ISAC Student Portal2022-23 MAP Update (Summary of April 14 Commission Meeting)
04/19/2022
The following highlights some of the agenda items included at the April 14, 2022 meeting of the Illinois Student Assistance Commission (ISAC), and any action taken. Details regarding several of the topics discussed at the meeting are provided in the April 14 Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission section of the About ISAC area at isac.org.
Of particular interest to the financial aid community is an update on the status of the Monetary Award Program (MAP) for the 2022-23 academic year.
FY23 (2022-23 Academic Year) MAP Update – Agenda Item 7
The fiscal year 2023 (FY23) state operating budget – which was approved earlier this month and is anticipated to be signed into law by the governor soon – includes a historic high MAP appropriation of approximately $601 million, which is $122 million more than had been appropriated for 2021-22 MAP awards. An estimated $575 million of these funds will provide grants to the current population (compared to $470 million in FY22) and approximately $15 million will be used to pay for an expansion of MAP to cover credit-bearing short-term certificate programs at community colleges and public universities, a new initiative included in the budget implementation language.
Various factors have contributed to years of decreasing application volume. While fewer people seeking education is not considered a positive, the combination of decreased demand and increased funding creates a perfect environment for improving college affordability for MAP-eligible students. Although MAP coverage of tuition and fees, which has declined in all sectors, cannot be completely restored with the FY23 budget, substantial gains can be made. The increased appropriation could provide a long-overdue opportunity to increase the size of MAP grants and incorporate more recent – perhaps even current – tuition and fee rates in the formula used to determine eligibility. Combined, these changes would improve college affordability for low-income students.
In the coming weeks, ISAC staff will continue to monitor FY23 application volume and use updated data to analyze MAP formula changes. A meeting with the Illinois Association of Student Financial Aid Administrators (ILASFAA) MAP Formula Committee, to discuss FY23 MAP recompute issues and gain insights from schools, is planned for later in the spring.
Continue to monitor our established methods of communication (i.e., MAP Program News, the FAA Message Board and this e-Messaging service) throughout the year for operational updates and other program information.
Other Items
The following items were also presented to the Commission:
- College Illinois!® Prepaid Tuition Program investment and program updates – Agenda Items 3 & 4
- State legislative update – Agenda Item 6
- Proposed administrative program rules and amendments – Agenda Item 8
Next Meeting
The next Commission meeting is scheduled to take place on Thursday, June 16, 2022.
You are receiving this message because you registered for ISAC's e-Messaging service through one or more subscription groups for FAAs.
If you have any questions regarding this e-Message, please contact ISAC's School Services Department by calling toll free at 866.247.2172 or sending an e-mail message to isac.schoolservices@illinois.gov.
