2022-23 MAP Start-up Formula Approved
The following highlights some of the agenda items included at the September 16, 2021 meeting of the Illinois Student Assistance Commission, and any action taken. A listing of the agenda items is provided in the September 16 Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission section of the About ISAC area of ISAC's website.
FY2023 (2022-23 Academic Year) MAP Start-up Formula Approved – Agenda Item 5
Because the fiscal year 2022-23 (FY2023) state budget process has not yet begun, when developing the proposed start-up formula, staff assumed that the Monetary Award Program (MAP) will receive $479.5 million, which is level with the FY2022 appropriation. Following the FY2022 recompute formula, staff recommended and the Commission approved using a living allowance of $5,020 for 2022-23 academic year MAP grants, with a maximum award of $5,496. The approved start-up formula is outlined in the MAP section within the ISAC Gift Assistance Programs area of the website.
Operational details regarding implementation of the FY2023 MAP start-up formula will be communicated in a future e-Message.
Encourage Students to Submit 2022-23 FAFSA® or Alternative Application after October 1
Given the likelihood that 2022-23 MAP award announcements will need to be suspended at some point during the processing cycle, colleges are reminded to encourage students to submit the 2022-23 Free Application for Federal Student Aid (FAFSA®) or the Alternative Application for Illinois Financial Aid (Alternative Application) as soon as possible after the applications become available on October 1, 2021.
2022-23 Priority Deadline Date for Returning MAP Recipients – December 1, 2021
The 2022-23 priority deadline date by which returning MAP recipients are to submit their FAFSA or Alternative Application in order to receive priority access to appropriated funds is December 1, 2021 (through and including). Returning recipients are students who received MAP funds during the previous academic year, i.e., for 2022-23, students who received MAP for 2021-22. All MAP eligibility requirements must continue to be met.
The following additional items were presented to and approved by the Commission:
- 2022 Meeting Dates – Agenda Item 1
- Proposed Administrative Rules Amendments –Agenda Item 6
The next Commission meeting is scheduled to take place on Thursday, December 2, 2021.
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