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February 2006
Welcome to the February 2006 ISAC Update for Lenders and Servicers, which 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 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 800.899.ISAC (4722) 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 Portfolio Management, Presidents' Day Holiday and Mapping Your Future Chat Event Portfolio Management Area Available at collegezone.com The Portfolio Management area, located in the Lender Zone of collegezone.com, provides easy access to information regarding available services and required lender activities. Divided into two sections (Services to Lenders and Lender Requirements), this resource may be particularly useful to staff members who are new to managing a loan portfolio. We hope you'll find this new area beneficial to your student loan activities. February 20th – Presidents' Day In observance of Presidents' Day, ISAC offices will be closed on Monday, February 20th and will reopen on Tuesday, February 21st. Loan records received at ISAC on Presidents' 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 February 20th will be processed on February 21st, with results available February 22nd (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 February 20th. The College Zone Web site is available 24 hours a day, 7 days a week - even when the ISAC offices are closed. Also, questions or inquiries may be submitted at any time by sending an e-mail message to ISAC's Lender 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). A complete listing of 2006 holidays on which ISAC staff will be unavailable is provided at the ISAC Events Calendar. March 21st – Mapping Your Future Chat Event The next Mapping Your Future online Chat Event, Applying to and Paying for College (Including Student Loans), is scheduled from 6 to 7 p.m. (CT) on Tuesday, March 21, 2006. Watch for more information to be posted at the Lender Message Board as this date approaches. Also, remember that the calendar of upcoming Chat Events through August 2006 is available at the Outreach Activities page. Marketing News, Announcements Sent on February 15, 2006 Based on information contained in the Governor's budget book, a sale of some student loans in IDAPP’s portfolio or a restructuring of the debt supporting the loan portfolio are mentioned as ways to fund some higher education needs. The Governor makes the commitment of continuing all student services provided by ISAC, including important outreach, research, scholarship and grant administration, and support services. Similar proposals involving the sale of other state assets are likely to be discussed as well. Our objective at this point is to keep you informed. Please, however, know that the inclusion of a proposal in a multi-billion dollar budget is just that – a proposal.
ISAC Update Electronic ISAC Update for January 2006 Available at College Zone Topics covered in the January 2006 ISAC Update include:
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