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VOL. 24, NO. 4L
October 2006
Welcome to the October 2006 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout October. 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:
- Sharon Bankston, extension 2826
- David Barinholtz, extension 2822
- Julie Henschel, extension 2823
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
Special Statement from ISAC Chairman McNeil Regarding Opinion from Illinois Attorney General
Sent to Marketing News, Announcements and Operational Updates, Announcements on October 24, 2006
On October 20, 2006, Illinois Attorney General Lisa Madigan issued an opinion providing guidance to the Illinois Student Assistance Commission (ISAC) as it explores available options to increase revenue from existing assets. This opinion was provided in response to an earlier inquiry from the Honorable Richard P. Meyers, Minority Spokesperson of the Illinois House Appropriations - Higher Education Committee. The October 20th opinion is posted at the Illinois Attorney General Web site.
We are pleased to share a statement from ISAC Chairman Don McNeil regarding the Attorney General's opinion. Please see his statement on the ISAC Press Releases page at collegezone.com.
Mark Your Calendar for Upcoming Important Dates
Sent to Marketing News, Announcements and Operational Updates, Announcements on October 11, 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 student loan borrowers.
October 17th: Mapping Your Future Chat Event
On Tuesday, October 17, 2006, Mapping Your Future will offer a chat from 6 to 7 p.m. (CT), providing students with an opportunity to get answers to general financial aid, student loan, and money management questions.
At the time of the event, you can access Mapping Your Future by selecting "Mapping Your Future" from the "Lender Quick Links" menu that appears along the right margin of the Lender 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.
Holiday Schedules
ISAC and the National Disbursement Network (NDN) offices will be closed on the following dates:
- Friday, November 10, 2006 (Veterans Day Observation)
- Thursday, November 23, 2006 (Thanksgiving Day)
- Friday, November 24, 2006 (Day after Thanksgiving)
- Monday, December 25, 2006 (Christmas Day)
- Monday, January 1, 2007 (New Year's Day)
Note that ELM Resources will continue to process and transmit files on all of the dates listed above.
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's Lender Services Department. With the exception of holidays (such as those indicated above), ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8 a.m. - 5 p.m. CT).
Processing Schedules
Click on the following link to access holiday processing schedules for loan records [CommonLine and Common Account Maintenance (CAM) files].
New Entrance & Exit Counseling Brochure
Sent to Marketing News, Announcements and Operational Updates, Announcements on October 3, 2006
We are pleased to introduce a new addition to our brochure library. Entitled Borrowing & Repayment - Know How Student Loans Work - this new brochure is actually a combination of our previous Life Begins with College and Life After College brochures. Containing all of the information colleges are required to provide to students at the beginning and end of their college years, Borrowing & Repayment can be used during both entrance and exit loan counseling sessions. Now all the information is in one place, so it's simpler for everyone - one less brochure for busy financial aid staff to keep on hand, and one less brochure for busy student loan borrowers to keep track of!
Borrowing & Repayment is available now through the Order Materials area of collegezone.com. Order your supply today and replace any of the old Life Begins with College and Life After College brochures you may have in your offices.
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ISAC UPDATE
Electronic ISAC Update for September 2006 Available at College Zone
Sent on October 2, 2006 The September 2006 edition of the ISAC Update is now available for your review within the ISAC Publications section of College Zone's e-Library. This version of the monthly electronic ISAC Update is a compilation of e-Messages sent to lenders and servicers in September via College Zone's e-Messaging service.
Topics covered in the September 2006 ISAC Update include:
- ISAC Executive Director Larry Matejka
Announces Retirement
(sent September 19, 2006)
- Commission Meeting to be Held Friday, September 29, 2006
(sent September 19, 2006)
- Play Your Cards Right: Don't Gamble with Your Credit - National Credit Education Week
(sent September 11, 2006)
- Upcoming Training Opportunities
(sent September 6, 2006)
- Electronic ISAC Update for August 2006 Available at College Zone
(sent September 1, 2006)
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