2022-23 Budget Data Due July 8
Unless otherwise noted, links in this message are to corresponding pages at the Illinois Student Assistance Commission (ISAC) website (isac.org).
The annual reporting of postsecondary institutions' budget information to ISAC is underway.
While – as in prior years – colleges will submit their 2022-23 budget data online via the "School: Budget" area of the ISAC Gift Assistance Programs (GAP) Access portal, this message highlights important changes regarding the budget reporting process for colleges participating in the Monetary Award Program (MAP) and the Illinois Veteran Grant (IVG) and Illinois National Guard (ING) Grant programs.
What's New for Submitting 2022-23 Budget Data
The process of submitting 2022-23 budget data is similar to last year's procedures, except that colleges will report "main" tuition and fee rates (i.e., the freshman base/general rate; for many colleges this rate is typically what the majority of students at the college are charged), rather than the highest rate as had been reported in prior years (for some colleges the main and highest rates are the same because there is only one rate that all students are charged).
When reporting tuition and fee rates, remember that – anticipated to be effective on July 1, 2022 for the 2022-23 academic year – proposed amendments to Part 2700 (General Provisions) of ISAC Administrative Rules expand the "Mandatory Fees" definition to include fees for students studying though distance education (in addition to previously-included on-campus students).
In order to provide colleges with time to report 2022-23 rates, the submission deadline (which would typically be June 1) has been extended to July 8, 2022. As indicated in a May 25 e-Message, future program reviews will not cite colleges for late submissions after June 1 as long as all required 2022-23 tuition and fee data is submitted by July 8.
If a school's annual budget is not final by July 8, the 2022-23 budget data is to be submitted with estimated figures, followed by an e-mail from the financial aid director to ISAC's School Services Department that provides the approximate date by which the final budget will be submitted (must be on or before August 1, 2022).
Upcoming Training Opportunities
The 2022-23 budget data collection process will be discussed during the following upcoming training opportunities:
- Wednesday, June 22 at 2 p.m. - Budget Completion Webinar
- Tuesday, June 28 at 10 a.m. – Budget Completion Webinar
- Wednesday, June 29 at 2 p.m. - ISAC Operational Update and Program News Webinar
- Wednesday, July 6 at 10 a.m. – Budget Completion Webinar
- Wednesday, July 6 at 2 p.m. – Budget Completion Webinar
All Webinar information, including the links to access the trainings, will be available on the e-Library Partner Training page on the day of the sessions.
General Institutional Information
Valid responses must be provided for Questions 1 and 2 of the "General Institutional Information" section. If you do not have a valid Program Participation Agreement (PPA), blank is a valid response. If Question 1 is checked, and/or a date is reported for Question 2, responses to all three questions are required before the budget can be certified. For Question 3, one of the buttons ("Yes" or "No") must be selected before the budget can be certified.
- Please check this box to confirm that this institution has a valid PPA with the U.S. Department of Education (ED). [Checkbox will appear here]
- This ED PPA expires: [mm/dd/yyyy field will appear here]
- Has your institution undergone a name or ownership change in the last 12 months? [Yes/No radio buttons will appear here]
- Step-by-step instructions for accessing and navigating the GAP Access "School: Budget" screens are provided on the Gift Assistance Budget Instructions page (and may also be viewed in a separate browser window via a link in the top left corner of the "School: Budget" screens).
- After logging in to GAP Access, only those staff members who have been granted appropriate privileges will be able to access the "Budget" option from within the "School" area of the system.
- On the "School: Budget" screens for all three programs (MAP, IVG and ING Grant), any prior use of the word "base" will now display as "main."
- Budget data must be reported for each approved program (MAP, IVG and/or ING Grant), and each approved school code within a program, before it is certified.
- All previously-reported MAP, IVG and/or ING Grant school codes that currently appear in GAP Access must have values greater than 0 ("zero") entered before the budget can be certified (the field cannot be left blank).
- Functionality allowing colleges to report new codes (with differential tuition and fee rates) is anticipated to be available in July.
- After the budget information for all approved codes and all approved programs has been entered, saved and confirmed and the institution's required tuition refund policy document has been uploaded and saved, the financial aid director will need to submit the data by selecting the "Certify" button.
- If you have questions, contact a School Services Representative at 866.247.2172 or firstname.lastname@example.org.
Do You Want to Change How Your MAP Awards are Calculated?
The majority of schools calculate term awards by the "cents" option, but if you're interested in switching to the "no cents" option (or vice versa), simply contact ISAC's School Services Department to discuss how to make the change. Any such revisions must be done prior to the start of the payment claim process for the upcoming award year.
You are receiving this message because you registered for ISAC's e-Messaging service through one or more subscription groups for FAAs.