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2019-20 MAP Start-up Formula Approved (Summary of September 13 Commission Meeting)*

09/18/2018

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The following highlights some of the agenda items included at the September 13, 2018 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 September 13 Agenda Book, which can be accessed from the ISAC's Governing Board: The Commission section of the About ISAC area at isac.org.

FY2020 (2019-20 Academic Year) MAP Start-up Formula Approved – Agenda Item 5

Following the fiscal year 2019 (FY2019) recompute formula, staff recommended and the Commission approved using FY2010 tuition and fees and including a two percent reduction factor for 2019-20 academic year Monetary Award Program (MAP) grants (making the effective maximum award $4,869.00). The approved start-up formula is outlined in Table Four of Agenda Item 5, and may also be found in the MAP section within the ISAC Gift Assistance Programs area of ISAC's website (isac.org).

Continue to monitor our established methods of communication (including the MAP Program News area and the FAA Message Board) for operational updates throughout the year.

Encourage Students to Submit 2019-20 FAFSA after October 1

Given the likelihood that 2019-20 MAP award announcements will need to be suspended at some point during the processing cycle, it is strongly recommended that colleges encourage students to submit the 2019-20 Free Application for Federal Student Aid (FAFSA®) as soon as possible after it becomes available on October 1, 2018.

Non-Action Items

The following non-action items were presented to the Commission:

Next Meeting

The next Commission meeting is scheduled to take place on Thursday, December 6, 2018.

If you have any questions, please contact a School Services Representative by calling 866.247.2172 or by sending an e-mail message to isac.schoolservices@illinois.gov.