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ISAC Update

VOL. 34, NO. 2L
October - December 2016

Messages sent to: Operational Updates, Announcements
  ISAC Update

Welcome to the October - December 2016 ISAC Update for lenders and servicers, which is a compilation of e-Messages sent through ISAC's e-Messaging service throughout October, November and December.

The articles in this Update have been organized according to the Lender subscription groups to which the messages were distributed.

Questions?

Questions regarding information in this ISAC Update can be directed to Lender Services by sending an e-mail message to ISAC.lenderservices@isac.illinois.gov or calling 800.477.4411.

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.


OPERATIONAL UPDATES, ANNOUNCEMENTS


Season's Greetings from the Illinois Student Assistance Commission (ISAC)
Sent on December 9, 2016.

Seasons Greetings

Our entire organization would like to wish our lender and servicer partners a safe and very happy holiday season.

We appreciate having the opportunity to serve you, and look forward to continuing our partnership with you throughout the next year. Although challenges and changes may come our way, we remain committed to working together with you toward our goal of making college accessible and affordable for Illinois students.

Best wishes for a healthy and peaceful 2017.

ISAC's Holiday Schedule

In observance of the holidays, ISAC staff will be unavailable as indicated below:

Christmas Holiday Observation

  • After 2 p.m. (CT) on Friday, December 23, 2016
  • Monday, December 26, 2016

New Year's Holiday Observation

  • After 2 p.m. (CT) on Friday, December 30, 2016
  • Monday, January 2, 2017

Access the Lenders area anytime, or send an e-mail message to ISAC's Lender 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. – 4:30 p.m. CT).

Processing Schedules

Click on the following link to access holiday processing schedules for Common Account Maintenance (CAM) files.

CAM Files

Unreported Loans Report Distributed - Responses Due on or before January 31, 2017
Sent on November 29, 2016.

The Illinois Student Assistance Commission (ISAC) distributed the National Student Loan Data System (NSLDS®) Lender Manifest Report of Unreported Loans (Unreported Loans Report), including a cover letter with helpful reminders, on November 28, 2016. Responses are due on or before Tuesday, January 31, 2017. We provide this report to lenders and servicers twice a year, in order to assist in determining whether all loans that appear in a loan portfolio have been reported to ISAC.

While the majority of lenders and servicers receive the Unreported Loans Report electronically via the File Transfer Protocol (FTP) process, those who have not taken the steps necessary to exchange NSLDS-Lender Manifest data via FTP receive the reports via fax.

The Unreported Loans Report lists the following:

  • open loans that have not been updated via Lender Manifest (this could be due to the inability to match incoming loan records to information on ISAC's database, or due to errors causing the record to reject); and
  • any loan with an open loan status that does not reflect an update within the past 180 days.

Please take the time to review the loans listed and make the necessary data corrections by January 31, so that these loans can be successfully reported on your next monthly Lender Manifest submission.


Save the Date – 2017 College Changes Everything® Conference
Sent on November 22, 2016.

CCE Conference Logo

Save the Date - Thursday, July 20, 2017

Please mark your calendars to attend the seventh annual College Changes Everything® (CCE) Conference – the state's premier college access and success event. This one day conference focuses on effective practices and showcases resources available to help with increasing college access and college completion for students in support of the state's Goal 2025 – to increase the proportion of adults in Illinois with high-quality degrees and credentials to 60% by the year 2025. The conference will take place at the Tinley Park Convention Center, Tinley Park, Illinois.

One of the strengths of this conference is that it brings together a diverse audience from across the state: college access practitioners; high school leaders, counselors and case managers; college and university leaders and administrators; employers and workforce development professionals; and policymakers and elected officials interested in higher education. The conference also serves as an opportunity for stakeholders to improve their practice of collaboration and collective leadership as we work toward the state's goal.

A call for interest session proposals will go out in January. Please consider submitting a proposal to help make this conference a valuable professional development experience by sharing your knowledge and experience with colleagues from all over the state.

2017 College Changes Everything Planning Committee

  • Illinois Student Assistance Commission
  • Illinois Board of Higher Education
  • Illinois Community College Board
  • Illinois Department of Commerce and Economic Opportunity
  • Illinois State Board of Education
  • Illinois College Access Network
  • Federation of Independent Illinois Colleges and Universities
  • Advance Illinois
  • Center for the Study of Education Policy at Illinois State University
  • Council for Adult and Experiential Learning
  • Education Systems Center at Northern Illinois University
  • Generations Serving Generations
  • ACT Now
  • Women Employed

The College Changes Everything Conference is sponsored
by the Illinois Student Assistance Commission.

Helping Illinois reach its Goal 2025: to increase the proportion of adults in
Illinois with high-quality degrees and credentials to 60% by the year 2025


CCE


Unreported Loans Report to be Distributed by the End of November
Sent on November 15, 2016.

The Illinois Student Assistance Commission (ISAC) plans to distribute the National Student Loan Data System (NSLDS®) Lender Manifest Reports of Unreported Loans (Unreported Loans Report) by the end of November 2016. We provide this report to lenders and servicers twice a year, in order to assist in determining whether all loans that appear in a loan portfolio have been reported to ISAC.

While the majority of lenders and servicers will receive the Unreported Loans Report electronically via the File Transfer Protocol (FTP) process, those who have not taken the steps necessary to exchange NSLDS-Lender Manifest data via FTP will receive the reports via fax.

The Unreported Loans Report will list the following:

  • open loans that have not been updated via Lender Manifest (this could be due to the inability to match incoming loan records to information on ISAC's database, or due to errors causing the record to reject); and
  • any loan with an open loan status that does not reflect an update within the past 180 days.

Once the report is received, please take the time to review the loans listed and make the necessary data corrections so that these loans can be successfully reported on your next monthly Lender Manifest submission.


2017-18 FAFSA® Available and Upcoming Important Dates
Sent on October 3, 2016.

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 customers.

Unless otherwise noted, links in this message are to corresponding pages at ISAC's website (isac.org).

Financial Aid Planning Resources Available for 2017-18 FAFSA® Cycle

Let students and their families know that the 2017-18 Free Application for Federal Student Aid (FAFSA®) cycle, including FAFSA on the Web, opened on October 1, 2016. Note that this is three months earlier than in prior years (previously, the FAFSA became available on January 1 each year).

Details regarding the 2017-18 application cycle may be accessed via the Applying for Financial Aid section of the e-Library.

Check out the Financial Aid Planning area for information regarding resources that are available to help students complete the financial aid process. Several events, including FAFSA completion workshops, will take place across the State of Illinois over the next several weeks. Encourage your customers to attend the event that best fits their schedule.

November 1: 2016-17 Enrollment Period for College Illinois!® Prepaid Tuition Program

The 2016-17 enrollment period for the College Illinois!® Prepaid Tuition Program is scheduled to open on November 1, 2016. Plan to attend one of the upcoming events across the state, where information sessions about College Illinois! will take place.

November 3: College Changes Everything ... Continuing the Conversation Event

Register today for the first College Changes Everything ... Continuing the Conversation event, which will take place on Thursday, November 3, 2016 in ISAC's Deerfield office. During this half-day workshop, participants will examine the importance and impact of students' attendance from Pre-K through 12th grade. Further details are provided in a September 15 e-Message.

November 18: Next Commission Meeting

The next meeting of the Illinois Student Assistance Commission is scheduled to take place on Friday, November 18, 2016, at a Chicago location yet to be determined.

A listing of tentative agenda items, along with a specific time and location, will be available prior to the meeting via the ISAC's Governing Board: The Commission section of the About ISAC area.

Visit the Commission Meeting Schedule page for information regarding all 2016 meetings. Once finalized, the 2017 meeting schedule will also be posted.

November 2016: Next Round of Unreported Loans Reports to Be Distributed

ISAC plans to distribute the next round of National Student Loan Data System (NSLDS®) Lender Manifest Reports of Unreported Loans (Unreported Loans Reports) during the month of November 2016. These reports are provided to lenders and servicers twice a year in order to assist them in determining whether all loans that appear in their loan portfolios have been reported to ISAC via their NSLDS Lender Manifest Report (Lender Manifest). Further details, including a reminder to review the loans listed on the May 2016 Unreported Loans Report and make the necessary data corrections, are provided in a September 16 e-Message.

Holiday Schedules

In observance of the holidays indicated, ISAC offices will be closed on the following dates:

  • Monday, October 10, 2016 (Columbus Day)
  • Friday, November 11, 2016 (Veterans Day)
  • Thursday, November 24, 2016 (Thanksgiving)
  • Friday, November 25, 2016 (Day after Thanksgiving)
  • Monday, December 26, 2016 (Christmas holiday observed)
  • Monday, January 2, 2017 (New Year's holiday observed)

For Assistance

Access the Lenders area anytime, or send an e-mail message to ISAC's Lender 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. – 4:30 p.m. CT).

Processing Schedules

Click on the following link to access holiday processing schedules for Common Account Maintenance (CAM) files.

CAM Files

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ISAC UPDATE


Electronic ISAC Update for July - September 2016 Now Available
Sent on October 4, 2016

The July - September 2016 edition of the ISAC Update is now available for your review, and may be accessed via the Partner e-Messages & Newsletters section of the e-Library at isac.org. This version of the electronic ISAC Update is a compilation of e-Messages sent to lenders and servicers via ISAC's e-Messaging service over the past quarter.

Topics covered in the July - September 2016 ISAC Update include:

  • Reminder: Unreported Loans Report
    (sent September 16, 2016)
  • Register for College Changes Everything … Continuing the Conversation: The Importance and Impact of Attendance
    (sent September 15, 2016)
  • Mark Your Calendar for Upcoming Important Dates
    (sent August 30, 2016)
  • 2016 College Changes Everything Conference Agenda
    (sent July 13, 2016)
  • Electronic ISAC Update for April – June 2016 Now Available
    (sent July 1, 2016)

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