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Payment Procedures for IFTC
{ISAC Rules, Part 2764.40}

New for 2007-08

The 2007-08 Payment Request Roster format is the same as the 2006-07 roster. Refer to the reminders section below for assistance in completing the Payment Request Roster. 

Eligibility Certification Statement/Payment Request Roster

The Eligibility Certification/Payment Request Roster is due back within 30 days of receipt (due date appears on cover letter). It is important to return Payment Rosters on a timely basis so that ISAC can monitor the fund balance and make awards to eligible unfunded students as early as possible in the academic year. There are three parts to each mailing:

Enclosed with the Eligibility Certification Statement and Payment Request Roster is a cover letter, a Roster Description page, and training examples for completing the Payment Request Roster.

When the awarding process (which is based on the Initial Certification Documents that have been returned to ISAC by the requested receipt date) is complete, an Eligibility Certification Statement and Payment Request Roster that includes the information the school provided on the Initial Certification Document is sent to the school. 

If an applicant is eligible to be funded in both IFTC and MTI (dual awardees), the student will appear only on the Payment Request Roster for the program they listed as their preference on the TESP application. If a student is eligible but no funds are available for the scholarship, notification is sent to the student.

Payment Request Roster Completion Reminders.

When completing the roster, the FAA is to:

  • determine which of the applicants listed on the roster is ineligible for the scholarship and give the reason for ineligibility by inserting the correct code in the "Requirement(s) Not Met" column from the list at the bottom of the roster;
  • correct the enrollment status and the period of enrollment information as provided on the roster if there has been a change to the enrollment status since the Initial Certification Document was submitted; and/or
  • correct the "Adjusted Annual Award Amount" column amount if school staff are certain that the student is eligible for a lower award amount. Do not adjust the "Full Award" or "Term Award" columns.

This scholarship plus other financial aid received by the student cannot exceed the cost of attendance.  The annual scholarship amount shall be completed by the institution and be the lesser of:

  • tuition and fees plus room and board expenses charged by the institution;
  • tuition and fees plus the institution's standard commuter allowance for students living off-campus; or
  • maximum scholarship amount depending on teaching commitment.

If a student fails to meet any of the eligibility requirements during the academic year, all undisbursed funds will be deobligated and awarded to the next eligible student.

 

Students who no longer qualify for the scholarship will receive a Notification of Disqualification from ISAC.

 

© 2003-2007 Illinois Student Assistance Commission