ISAC Update

VOL. 41, NO. 8F
February 2024

Welcome to the February 2024 ISAC Update for financial aid administrators and business officers. This version of the electronic ISAC Update is a compilation of e-Messages sent through ISAC's e-Messaging service throughout February.

The articles in this Update have been organized according to the FAA subscription groups to which the messages were distributed.

Questions?

Questions regarding information in this ISAC Update can be directed to School Services at 866.247.2172 or at isac.schoolservices@illinois.gov. On occasion, you may be directed to a specific contact person or area; when this occurs, we will provide the appropriate information in the individual article or message.

MULTIPLE SUBSCRIPTION GROUPS

Coming Soon: Changes to ISAC's Partner Services!
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools – Participating in the ING Grant and IVG Programs, MAP Users, Business Officers, ECACE Administrators, and NES Schools on February 26, 2024.

We'll be sharing additional high-level details at the upcoming ILASFAA conference and any additional information once the transition is complete. In the interim, we ask that you please continue to send all inquiries to:

We know there may be some delays and speedbumps as we make this transition, and we are responding to e-mail and phone inquiries as rapidly as we can. ISAC staff from several areas of the division are working together in the short-term to provide school partners with up-to-date information and guidance. The Partner Services team is increasingly taking on more of the responsibilities, so we are optimistic for a smooth transition once it's fully underway. We thank you for your patience and understanding as we implement our plan.

As a reminder, the ISAC website has many resources to answer general questions; here are some areas you will find helpful:

• Partner Training page
• FAA Processes – "How To" section for operational guidance, as well as an overview of products or services, available to assist you in the administration of ISAC's financial aid programs
• FAA Electronic Tools – Electronic tools and specifications for loan and grant payment processing
  • 24-25 MAP 160 Byte File Layout
  • 24-25 Alternative Application Student Record School File Layout
  • FTP Process Using GAP Access Credentials
• ISAC Gift Assistance Programs
• ISAC Gift Assistance Applications

Join Us to Learn about the One-Time Income-Driven Repayment (IDR) Account Adjustment
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools – Participating in the ING Grant and IVG Programs, MAP Users, Business Officers, ECACE Administrators, and NES Schools on February 22, 2024.

Millions of federal loan borrowers have received loan forgiveness or updated payment counts due to the one-time IDR Account Adjustment. The adjustment is a set of temporary changes that allows federal student loan borrowers to receive credit for certain previously ineligible payments while under an IDR plan and/or pursuing Public Service Loan Forgiveness (PSLF).

This one-time adjustment period is coming to an end and the Illinois Student Assistance Commission (ISAC) wants to make all federal student loan borrowers aware of this opportunity! To help borrowers across the state, ISAC is hosting free webinars – from now until the end of April – on how federal direct loan and FFEL borrowers can navigate this process. To learn more, visit the Federal Student Loan Forgiveness page.

For registration details, visit the Professional Development Webinar Calendar. For questions, contact isac.borrowersupport@illinois.gov.

Countdown to April 30: How to Benefit from Federal Student Loan Debt Relief

Join us on one of these dates in February or March to learn about the steps you can take to apply and what happens after applying for the adjustment. All webinars are in Central Time (CT).

• Wednesday, February 28, 1-1:45 p.m.
• Wednesday, March 13, 9-9:45 a.m.
• Tuesday, March 26, 3-3:45 p.m.

April webinar dates will be announced once they have been scheduled.

Submit 2023-24 MAP Second-Term Claims by March 22 – Third-Term Claims to be Accepted Starting on March 21
Sent to Financial Aid Directors, Financial Aid Administrators, MAP Users, and Business Officers on February 21, 2024.

As announced in a December 21 e-Message, the Illinois Student Assistance Commission (ISAC) is accepting second-term payment requests (i.e., claims) for the 2023-24 Monetary Award Program (MAP).

In order to be considered timely, 2023-24 MAP payment requests for the second term must be submitted on or before March 22, 2024 (the priority claim deadline date). Any claims (including initial requests and increases to previously-submitted claims) submitted after a term's priority claim deadline date will be considered late and will only be paid if funds remain after paying all timely claims.

Colleges may submit both first- and second-term payment claims by accessing the MAP system, as well as by File Transfer Protocol (FTP), and are encouraged to do so as soon as possible. Even though the MAP priority claim deadline date of December 8, 2023 has passed, ISAC is continuing to accept first-term claims and will hold them as late, to be considered for payment later in the year. Colleges are encouraged to continue submitting cancellations and adjustments to decrease a previously-submitted claim for both the first and second terms.

We anticipate the MAP system being available for the submission of third-term claims (i.e., for the third quarter, or for the second semester for institutions where the second semester begins after February 15) on March 21, 2024. The 2023-24 MAP priority claim deadline date for the third term will be announced once it has been established.

When submitting claims, remember that ISAC has suspended the announcement of 2023-24 MAP award announcements for all students whose initial 2023-24 Free Application for Federal Student Aid (FAFSA^®), or whose initial Alternative Application for Illinois Financial, is submitted on or after September 23, 2023.

Payment Results

The timely submission of claims and cancellations/adjustments allows ISAC to monitor remaining funds and award other students, as applicable. Colleges should always review the Payment Results/Exceptions report, which is available the day after claims are processed. MAP payment results are available for review every weekday.

Disbursement and Reconciliation

The disbursement of funds is processed by the State Comptroller's Office.

• Refer to the State Comptroller's website page, located within the Processes section of the Financial Aid Administrators area, for information on how to track payment.
• Refer to the MAP Payment area to view information regarding a report for tracking payment vouchers and warrants available via the online system.

Because Payment Offset and Reconciliation procedures apply to MAP, refund checks should not be sent for cancellation/adjustments made throughout the award year. Funds should be returned to ISAC only after a final reconciliation has been completed at the end of the regular school year.

More information regarding payment functionality, including detailed instructions, is available at:

• MAP Electronic Processing
• MAP User Guide

Future program updates will be shared via ISAC's standard methods of communication, including the MAP Program News area, the FAA Message Board and this e-Messaging service.

Travel to the 2024 ILASFAA Conference and Join ISAC at Some of Our Sessions
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools – Participating in the ING Grant and IVG Programs, MAP Users, Business Officers, ECACE Administrators, and NES Schools on February 20, 2024.

Great Scott! The 55^th Illinois Association of Student Financial Aid Administrators (ILASFAA) Annual Conference will be happening soon! The conference is being held March 4-6, 2024, at the DoubleTree by Hilton Hotel in Bloomington, IL. The theme this year is Back to the Future, Pre-Pandemic vs. Post-Pandemic, and there's still plenty of time to register.

Several staff members from the Illinois Student Assistance Commission (ISAC) plan to attend and we look forward to seeing everyone there. Please plan to join us at one or more of the following sessions being presented by ISAC:

• ISAC Update – General Session
  Tuesday, March 5, 10:30-11:30 a.m.
  ISAC Presenters: Eric Zarnikow – Executive Director; Stephanie Schmitz-Bechteler – Managing Director, Program Services & Compliance; Katharine Gricevich – Director, Government Relations

Interest Sessions:

• Self-Care in Public Service
  Monday, March 4, 1:15-2:15 p.m.
  ISAC Presenter: Dada Ibrahimovic – Capacity Development & Training

• Taking the Alternative Application into the Future: A Review of the 2024-25 Application Process
  Monday, March 4, 1:15-2:15 p.m.
  ISAC Presenters: Daniela Rios – Program Services & Compliance; Manuel Talavera – Capacity Development & Training

• ISAC Outreach Services and Initiatives
  Monday, March 4, 2:45-3:45 p.m.
  ISAC Presenter: Thomas Semanic – Capacity Development & Training

• The Past and Future Flux Capacitors of Need Analysis – EFC vs. SAI
  Monday, March 4, 2:45-3:45 p.m.
  ISAC Presenter: Kim Eck – Program Services & Compliance

• A Quick Trip Through ISAC's New Programs and a Review of the Classics
  Tuesday, March 5, 8-9 a.m.
  ISAC Presenter: Stephanie Claudio – Program Services & Compliance

• Great Scott! It's Time for an ISAC Program Review. What to Know and How to Prepare.
  Tuesday, March 5, 8-9 a.m.
  ISAC Presenters: Kim Eck – Program Services & Compliance; Sherry Schonauer – Program Services & Compliance

• What You Need to Know about Federal Student Loan Repayment
  Tuesday, March 5, 2:30-3:30 p.m.
  ISAC Presenter: Elizabeth Groves – Capacity Development & Training

• Beyond a Completion Percentage (Data Interpretation)
  Wednesday, March 6, 9:45-10:45 a.m.
  ISAC Presenter: Ana Moya – Capacity Development & Training

• Great Scott! It's Time for an ISAC Program Review. What to Know and How to Prepare. (Repeat)
  Wednesday, March 6, 9:45-10:45 a.m.
  ISAC Presenters: Kim Eck – Program Services & Compliance; Sherry Schonauer – Program Services & Compliance

All times listed are Central.

To register and for more information about the conference, including session room locations and an agenda listing the many other great sessions being offered, visit the conference area of the ILASFAA website at ilasfaa.org.

Waitlist Available for the First Annual First Gen Symposium
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools – Participating in the ING Grant and IVG Programs, MAP Users, Business Officers, ECACE Administrators, and NES Schools on February 13, 2024.

We are looking forward to welcoming First Gen Symposium attendees to North Central College in Naperville, Illinois on Monday, March 11, 2024. Registration has reached full capacity, therefore, those still interested in attending can join the waitlist. For more information about the waitlist, visit the First Gen Symposium page.

For those who have already registered, thank you! If you are no longer able to attend, contact isac.outreachtraining@illinois.gov, so someone from the waitlist can attend.

First Gen Exhibit

As part of our symposium, we want to feature professionals like you, who were first generation students! If you would like to participate by having your photo and where you attended school displayed in our exhibit, please fill out our survey by 11:59 p.m. on Friday, February 16, 2024.

February Webinars for FAAs
Sent to Financial Aid Directors, Financial Aid Administrators, Public Schools – Participating in the ING Grant and IVG Programs, MAP Users, Business Officers, ECACE Administrators, and NES Schools on February 2, 2024.

The Illinois Student Assistance Commission (ISAC) will offer the following webinars for financial aid administrators during the month of February.

• Tuesday, February 13, 10 a.m. – Policies & Procedures Webinar about GAP Access
• Wednesday, February 28, 2 p.m. – Monthly Operational Update and Program News

To participate, visit the Partner Training page in the e-Library on the day of the event to access the webinar link and presentation materials.

MAP Priority Date for Returning Recipients Extended
Sent to Financial Aid Directors, Financial Aid Administrators, MAP Users,and  Business Officers on February 1, 2024.

The following information is being shared to assist colleges in the administration of the Monetary Award Program (MAP).

In light of the delayed launch of the 2024-25 Free Application for Federal Student Aid (FAFSA^®) and subsequent persistent technical issues, as well as the significant processing delay recently announced by the U.S. Department of Education (ED), the priority date for returning MAP recipients has been moved from February 1 to April 1, 2024.

As a reminder, a returning applicant's failure to complete the FAFSA or Alternative Application for Illinois Financial Aid (Alternative Application) by the announced priority date does not disqualify any applicant from receiving a grant if sufficient funding is available to provide awards after that date. MAP dollars are awarded equitably to qualified applicants, based on the formula, regardless of their returning status. ISAC is obligated by legislative action to set and announce a priority date, but that date is not a deadline date for FAFSA or Alternative Application completion.

We encourage you to share this information with those in your office who work with MAP, especially those who communicate directly with students.

Return to Top

ISAC UPDATE

January 2024 Electronic ISAC Update
Sent on February 1, 2024.

The January 2024 edition of the ISAC Update is now available for your review, and may be accessed via the Partner e-Messages & Newsletters section of the e-Library for Partners at isac.org. This version of the electronic ISAC Update is a compilation of e-Messages sent to financial aid administrators and business officers via ISAC's e-Messaging service over the past month.

Topics covered in the January 2024 ISAC Update include:

• Registration Now Open for the First Annual First Gen Symposium!
  (sent January 25, 2024)
• Register for the 2024 ILASFAA Annual Conference: March 4-6
  (sent January 23, 2024)
• 11th Annual Illinois Education and Career Success Network Conference
  (sent January 22, 2024)
• Submit 2023-24 Winter- and Spring-Term Data for the NES, Social Work Scholarship, ING Grant and IVG Programs
  (sent January 19, 2024)
• Submit 2023-24 MTI and Golden Apple Second-Term Claims
  (sent January 12, 2024)
• Submit 2023-24 ECACE Claims for Second and Third Terms
  (sent January 11, 2024)
• Save the Date for the First Annual First Gen Symposium!
  (sent January 10, 2024)
• January Webinars for FAAs
  (sent January 5, 2024)
• 2024-25 FAFSA, Alternative Application, and Important Dates
  (sent January 3, 2024)
• December 2023 Electronic ISAC Update
  (sent January 2, 2024)

Return to Top