struggle with the aftermath of Hurricane Katrina, ISAC, IDAPP, the State of Illinois and the federal government have all taken steps to provide assistance to those impacted. Among the accommodations already in place:
Because recovery from this devastating event won't be completed overnight, we expect to receive more guidance and learn of more assistance being offered on an ongoing basis. To ensure you have easy access to all of the information available, for your reference we've created a Hurricane Katrina Resources page, which can be accessed via the first link under the home page's News & Announcements heading at collegezone.com. As the situation continues to evolve, we will provide updates to the page.
FINANCIAL AID ADMINISTRATOR Debt Management Strategies Chat Event - September 13, 2005 On Tuesday, September 13, 2005, Mapping Your Future will offer a "Debt Management Strategies" chat from 6 to 7 p.m. (CT). The chat is designed to help students obtain information about managing their personal financial affairs. During this "Debt Management Strategies" Chat Event, participants will learn about:
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 August 2006 - is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page. Remember, also, that a poster (in .pdf format) listing 2005-06 Chat Events is available at the Mapping Your Future Web site. You may wish to consider printing (on 8½" x 11" paper, in color or black & white) and displaying this poster, which can be accessed via Mapping Your Future's "Financial Aid Professionals" and "Live Chat Events" pages, in areas of your campus that can be easily viewed by individuals seeking information about the college process. 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.
MAPNET USERS 2005-06 MAP Suspension Status Available in MAPnet and Information Regarding MAP & IIA Voucher Distribution As indicated in an August 25th e-Message, ISAC has suspended the announcement of 2005-06 Monetary Award Program (MAP) grants for all students whose initial 2005-06 Free Application for Federal Student Aid (FAFSA) was received by the Central Processing System (CPS) on or after September 1, 2005. This affects new and continuing students regardless of enrollment status. Student Award Announcements ISAC will be notifying all affected applicants that their awards have been placed in suspension status. Initial Institutional Student Information Record/Student Aid Report (ISIR/SAR) records with an application receipt date on or after September 1st will generate suspense status letters which will be dated and mailed three business days from the date ISAC receives and processes the initial ISIR/SAR transaction. Additionally, schools are required to suspend announcements of MAP awards to students whose initial FAFSA receipt date is on or after September 1st. Identifying Records and Creating a Report MAP records in suspension status are indicated by an Eligibility Code of "S" ("Suspended -- indicates student is temporarily suspended from processing due to insufficient funding. Not eligible for payment for any terms") on MAPnet and in the Eligibility Status File (ESF). As a reminder, MAPnet contains filters that will allow you to identify student records and create a report of those records placed in suspension status. 2005-06 MAP and IIA Voucher Distribution In early September, ISAC plans to begin mailing the 2005-06 MAP and Silas Purnell Illinois Incentive for Access (IIA) Program Payment Results Summary Report and, if money is due to the school, the corresponding Payment Voucher. Because the Payment Results Report and Payment Exception Report are available to access via MAPnet, they are no longer being mailed to schools. In order to obtain a listing of students included with each Payment Voucher, schools may generate the Payment Results Report and Payment Exception Report within MAPnet. When selecting the date range, use the date provided on the Payment Results Summary Report. Specific instructions are provided in the 2005-06 MAPnet User Guide (Payment Chapter, pages 13 & 14) at collegezone.com.
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 August 2005 Available at College Zone Topics covered in the August 2005 ISAC Update include:
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