2023-24 MAP Recompute Formula Approved – System Implementation this Weekend
Summary of June 22 Commission Meeting
The following highlights some of the agenda items included at the June 22, 2023 meeting of the Illinois Student Assistance Commission (ISAC), and any action taken. The complete listing of agenda items is available in the June 22 Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission section of the About ISAC area at isac.org.
FY24 (2023-24 Academic Year) MAP Recompute Formula Approved – Agenda Item 6
Each year, ISAC is responsible for adopting an allocation (or, "start-up") formula for the Monetary Award Program (MAP) and then – once the state operating budget has been signed into law – the Commission approves a recompute formula based on the MAP appropriation. At its September 22, 2022 meeting, the Commission approved a start-up formula to enable financial aid administrators to calculate eligibility for applicants planning to attend college in the 2023-24 academic year.
The fiscal year 2024 (FY24) state operating budget has been approved and signed into law by the governor, and includes a historic high MAP appropriation (approximately $701 million, which is $100 million more than had been appropriated for 2022-23 MAP awards). This increased appropriation allows for the continued restoration – started with FY23 appropriations – of some of the previously-declining MAP grant tuition and fee coverage. Although it is too soon to know actual FY24 sector average tuition and fee figures, projections indicate the highest MAP grant may cover tuition and fee amounts close to 60 percent at community colleges, 50 percent at public universities, and 19 percent at private schools.
As a result, ISAC staff recommended – and the Commission approved – a recompute formula that increases the maximum 2023-24 MAP award from $7,200 to $8,400 and the living allowance from $5,020 to $5,200. 2021-22 tuition and fee amounts and the 2021-22 Pell table continue to be used in the formula, as was the case with the 2023-24 start-up formula.
The approved recompute formula is outlined in the 2023-24 MAP Formula section of ISAC's website, which has been updated to reflect "recompute."
The 2023-24 MAP recompute formula is anticipated to be reflected in the MAP system on Monday, June 26, 2023.
Temporary MAP System Outage Starting This Afternoon (June 23)
In order to prepare the system for the implementation of the 2023-24 recompute formula, we anticipate the MAP component of the ISAC Gift Assistance Programs (GAP) Access portal being unavailable beginning at 2 p.m. CT today (Friday, June 23, 2023).
A follow-up e-Message will be sent when the MAP system is again available and reflecting the 2023-24 recompute formula, anticipated to be the morning of June 26. At that time, all 2023-24 Institutional Student Information Record (ISIR) data received from the Central Processing System (CPS) through (including) Friday, June 23, 2023, will be reflected in the MAP system and daily processing of ISIR data will resume.
Continue to monitor our established methods of communication (i.e., MAP Program News, the FAA Message Board and this e-Messaging service) for operational updates, including any changes to the anticipated timeframe in which the recompute formula will be reflected in the MAP system.
State Legislative Update – Agenda Item 5
The Illinois General Assembly concluded its Spring legislative session in May, and it was another consequential one for students and the higher education sector.
The latest State Legislative Update, now available in the e-Library, highlights legislation that affects programs administered by ISAC or the agency's mission of college access and affordability. Also included is information on the budget for ISAC programs for state fiscal year 2024, which begins July 1, 2023.
With respect to ISAC, highlights from this session included:
- a $100 million increase in funding for the Monetary Award Program (MAP), plus an increase in the maximum grant allowed per student;
- the extension of the AIM HIGH grant program for public universities, with some programmatic changes;
- a $10 million appropriation for ISAC to establish a new program that will provide undergraduate students with test preparation services for graduate and professional school entrance exams and professional licensing exams; and
- a new grant program for students in information technology fields that will require recipients to work in those fields in Illinois upon graduation or repay the amounts received.
The General Assembly's fall session, at which any veto action would be considered, is scheduled for October 24-26 and November 7-9.
The following items were also presented to the Commission:
- FY24 Budget Review and Approvals – Agenda Item 7
- College Illinois!® Prepaid Tuition Program Investment and Program Updates – Agenda Item 9
The next Commission meeting is scheduled to take place on Thursday, September 21, 2023.
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