2023-24 NES Payment Processing
12/14/2023
Unless otherwise noted, links in this message are to corresponding pages at the Illinois Student Assistance Commission (ISAC) website (isac.org).
The 2023-24 Nursing Education Scholarships (NES) payment processing cycle has commenced, and colleges may submit payment requests (claims) for the fall term via the NESP system.
Payment records that schools have saved will display a Status of "U." Payment records that schools have submitted will display a Status of "S." Once ISAC begins processing submitted claims, only records with a Status of "S" will receive payment results. The NES area of ISAC's website will be updated once payment results are available for schools to view – at that time, schools will also be able to generate payment reports.
The fall-term priority claim deadline date will be announced once it has been determined.
The NES User Guide has been updated to reflect the 2023-24 payment process. Details regarding the payment process are also available via the NES Payment page.
What's New
The changes indicated below have taken effect with 2023-24 NES payment processing.
- Awarded living allowance funds that had been disbursed directly to eligible full-time students as a "stipend" in the 2022-23 and earlier academic years are now included in the payment amount requested by and paid to the college (i.e., NES awards no longer have a stipend component).
- If the recipient is enrolled, the institution may credit the scholarship funds to the recipient's account for expenses due and payable.
- If appropriate, any balance is to be returned to the recipient.
- Funds resulting from each payment request submitted via the NESP system are delivered to the college in a lump sum (either electronically or as a check, depending on how the college has set up their payments), rather than as individual checks for each recipient that had been co-payable to the student and school.
- Payment Offset and Reconciliation procedures now apply to Nursing Education Scholarships.
- Refund checks should not be sent for cancellations/adjustments made throughout the award year.
- Funds should only be returned to ISAC after a final reconciliation has been completed at the end of the regular school year.
Watch for Updates
Program updates – including notification of when schools will see 2023-24 payment results in the NESP system – will be announced via our usual means of communication: the FAA Message Board, the NES Program News page, and/or this e-Messaging system.
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 [email protected].