Volume 16, Number 1
July - September 2006
Welcome to the July - September 2006 ISAC Communiqué – the electronic edition of your Communiqué, which is a quarterly compilation of e-Messages sent through College Zone’s e-Messaging service throughout July, August and September. While this e-Messaging service is currently being offered in addition to the printed ISAC Communiqué newsletters, it will soon replace both printed newsletters and special e-mail lists as ISAC’s primary means of communicating information to you.
The articles in this electronic Communiqué have been organized according to the Counselor Zone subscription groups to which the messages were distributed via College Zone’s e-Messaging service.
Questions?
Questions regarding information in this electronic Communiqué 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
ISAC Executive Director Larry Matejka Announces Retirement
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on September 19, 2006.
In a press release issued today by the Illinois Student Assistance Commission (ISAC), Executive Director Larry E. Matejka announced his retirement, effective December 31, 2006. In his over 26 year tenure at the agency, Larry's extraordinary contributions to assist the students and families of Illinois in meeting their educational goals cannot possibly be measured. His tireless efforts and unwavering dedication to not only the Commission and its staff, but to all of the colleagues with whom he works, have resulted in unparalleled partnerships and enormous growth of college financial aid programs.
Please join us in wishing Larry a well-deserved and fulfilling retirement.
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Play Your Cards Right: Don't Gamble With Your Credit - National Credit Education Week
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, and Community Organizations on September 11, 2006.
To boost awareness across the state regarding personal finance and consumer debt, Governor Blagojevich will join a national effort by proclaiming the week of September 18th as National Credit Education Week in Illinois. As an extension of our default prevention outreach campaign, ISAC invites you to participate in the week-long program - Play Your Cards Right: Don't Gamble with Your Credit - which is sponsored by the Association of Credit and Collection Professionals.
Activities include displaying the Play Your Cards Right poster in your organization and having your students take the Credit Challenge Quiz (which can be accessed via the Student Zone Message Board at collegezone.com), accessing the online versions of Credit Card Smarts (includes links to information in Spanish) and Parent Smarts, and scheduling a Personal Finance presentation with the Default Prevention Outreach department. These activities are designed to promote consumer education with respect to using credit cautiously, spending money wisely, and paying bills promptly - practices which are especially important in the prevention of student loan default. A press release regarding National Credit Education Week activities is available at the College Zone Web site.
As a reminder, this is a good time of year to consider reordering ISAC Federal Family Education Loan Program (FFELP) default prevention outreach awareness materials for use during fall entrance counseling sessions. Materials can be ordered online at collegezone.com. ISAC's default prevention outreach, financial literacy information, as well as other outreach services and activities, are funded through ISAC's role as a federal student loan guaranty agency and secondary student loan market. ISAC receives no state funding for administration, operations or outreach.
ISAC appreciates having the opportunity to work with you as we all strive to educate Illinois students about credit and personal finance. If you have any questions regarding this information, or if we can be of any additional assistance to you, please contact School Services at 866.247.2172 or send an e-mail message to schoolservices@isac.org.
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HSSP Sixth Semseter Roster Data Due October 13, 2006
Sent to Principals/Superintendents/Administrators and High School Counselors/Teachers on September 11, 2006.
HSSP 6th Semester Academic Information Rosters, Certification Forms and blank Rank-in-Class Rosters [used to identify students who may be eligible for the State Scholar, Merit Recognition Scholarship (MRS), and/or Robert C. Byrd Honors Scholarship programs for the 2007-08 academic year] were sent on September 8th to Illinois high schools which did not submit a school-generated roster. When referred to at the same time, these three programs are known as the High School Scholarship Programs (HSSP).
What's New
As part of our continuing efforts to simplify the HSSP process, the following changes have been made:
- Schools need only provide information for those students in the top 50% of the class.
- Schools must use unweighted grade point averages (GPAs) only.
- Only finalists will be announced. There will be no roster of potential awardees.
Rosters Due On or Before October 13th
Completed rosters, which aid in the identification of State Scholar recipients, are due back to ISAC on or before Friday, October 13th. Instructions for completing the rosters were included in the mailing, and are also available within the Sixth Semester Roster Packet section of the ISAC Gift Assistance Programs area at collegezone.com.
If high schools prefer, they can still submit school-generated rosters which contain accurate sixth semester data. Special care should be taken to ensure that only sixth semester data (defined as the third semester prior to graduation) is submitted.
Announcement of Finalists To Take Place in November
We anticipate sending final announcement rosters to high schools in late November. In order to stick as closely to this timetable as possible, please make every effort to return your school's completed rosters by the October 13th due date.
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Upcoming Training Opportunities
Sent to High School Counselors/Teachers, College Admission Counselors and Community Organizations on September 5, 2006.
Please join us this fall as we kick off the Illinois Student Assistance Commission's (ISAC) three-part Professional Development Series with the "FAFSA Made Easy" sessions, designed especially for high school counselors, college admission counselors and community organization professionals. These half-day sessions (9 a.m. – 12:30 p.m.) will focus on the intricacies of the Free Application for Federal Student Aid (FAFSA) and student eligibility for financial aid.
Developed as an intensive review of the FAFSA, these sessions will place special emphasis on the dependency questions, the worksheets, and eligibility. Ample time will be provided for discussion, allowing you to ask questions and participate in an interactive group discussion.
Space is limited so choose the session date and location that best meets your needs and register here.
Continental breakfast will be provided and registration begins at 8:30 a.m. We look forward to seeing you at one of our sessions this fall.
"FAFSA Expert" Sessions - Mark Your Calendars
Registration begins mid-December
This winter, ISAC will continue our three-part Professional Development Series by hosting "FAFSA Expert" sessions throughout the state. These half-day sessions (9 a.m. – 12:30 p.m.) are designed to go beyond the basic line-by-line walkthrough of the Free Application for Federal Student Aid (FAFSA) and delve into the more complex tax, asset, eligibility, and need analysis questions. In-depth case studies will be used to illustrate the many nuances of the expected family contribution (EFC) formula, and all participants will be provided with a set of comprehensive reference materials created for use at Financial Aid Nights, FAFSA Completion Workshops, and throughout the school year.
Even the most experienced professionals may find questions such as the following difficult to answer:
- What is the income 'cut-off' for receiving financial aid?
- Is it true that families with savings can't get financial aid?
- Do I have to report my retirement savings as assets?
- How do I complete the parent section if I am in foster care?
- Where do I list College Illinois! on the FAFSA?
"Understanding Financial Aid Packaging" Sessions – Spring 2007
Registration begins early February
Would you like to help your students identify a good financial aid package? This spring, ISAC will wrap up our three-part Professional Development Series by offering "Understanding Financial Aid Packaging" sessions throughout the state. These sessions will guide you to help your students and their families decipher award letters and compare aid packages, thereby allowing them to identify the best college fit.
We will offer a general perspective about the components of aid packaging. Overall, these sessions aim to provide you the opportunity to participate in comprehensive consumer education about higher education.
How to Register
Registration details, including dates and locations, for the two final series will be available online through the Training Calendar Quick Link in the Counselor Zone at collegezone.com. We will also be sending e-Messages with the latest information and updates about additional training events.
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ISAC Kicks Off Hispanic Heritage Month
Sent to High School Counselors/Teachers, College Admission Counselors and Community Organizations on August 21, 2006.
Join us as we celebrate the beginning of Hispanic Heritage Month (September 15 – October 15) with our annual financial aid training conducted in Spanish.
Spanish is the primary language spoken in more American homes than any other foreign language. Most students look to their parents for guidance in the college selection process. Unfortunately, many parents with limited English proficiency are unsure where to get information about the financial aid process and programs. As a result, their children, who may qualify for financial aid, often apply late or don't apply at all.
The Illinois Student Assistance Commission (ISAC) recognizes this can be a major obstacle in college planning for Spanish-speaking families and, based on feedback from the admission, guidance, and financial aid communities, developed a training event in preparing a financial aid night presentation in Spanish. Due to the extensive interest and positive feedback, this unique workshop conducted entirely in Spanish is being offered again.
If you, or someone in your school or organization, speak Spanish and are interested in learning more about the financial aid process in order to serve Spanish-speaking families, please join us:
Or
Space is limited. Register here now!
The agenda includes the following:
- a ready-to-use PowerPoint presentation complete with talking points;
- a review of the resources available in Spanish; and
- a question and answer period.
Tools and Resources
There are many services available in Spanish through College Zone.
Spanish-speaking College Zone Counselors can help students and parents with questions about planning, finding, applying and paying for college at 800.899.4722, Monday through Friday from 8 a.m. to 5 p.m.
Anyone can access collegezone.com in Spanish by selecting "Español" as the Zone option from the home page.
The College Illinois! Web site is also available in Spanish.
A number of brochures and presentations are offered in Spanish as follows:
College Selection/Financial Aid Checklist
College Zone Bookmark
College Illinois! Brochure
Financial Aid for a College Education Presentation
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Mark Your Calendars for Upcoming Important Dates
Sent to Principals/Superintendents/Administrators, High School Counselors/Teachers, College Admission Counselors, Community Organizations and Public Libraries on August 2, 2006.
The Illinois Student Assistance Commission (ISAC) would like to make you aware of the following information, which may be of interest to you and/or your college-bound students and their families.
August 11th: School Generated Sixth-Semester Rosters Due
Last April, ISAC sent high schools an overview letter with the delivery process and timeframes for the High School Scholarship Programs (HSSP) upcoming cycle. ISAC gathers information during 2006-07, including sixth-semester data from high schools, that is used in making student awards for the 2007-08 academic year. School-generated sixth semester rosters must be submitted to ISAC on or before August 11, 2006 to prevent ISAC from generating a roster at a later date.
August 11th - August 20th: Illinois State Fair
Visit with ISAC staff in Campus Town at the 2006 Illinois State Fair in Springfield. Campus Town is open from 9 a.m. to 4 p.m., weekdays during the fair, which runs from August 11th through August 20th.
August 15th: Mapping Your Future Chat Event
On Tuesday, August 15, 2006, Mapping Your Future will offer a "Managing Your Student Loans - Including Repayment Options, Consolidation and Cancellation" chat from 6 to 7 p.m. (CT). Increasing tuition costs and limited financial aid resources have resulted in an increased reliance on student loans and other debt to pay for college. The chat is designed to help students obtain information about money and debt management.
During this "Managing Your Student Loans - Including Repayment Options, Consolidation and Cancellation" Chat Event, participants will learn about:
- avoiding student loan default;
- credit cards;
- credit reports;
- budgeting; and
- student loan consolidation and cancellation.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Counselor Quick Links" menu that appears along the right margin of the Counselor Zone front page.
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 July 2007 - is in the Outreach Activities section of College Zone, which can be accessed in the center of the College Zone home page.
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.
September 4th: Labor Day
Due to the Labor Day holiday, ISAC offices will be closed on Monday, September 4th and will reopen on Tuesday, September 5th.
You can continue to access information at collegezone.com 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 School 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.
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High School Counselors/Teachers
Protecting Private Data
Sent on August 9, 2006
With the ever-increasing emphasis on e-mail security as a means to protect our clients' personal and confidential data, we've implemented some changes to our agency Privacy Protection Policy which will impact the way information is transmitted to and from ISAC. By definition, we view private data as addresses, telephone numbers, dates of birth and Social Security Numbers (SSN's), or any combination of data that can identify a specific individual.
Effective immediately, the School Services and Lender Services Departments with whom you communicate regarding our student and parent clients will institute the following measures when corresponding via e-mail:
- the first five digits of the Social Security number will appear as X's (XXX-XX-), followed by the last four digits of the SSN; or
- the private data will be incorporated into a protected document or spreadsheet, and attached to an e-mail message. If a password-protected file is used, ISAC staff will communicate directly with the recipient via telephone to relay the pertinent password.
To further protect confidential data, checks are being performed on outgoing ISAC e-mail correspondence to ensure that compliance with the new policy is ongoing.
Because it's equally important that the data you send to us is protected, our preference is that you apply the same safeguards as outlined above when providing private client data to us. As necessary, other methods may be used as a protective measure. A Frequently Asked Questions (FAQ) document, with further explanation of strategies that can be used is currently being prepared and will be made available at a later date.
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Change In Treatment Of 529 Prepaid Tuition Plans In Need Analysis
Sent on August 3, 2006
In response to recent questions, this message provides guidance to Illinois colleges and high schools regarding changes in the treatment of 529 prepaid tuition plans like College Illinois! resulting from the Higher Education Reconciliation Act of 2005 (HERA). Effective July 1, 2006, College Illinois! prepaid tuition contracts owned by dependent students' parents are now considered parental assets in the federal methodology need analysis calculation.
In accordance with this federal legislation, the total cash value of prepaid tuition plans held in a parent's name for all beneficiaries must be included in the determination of financial aid eligibility through the need analysis process. Previously, distributions from prepaid tuition plans resulted in a dollar-for-dollar loss in financial aid. Guidance from the U.S. Department of Education (ED) regarding this change (including how prepaid tuition plans are to be considered when packaging financial aid) can be found in the following Dear Colleague Letters (DCL's):
GEN-06-10 (JUN)
GEN-06-05 (APR)
Since this new legislation was effective July 1, 2006, and most families have already completed the 2006-07 Free Application for Federal Student Aid (FAFSA), College Illinois! will be notifying students who are using prepaid tuition benefits of this change. Students and/or parents can contact College Illinois! at 877.877.3724 to obtain the total value of all their prepaid tuition plans, and work with their financial aid office to update FAFSA data so their award package may be adjusted accordingly, if necessary.
Additional information is available through the College Illinois! pages at collegezone.com.
Thank you for your assistance as we work together to implement this new change to the financial aid treatment of prepaid tuition plans.
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Governor Signs MAP Plus Into Law
Sent on July 31, 2006
On Sunday, July 30, 2006, Illinois Governor Rod Blagojevich signed legislation creating the Monetary Award Program Plus (MAP Plus), effective for fall 2006.
MAP Plus provides grants for Illinois residents who do not receive a MAP grant and whose families' adjusted gross incomes [as reported on the 2006-07 Free Application for Federal Student Aid (FAFSA)] are less than $200,000. Recipients must be enrolled on at least a half-time basis as sophomores, juniors or seniors at MAP-approved Illinois colleges.
The maximum MAP Plus grant available to a qualified applicant is $500 per school year, disbursed in two payments not to exceed $250 per term. A MAP Plus grant must not exceed the amount of tuition and mandatory fees (minus other state and federal gift assistance that is restricted to paying tuition and mandatory fees).
Rather than being funded by state tax dollars, MAP Plus funding will come from restructuring or selling part of the student loan portfolio now held by the Illinois Student Assistance Commission (ISAC) and other efforts to maximize the revenue ISAC generates. Efforts are underway to raise the money needed by the end of 2006 in order to make awards during 2006-07.
Further details are provided in the MAP Plus section of the ISAC Gift Assistance Programs area at collegezone.com.
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ISAC Communiqué
New ISAC Communiqué Available at College Zone
Sent on July 3, 2006
The latest “electronic-only” edition of the ISAC Communiqué is now available for your review within the ISAC Publications section of College Zone's e-Library. This electronic version of ISAC's newsletter is a quarterly compilation of information provided to Counselor Zone partners via College Zone's e-Messaging service during the months of April, May and June.
Topics covered in this electronic Communiqué include:
- Fall Update Session - Mark Your Calendars
- Academic Comptetitiveness Grant Program - No Additional "Rigorous" Illinois Programs
- New Student Loan Interest Rates Effective July 1
- IllinoisMentor Counselor Center Training Available on College Zone
- Mark Your Calendars for Upcoming Important Dates
- ISAC Budget & Legislative Update
- ED Issues Guidance for Academic Competitiveness Grant Program
- ISAC to Pay Default Fee on Behalf of Borrowers
- ISAC Loan Options Expand for Graduate Students
- Reminder - Counselor Center Training for IllinoisMentor!
- New Cycle Underway for High School Scholarship Programs
- Free Web-Based IllinoisMentor Training Being Offered to High School Counselors
- New ISAC Communiqué Available at College Zone (April - June 2006)
Electronic newsletters are available at the beginning of each quarter (January, April, July, and October), and are the compilation of information announced via an e-Message to any of the Counselor Zone subscription groups during the previous quarter.
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