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November 2006
Welcome to the November 2006 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 November. 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 Results of November 17th Commission Meeting Discussion of FY2008 Scholarship and Grant Programs (Agenda Item 6) As indicated in a November 14th e-Message, the November 17th Commission meeting included discussion regarding Monetary Award Program (MAP) improvements that would enhance college affordability, environmental changes expected to impact MAP eligibility in FY2008 [such as application volume, changes to the federal need analysis calculation and replacement of Student Loan Operating Fund (SLOF) funding], and the forecasted demand for the Silas Purnell Illinois Incentive for Access (IIA), Illinois Veteran Grant (IVG) and Illinois National Guard (ING) Grant programs. This informational item provided the Commission with background material on program and policy issues related to these programs. No action was requested. ISAC Chairman Donald McNeil indicated that feedback is still being accepted regarding the topics discussed in this agenda item, and issued an invitation for all interested parties to provide input by sending an e-mail message to dcalcara@isac.org. ISAC Executive Director Chairman McNeil announced that the Commission plans to have a new ISAC Executive Director in place by January 1, 2007. As was announced in September, Executive Director Larry Matejka is retiring effective December 31, 2006, after 26 years of service. Commission Meeting Action Action was taken at the meeting on the following items. Details are provided in the November 17th Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission page at collegezone.com. Specific agenda items may also be accessed by clicking on the appropriate link(s) below.
Next Meeting The next regularly scheduled Commission meeting is set for Friday, January 26, 2007 at The Illinois Institute of Art in Chicago.  Tips to Ensure the Timely Processing of Online Orders for ISAC Publications ISAC's publications - including informational brochures, default prevention materials, and Federal Family Education Loan Program (FFELP) forms - can be ordered, at no charge, from the convenience of your computer via the Order Materials section at collegezone.com. The following tips and reminders are offered to help ensure the smooth and timely processing of your online publications request:
Once the "Confirm" button has been selected, an Order Materials Receipt page will appear. This receipt, which verifies that the order has been successfully submitted, should be printed for your records. Note that, if an Order Materials Receipt page does not appear, then the order did not complete successfully.
Projected Shortfall for IVG Based on projections at the current time, it appears the necessary proration level for IVG will be somewhere between 90% and 97%. Please keep in mind that this is only an estimate. The final proration percentage will be determined after the January 15th fall term payment claim deadline date, when all claims have been submitted and projections can be confirmed. Accordingly, there will be no funds for ISAC to pay spring term awards. We will notify you via the Program News area of collegezone.com and through this e-Messaging service when the final percentage for fall term proration is available.
ISAC/IDAPP Internet Outage - Saturday, November 11, 2006 The impacted functions are:
Commission Meeting - Friday, November 17th Among the agenda items to be discussed are the following:
There will be no Executive Briefing Conference Call following the November Commission Meeting.
FINANCIAL AID DIRECTOR Commission Meeting Agenda Includes Program Budget Implications Discussion Although the Agenda Item is an informational item only, and no action is being requested from the Commission, ISAC is soliciting input from the community to be used in ongoing planning and budget discussions as we move closer to FY2008. If you would like to provide commentary or make a statement at the meeting about any of the topics included in the Agenda Item, please forward your written remarks to the Executive Director, via e-mail at dcalcara@isac.org by 4 p.m., Thursday, November 16th. Please include your name and the name of the institution or organization being represented.
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 October 2006 Available at College Zone The October 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 financial aid administrators and business officers in October via College Zone's e-Messaging service. Topics covered in the October 2006 ISAC Update include:
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