FAA Message Board
The FAA Message Board is updated each week.
An
April 15 e-Message announces that ISAC has released additional 2013-14 Monetary Award Program (MAP) grants from suspense status. This second limited release includes eligible students whose Free Application for Federal Student Aid (FAFSA) receipt dates were March 17, 2013 through (and including) March 19, 2013. These released records are available for payment, and may be viewed in the MAP system. All MAP grants for eligible students with initial FAFSA receipt dates on or after March 20, 2013, remain in suspense status.
In addition, previously held 2013-14 MAP first- and second-term late claims have been released for payment, with results appearing in the MAP system.
All 2013-14 MAP initial claims must be submitted on or before Sunday, June 1, 2014.
Users of GAP Access will be required to change your password when logging in the first time on or after 12 p.m. (noon) on Sunday, April 13, 2014. Due to the recently discovered vulnerability known as Heartbleed, ISAC is requiring the password change as a precaution to ensure the security of GAP Access data. Please note that the My Zone functionalities are not impacted and current passwords can continue to be used until their normal expiration.
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recent USA Today article discusses the results of a study conducted by EverFi and Higher One, which are organizations that help implement financial literacy programs. According to the study, first year college students who were required to take a financial literacy course in high school are much more likely to avoid debt, stay within their credit limit, and pay credit card bills in a timely manner. Building on the success of the high school programs, some colleges are implementing financial literacy sessions as part of freshman orientation, and also developing opportunities for upperclassmen to provide peer counseling to younger students.
An April 2014 Dear Colleague Letter (
DCL ANN-14-08) from the U.S. Department of Education (ED) announces availability of the recorded version of Federal Student Aid's recent webinar on the new Direct Consolidation Loan process, including a detailed walkthrough of the application process on the StudentLoans.gov website. No registration is required to view the recorded training session, which is intended for professionals in the financial aid community interested in learning more about the new process for Direct Consolidation Loans.
The Teacher Education Scholarship Programs (TESP) component of My Zone that allows colleges to complete students' initial certifications online is now available for the 2014-15 academic year. Currently included are certification records for the Minority Teachers of Illinois (MTI) Scholarship Program. Details are provided in an
April 7 e-Message.
Two recent electronic announcements from the U.S. Department of Education (ED) provide details about website enhancements that will be implemented on April 13, 2014. The
first announcement explains upcoming changes at FAFSA on the Web. The
second announcement discusses an expansion of the Identify Verification Results feature at the 2014-15 FAA Access to CPS Online website, allowing users to upload flat files containing verification results for multiple students.
A March 2014 Dear Colleague Letter (
DCL GEN-14-05) provides important information about a new Internal Revenue Service (IRS) "Get Transcript Online" tool, which allows the tax filer to submit an online transcript request to the IRS and, if the request is authenticated, immediately receive the transcript in Portable Document Format (PDF). The PDF transcript can then be saved and/or printed for submission to the college.
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March 21 electronic announcement from the U.S. Department of Education (ED) provides guidance on what is expected and required of colleges and third party servicers that verify and/or receive payoffs for Federal Perkins Loans and eligible health professions loans in the new Direct Consolidation Loan process. Included in the announcement are details regarding consolidation servicer outreach, key processing steps, and contact information.
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March 17 e-Message announces that 2013-14 Illinois National Guard (ING) Grant payment request rosters are now available at My Zone, allowing colleges to submit ING Grant claims data (initial, supplemental and out-of-district) for the spring term. As a reminder, this data must be submitted so eligibility units can be accurately assessed to students' accounts.
Remind your students that, if estimated income data was used when completing the
2014-15 Free Application for Federal Student Aid (FAFSA), they need to compare the income portion of the
Student Aid Report (SAR) with information from completed 2013 tax returns, and make corrections as necessary.
You may have families asking how college tuition payments will impact their taxes. Several valuable online resources are available to assist college students and their parents with the tax filing process. The National Association of Student Financial Aid Administrators (NASFAA) has posted its
Higher Education Tax Benefits: 2013 Tax Year guide. Families should also be encouraged to check out the
Internal Revenue Service (IRS) Tax Benefits for Education: Information Center, the 2013 edition of
IRS Publication 970 (Tax Benefits for Education), and the
IRS Student Loan Interest Deduction Tax Topic (topic 456).
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January 24 electronic announcement from the U.S. Department of Education (ED) provides the financial aid community with general information about how federal loan servicers will report student loan interest payments for 2013.
The links below have information on topics that were previously listed on the Message Board.
MAP Advising Working Group final report2014-15 State Scholar AnnouncementsISAC State Legislative UpdateInformation regarding Pay As You Earn Repayment Plan (for
colleges and
students)
Information regarding Employment Certification for Public Service Loan Forgiveness (for
colleges and
students)
Outreach Calendar/EventsFAFSA Completion InformationImportant Reminders calendar
Prepaid Tuition 
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