|Messages sent to:||Multiple Subscription Groups|
|ISAC Update Group|
Welcome to the May 2010 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 May. 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 email@example.com. 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.
FY2011 Budget Update
Sent to Financial Aid Directors and Financial Aid Administrators on May 28, 2010
The General Assembly has approved a number of budget measures for Fiscal Year (FY) 2011, which begins July 1, 2010. The package includes a total of approximately $425 million for scholarship and grant programs administered by the Illinois Student Assistance Commission (ISAC), the same amount that was authorized for the current fiscal year. As was the case for FY2010, the dollars were appropriated in a lump sum rather than line-by-line, allowing the Commission to allocate the funds among ISAC programs.
Legislators also approved a bill to establish the Emergency Budget Act, which will grant the Governor temporary authority to shift dollars among funds and to require agencies to hold back some appropriated spending.
These bills will be sent to the Governor for consideration.
More complete details will be provided next week, via a new ISAC State Legislative Update at collegezone.com. We will notify you when the new Update has been posted.
Technical Problems with May 26 Webinar: Rescheduled for Thursday, May 27
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs, MAPnet Users, Business Officers and FFELP Participants on May 26, 2010
We apologize for the technical problems we experienced with our conference call line during the Webinar on Illinois Loan Repayment/Forgiveness Programs that was held on May 26 at 2 p.m. Callers were able to access the conference line, but couldn't hear the presentation.
The Webinar will be offered again on Thursday, May 27 at 2 p.m. It will provide an overview of ISAC's loan repayment programs, including: the Nurse Educator Loan Repayment, Veterans' Home Nurse Loan Repayment, and Illinois Teachers and Child Care Provider Loan Repayment Programs.
To participate: access the PowerPoint presentation that has been posted to the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar. If you experience problems during the call, please contact School Services.
Important Dates, Including Close-out of 2009-10 Gift Assistance Programs
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs, MAPnet Users, Business Officers and FFELP Participants on May 24, 2010
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 students.
You may either scroll through the entire message, or click on the appropriate link(s) to go directly to details about a specific topic:
Operational dates and other announcements, including close-out of 2009-10 ISAC-administered gift assistance programs and the FFELP loan origination process
Upcoming workshops and Webinars being offered by ISAC
Processing schedules for Memorial Day and Independence Day holidays
All links in this section launch pages located at collegezone.com.
2009-10 Processing (Includes Close-out Information)
May 25: 2009-10 IVG Spring Term Payment Claims Due
2009-10 Illinois Veteran Grant (IVG) Program spring term payment claims are due on or before May 25, 2010. Although ISAC will not reimburse schools for spring term awards or late claims, payment requests must be submitted to ISAC so eligibility units can be assessed to students' accounts.
June 1: 2009-10 MAP Program Payment Claims Due
2009-10 Monetary Award Program (MAP) payment claims (for third quarter, and for second semester at institutions where the second semester begins after February 15th) are due on or before June 1, 2010.
June 4: Last Date 2009-10 ISIR Data Will Be Accepted
June 4, 2010 will be the last day 2009-10 Institutional Student Information Record (ISIR) data will be accepted for MAP. Any 2009-10 ISIR data received at ISAC on or after June 5 will not be loaded to MAPnet or ISAC's mainframe system, and no application receipt acknowledgement letters will be provided to applicants from ISAC after this date.
June 15: 2009-10 STS Second Semester/Third Quarter Payment Claims Due
2009-10 Student to Student (STS) Program of Matching Grants second semester/third quarter payment claims are due on or before June 15, 2010. Payment of second semester/second or third quarter claims will occur after this date, once we have determined what proration factor, if any, will be necessary for STS Program awards for these terms. If proration is necessary, then no late claims will be paid.
June 18: 2009-10 Summer Term Payment Claims Due for Grant Programs for Dependents of Police/Fire/Correctional Officers
2009-10 summer term payment requests for the Grant Programs for Dependents of Police/Fire/Correctional Officers are due back to ISAC on or before June 18, 2010.
June 25: Last Day to Submit FFELP Initial Guarantee Requests
In order to allow Federal Family Education Loan Program (FFELP) Stafford, PLUS or consolidation loans with disbursements scheduled on or before the June 30, 2010 deadline [as stipulated in the Health Care and Education Reconciliation Act of 2010 (HCERA)] to be processed, the final date on which ISAC will accept initial guarantee requests is June 25, 2010. Operational details regarding the submission of initial guarantee requests and a listing of FFELP activities that will continue uninterrupted beyond the HCERA implementation are provided in a May 19 e-Message.
July 1: Final Close-out Date for 2009-10 ISAC Gift Assistance Programs
With the exception of the Silas Purnell Illinois Incentive for Access (IIA) Program* (which was funded for only the fall term, and had a payment request deadline of January 10) and the Robert C. Byrd Honors Scholarship Program (which had a payment request deadline of May 15), all submissions of 2009-10 payment requests (including initial claims and supplemental claims) for ISAC-administered gift assistance programs must be received on or before July 1, 2010 (click on the following links to access payment information for each program):
- Grant Programs for Dependents of Police/Fire/Correctional Officers
- Illinois Future Teacher Corps (IFTC) Program
- Illinois National Guard (ING) Grant Program
- IVG Program
- Minority Teachers of Illinois (MTI) Scholarship Program
- Nurse Educator Scholarship Program (NESP)
- STS Program
* Note that, for MAP and the IIA Program, cancellations and adjustments to previously-paid awards that decrease an award (i.e., result in refunds) will continue to be accepted and processed via MAPnet through (including) July 28.
Continue to visit the Program News sections for individual gift assistance programs, and watch for future e-Messages, for status updates and operational details (including both the 2009-10 and 2010-11 academic years).
July 28: Last Date to Submit 2009-10 MAP and IIA Changes
The deadline to submit 2009-10 cancellations, refunds, or reductions via MAPnet for MAP and the IIA Program is
7 p.m. on July 28, 2010.
July 30: 2009-10 MAPnet Application Available for Historical View Only
The MAPnet application for 2009-10 becomes available for only historical view on July 30, 2010.
You are encouraged to finalize reconciliation activities on your campus, and report all cancellations as soon as possible, by following the cancellation guidance provided in the Processes section of the FAA Zone. Payments must be reconciled on a student-by-student basis. Due to the offset process for MAP, the IIA Program and the IVG Program, funds should be returned to ISAC only after a final reconciliation has been completed to close-out the regular school year. Promptly returning any amounts due to ISAC after a final reconciliation will assist in the decision making process regarding the release of MAP late claims. Appropriation balances (which are impacted by the return of program funds) continue to be monitored as decisions concerning releasing payment of MAP late claims are being considered.
Letters detailing the outstanding amount each institution must refund to ISAC for MAP and IIA for the 2009-10 academic year will be mailed to financial aid directors in late spring or early summer.
June 1: 2010-11 Budget Packets Due
On or before June 1, 2010, all participating Illinois schools must submit either a 2010-11 Gift Assistance Budget Packet [to report budget data for the MAP, IVG and ING Grant programs] or a 2010-11 Monetary Award Program Budget Packet (to report budget data for MAP only). The budget packets, along with accompanying instructions and documentation, may be accessed online via the Budget Reporting - MAP, IVG & ING area within the Processes section of the FAA Zone.
July 15: 2010-11 Robert C. Byrd Honors Scholarship Eligibility Certification Forms Due
Byrd Scholars must return the Eligibility Certification document to ISAC on or before July 15, 2010, so that their colleges will be able to request payment on their behalf for the fall term. Further details are provided at the Award Determination and Notification for the Byrd Scholarship page.
August 2: 2010-11 BIG Program Application Anticipated to be Available
Contingent upon funds being appropriated, the 2010-11 College Savings Bond Bonus Incentive Grant (BIG) Program application is anticipated to be available at collegezone.com on Monday, August 2, 2010. Application processing details will be provided for applicants as they become available via the "Processing Updates" section of the Student Zone's BIG Program page.
Upcoming Commission Meeting
The next regularly scheduled meeting of the Illinois Student Assistance Commission will take place on Friday, June 18, 2010, at the James R. Thompson Center in Chicago.
A listing of tentative agenda items will be available prior to the meeting via the ISAC's Governing Board: The Commission section of the e-Library. Dates and locations for all meetings scheduled in 2010 are available at the e-Library's Commission Meeting Schedule page. Agenda and meeting schedule information can also be accessed by selecting the link that appears beneath the "About ISAC" heading at the College Zone home page.
May 26: ISAC's Loan Repayment Programs Webinar
A Webinar providing an overview of ISAC's loan repayment programs, including: the Nurse Educator Loan Repayment, Veterans' Home Nurse Loan Repayment, and Illinois Teachers and Child Care Provider Loan Repayment Programs will be offered on Wednesday, May 26 at 2 p.m. To participate: access the PowerPoint presentation that will be posted on May 26 at the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
During June: Financial Aid 101 and Financial Aid 201 Workshops
Financial Aid 101 (for new financial aid professionals) and Financial Aid 201 (for experienced financial aid administrators) workshops will take place during the month of June. Specific details (including dates, locations and how to register) are provided in a May 14 e-Message.
June 29: General Update Webinar
A Webinar providing a general update on ISAC programs, budget issues and legislative news, and a summary of federal rules and regulations that go into effect on July 1, 2010, will be offered on Tuesday, June 29 at 2 p.m. To participate: access the PowerPoint presentation that will be posted on June 29 at the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
May 31: Memorial Day Holiday
July 5: Independence Day Holiday
In observance of the Memorial Day and Independence Day holidays, ISAC offices will be closed on Monday,
May 31, 2010, and on Monday, July 5, 2010, respectively. Our offices will reopen on the first business day following each holiday.
Although ISAC's offices will be closed on those days, MAPnet will be available during regularly scheduled hours and will reflect records processed by the Central Processing System (CPS) through the last business day immediately preceding each respective holiday. MAP payment requests submitted from 7 p.m. (CT) the preceding business day through 7 p.m. (CT) the first business day following each holiday will be processed the evening of that first business day, and payment results will be available via MAPnet the next morning. For example: with the Memorial Day holiday, payment requests submitted from 7 p.m. (CT) on Friday, May 28 through 7 p.m. on Tuesday, June 1 will be processed on Tuesday night, and payment results will be available via MAPnet the morning of Wednesday, June 2.
Loan records received at ISAC on the holidays, as well as disbursement records received at the National Disbursement Network (NDN), will be processed the following business day. This means that, for holidays that fall on a Monday, CommonLine or Common Account Maintenance (CAM) files will be processed on the following Tuesday, with results available on Wednesday (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 the holidays.
Reminder: Please refer to the "June 25: Last Day to Submit FFELP Initial Guarantee Requests" entry in the "UPDATES: 2009-10 Processing (Includes Close-out Information)" section (above) for details regarding how HCERA implementation will impact the processing of FFELP loan disbursements.
Remember that you can access collegezone.com anytime, or send an e-mail message to ISAC's School Services Department. With the exception of days when the ISAC offices are closed, ISAC staff will review and respond to messages during regular business hours (Monday through Friday, 8:30 a.m. - 5 p.m. CT).
2010-11 Budget Packets Due June 1
Sent to Financial Aid Directors, Financial Aid Administrators, and Public Schools - Participating in the ING Grant and IVG Programs on May 20, 2010
This is a reminder that, on or before June 1, 2010, all participating Illinois colleges must submit either a 2010-11 Gift Assistance Budget Packet [to report budget data for the Monetary Award Program (MAP), Illinois Veteran Grant (IVG) and Illinois National Guard (ING) Grant programs] or a 2010-11 Monetary Award Program Budget Packet (to report budget data for MAP only).
Additional details regarding the annual gathering of college budget information was provided in a March 25
The budget packets, along with accompanying instructions and documentation, may be accessed online via the Budget Reporting - MAP, IVG & ING area within the Processes section of the FAA Zone at collegezone.com.
The Health Care and Education Reconciliation Act of 2010 (HCERA) prohibits any new (first) disbursements on Federal Family Education Loan Program (FFELP) Stafford, PLUS or consolidation loans after June 30, 2010. As was originally communicated in an April 7 e-Message, in order to allow loans with disbursements scheduled on or before June 30 to be processed, the final date on which the Illinois Student Assistance Commission (ISAC) will accept initial guarantee requests is June 25, 2010.
The following provides operational details regarding the submission of initial guarantee requests, a listing of FFELP activities that will continue uninterrupted beyond the HCERA implementation, and a request to lenders for required documentation related to the electronic signature process. We are sharing this information with both financial aid directors and lender operational staff so that colleges and lenders can work together to ensure that all initial guarantee requests are submitted no later than the June 25 deadline.
Submitting Initial Guarantee Requests for FFELP Stafford, PLUS and Consolidation Loans
- Friday, June 25, 2010 is the last date on which ISAC will accept FFELP initial guarantee requests, including:
- CommonLine Application Receive files
- CommonLine Change Request files
- Loans processed as part of a Certificate of Blanket Guaranty
- Common Account Maintenance Consolidation Loan Record types:
- CommonLine Application Receive files
- Initial guarantee requests received after June 25, 2010 will be returned to the sender with the following reject codes:
- CommonLine Application Receive files
- Error message code: 347
- CommonLine Change Request files
- Error message code: 347
- Loans processed as part of a Certificate of Blanket Guaranty
- Error message code: 347
- Common Account Maintenance Consolidation Loans
- Record type 17 will receive edit code: 17013002
- Record type 18 will be reviewed manually
- Record type 20 will receive edit code: 20000010
- CommonLine Application Receive files
Information regarding the submission of loan guarantee requests can be found within the Loan Certification area, located in the Loan Origination section of the FAA Zone's Processes area at collegezone.com.
FFELP Activities to Continue Uninterrupted after HCERA Implementation
- ISAC will continue the following FFELP activities, without interruption:
- NSLDS Lender Manifest Reporting [including data exchange via File Transfer Protocol (FTP)]
- Unreported Loans Reporting (including data exchange via FTP)
- Loan maintenance requests submitted manually via e-mail, phone or fax
- Default Aversion and Skip Tracing
- Claims Processing
- Rehabilitation of At-Risk Loans
- Collection of Defaulted Loans
- Common Account Maintenance Activities:
- Student Demographic Change (record types 3 and 5)
- Loan Maintenance Activities (record types 7, 9, 10 and 24)
- Default Aversion Assistance Requests (40 series)
- Electronic Claims (50 and 60 series)
ISAC Requesting Required Documentation from Lenders
As part of our FFELP origination close-out activities, ISAC is requesting that lenders using an electronic signature (e-signature) process provide documentation that would be required in the event that the U.S. Department of Education (ED) received a borrower's challenge regarding the enforceability of a Master Promissory Note (MPN). Specific details (including what documentation is required, and how it should be submitted to ISAC) are provided in a sample letter that may be accessed via the Electronic Signatures page, located in the Loan Origination section of the Lender Zone's Processes area at collegezone.com.
If you have any questions regarding ISAC's plans for implementing the HCERA requirements, please do not hesitate to contact us as indicated below.
May and June Training Opportunities for FAAs - Workshops and Webinars
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools - Participating in the ING Grant and IVG Programs , MAPnet Users, Business Officers and FFELP on May 14, 2010
The Illinois Student Assistance Commission (ISAC) is offering the following training opportunities for financial aid administrators:
Financial Aid 101 Workshops
This free, full-day (9 a.m. to 4 p.m.) workshop is designed to introduce new financial aid professionals to financial aid concepts, programs and processes. It will be offered twice in June:
- Tuesday, June 15 at Prairie State College in Chicago Heights, IL
- Tuesday, June 22 at ISAC's Springfield Office
The workshop will provide an overview of the following topics:
- basic financial aid principles,
- the Free Application for Federal Student Aid (FAFSA),
- need analysis and the Expected Family Contribution (EFC),
- federal financial aid programs,
- student loan basics, and
- ISAC's scholarship and grant programs.
For more details on the workshop agenda, visit the Partner Training section of the e-Library at collegezone.com.
If you are interested in attending one of these Workshops, please send an e-mail to Kim Eck, Training Coordinator, at firstname.lastname@example.org indicating which session you would like to attend. Details regarding directions, parking, etc. will be provided in an e-mail to registered participants a few days prior to the workshop.
Financial Aid 201 Workshops
ISAC's Financial Aid 201 Workshop is intended for more experienced financial aid administrators who are already familiar with the basics. This free, full-day (9 a.m. to
4 p.m.) workshop will focus on verification, professional judgment and preparing for audits and program reviews. For a detailed agenda, visit the Partner Training page at collegezone.com.
- Wednesday, June 16 at Prairie State College in Chicago Heights, IL
- Wednesday, June 23 at ISAC's Springfield Office
To register for one of these Workshops, e-mail Kim Eck, Training Coordinator, at email@example.com and indicate the date and location which you plan to attend. Details regarding directions, parking, etc. will be provided in an e-mail to registered participants a few days prior to the workshop.
Upcoming topics are:
- May - Illinois Loan Repayment/Forgiveness Programs
- June - General ISAC Update
The May session will be offered on Wednesday, May 26 at 2 p.m. and will provide an overview of ISAC's loan repayment programs, including: the Nurse Educator Loan Repayment, Veterans' Home Nurse Loan Repayment, and Illinois Teachers and Child Care Provider Loan Repayment Programs. Time will be allotted for questions. If you have specific questions you would like this session to address, please send them to Kim Eck at firstname.lastname@example.org by Monday, May 24.
The June session will be offered on Tuesday, June 29 at 2 p.m. and will provide a general update on ISAC programs, budget issues and legislative news, as well as a summary of federal rules and regulations that go into effect on
July 1, 2010. If you have specific questions you would like this session to address, please send them to Kim Eck at email@example.com by Monday, June 28.
Registration is not required for the Webinars. To participate: access the PowerPoint presentation that will be posted the day of the call on the Partner Training page in the e-Library at collegezone.com; then dial 877.873.8017 (toll-free) and enter code 8324962# to access the audio portion of the Webinar.
New State Legislative Update Posted (May 13, 2010)
Sent to Financial Aid Directors and Financial Aid Administrators on May 13, 2010
A new State Legislative Update has been posted for your reference at collegezone.com. This Update, dated
May 13, 2010, discusses activity relating to higher education that took place in the Illinois General Assembly's spring session, which has now been adjourned. There are plans, however, for legislators to reconvene before the end of the month in order to adopt a budget for fiscal year 2011 (July 1, 2010 to June 30, 2011).
Following the adjournment, Governor Quinn vetoed SB 365, which would have made changes to eligibility for the General Assembly Scholarship program, and urged Senators to instead approve a House Bill that would eliminate the program.
Of particular note in this Update is a bill (SB 3699) approved by both chambers and awaiting action by the governor, which would create a new grant program for students who complete work at a community college and enroll in a public or private college or university in Illinois to pursue a baccalaureate degree. Implementation of the program is subject to appropriation of funds.
Also included is a summary of other legislation that, if passed, would affect student financial aid and/or ISAC. The bills are arranged in the following categories: Vetoed Bill, Bills That Have Passed Both Houses, Proposed New Programs, Resolutions, and Bills That Have Not Been Approved. The current status of each bill immediately follows the bill description.
The State Legislative Update can be accessed through College Zone's e-Library, #13, ISAC Announcements, Press Releases & State Legislative Updates. We will notify you when a new Update is posted.
Status Update - MAP Capital Investment Bond Proposal
Sent to Financial Aid Directors, Financial Aid Administrators, MAPnet Users and Business Officers on May 3, 2010
As we shared in an April 23rd e-Message, due to several years of high demand that has exceeded funding for the Monetary Award Program (MAP), ISAC and legislators are pursuing additional funding sources for the program. With the end of the spring legislative session in sight, the previously-discussed MAP Capital Investment Bond Proposal will not be considered by the Illinois General Assembly before the scheduled May 7th adjournment date.
We will continue to work toward drawing attention to and resolving the problem of growing, unmet need for MAP. Working collaboratively with our higher education partners, our focus will remain on finding solutions. We are open, as always, to your input and suggestions, and will continue to share information about our ideas and proposals as any initiative evolves.
While we advocate for students, we're monitoring the budget process closely in the hopes legislators will approve the approximately $400 million appropriation that the Governor has recommended for MAP for the 2010-11 school year.
Latest School DAAR Report Available
Sent on May 3, 2010 and May 18, 2010
The Notification of Student Loan Borrower DAAR Status report (School DAAR Report) for your school is now available on College Zone's My Zone.
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.
Electronic ISAC Update for April 2010 Available at College Zone
Sent on May 3, 2010
The April 2010 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 April via College Zone's e-Messaging service.
Topics covered in the April 2010 ISAC Update include:
- MAP Capital Investment Bond Proposal Resource Page at College Zone
(sent April 23, 2010)
- 2010-11 MAP Suspension Status Available in MAPnet on Wednesday (April 21)
(sent April 20, 2010)
- April 29 Webinar to Focus on ISAC's Military Programs
(sent April 19, 2010)
- Suspension of 2010-11 MAP Award Announcements
(sent April 13, 2010)
- Signing of Reconciliation Bill Eliminates FFELP
(sent April 7, 2010)
- Online Certification for 2010-11 Teacher Education Scholarship Programs (including Golden Apple) Now Available at My Zone
(sent April 6, 2010)
- Latest School DAAR Report Available
(sent April 5, 2010 and April 19, 2010)
- Electronic ISAC Update for March 2010 Available at College Zone
(sent April 1, 2010)