JB Pritzker, Governor, State of Illinois

ISAC Update

VOL. 37, NO. 2L
December 2019

Messages sent to: Operational Updates, Announcements
  ISAC Update

Welcome to the December 2019 ISAC Update for lenders and servicers, which is a quarterly compilation of e-Messages sent through ISAC's e-Messaging service throughout October, November, and December.

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

Questions?

Questions regarding information in this ISAC Update can be directed to Lender Services by sending an e-mail message to ISAC.lenderservices@illinois.gov or calling 800.477.4411.

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.


OPERATIONAL UPDATES, ANNOUNCEMENTS


A Holiday Wish from ISAC
Sent on December 9, 2019.

Season's Greetings 2017

Illinois Student Assistance Commission (ISAC) staff wish our lender and servicer partners a very happy holiday season.

As the new year approaches, we remain committed to serving you, your clients, and all Illinois families by providing access to the information and financial assistance that can help students succeed in college.

Best wishes for a successful 2020.

ISAC's Holiday Schedule

In observance of the holidays, ISAC staff will be unavailable as indicated below:

Christmas Holiday Observation

  • After 2 p.m. (CT) on Tuesday, December 24, 2019
  • Wednesday, December 25, 2019

New Year's Holiday Observation

  • After 2 p.m. (CT) on Tuesday, December 31, 2019
  • Wednesday, January 1, 2020

Our offices will reopen the first business day immediately following each holiday.

Access the Lenders area anytime, or send an e-mail message to ISAC's Lender Services Department. With the exception of days when the ISAC offices are closed, ISAC staff will review and respond to messages during regular business hours of Monday through Friday, 8:30 a.m. – 4:30 p.m. CT.

Processing Schedules

Click on the following link to access holiday processing schedules for Common Account Maintenance (CAM) files.

CAM Files


Unreported Loans Report Distributed
Sent on November 25, 2019.

Responses Due on or before January 31, 2020

The Illinois Student Assistance Commission (ISAC) distributed the National Student Loan Data System (NSLDS®) Lender Manifest Report of Unreported Loans (Unreported Loans Report), including a cover letter with helpful reminders, on November 22, 2019. Responses are due on or before Friday, January 31, 2020. We provide this report to lenders and servicers twice a year, in order to assist in determining whether all loans that appear in a loan portfolio have been reported to ISAC.

While the majority of lenders and servicers receive the Unreported Loans Report electronically via the File Transfer Protocol (FTP) process, those who have not taken the steps necessary to exchange NSLDS-Lender Manifest data via FTP receive the reports via fax.

The Unreported Loans Report lists the following:

  • open loans that have not been updated via Lender Manifest (this could be due to the inability to match incoming loan records to information on ISAC's database, or due to errors causing the record to reject); and
  • any loan with an open loan status that does not reflect an update within the past 180 days.

Please take the time to review the loans listed and make the necessary data corrections by January 31, so that these loans can be successfully reported on your next monthly Lender Manifest submission.


Save the Date – Thursday, July 9, 2020
Sent on November 20, 2019.

CCE Conference Logo

Save the Date – Thursday, July 9, 2020

Please mark your calendars for the 2020 College Changes Everything® Conference – the state's premier college access and success event. This one day conference showcases best practices, collaborations, and resources available to promote and support student college and career readiness and to help Illinois reach its Goal 2025 – to increase the proportion of adults in Illinois with high-quality degrees and postsecondary credentials to 60% by the year 2025. The conference will take place at the Tinley Park Convention Center, Tinley Park, Illinois.

A call for interest session proposals will go out in January. Please consider submitting a proposal to help make the conference a valuable professional development experience by sharing your knowledge and experience with colleagues from all over the state.

One of the strengths of the conference is that it brings together the diverse stakeholders from across the state needed for student success: college access practitioners; high school leaders, counselors, and case managers; college and university leaders and administrators; employers and workforce development professionals; and policy makers and elected officials interested in education and student outcomes. The conference also serves as an opportunity for stakeholders to improve their practice of collaboration and collective leadership as we work toward the state's goal.


2020 College Changes Everything Conference Planning Committee

  • Illinois Student Assistance Commission
  • Illinois Board of Higher Education
  • Illinois Community College Board
  • Illinois Department of Commerce and Economic Opportunity
  • Illinois State Board of Education
  • Illinois College Access Network
  • Federation of Independent Illinois Colleges and Universities
  • Advance Illinois
  • Center for the Study of Education Policy at Illinois State University
  • Education Systems Center at Northern Illinois University
  • Generations Serving Generations
  • ACT Now
  • Women Employed

The College Changes Everything® Conference is sponsored
by the Illinois Student Assistance Commission.

Helping Illinois reach its Goal 2025: to increase the proportion
of adults in Illinois with high-quality college degrees and
postsecondary credentials to 60% by the year 2025


CCE


Unreported Loans Report in Late November
Sent on November 4, 2019.

The Illinois Student Assistance Commission (ISAC) plans to distribute the National Student Loan Data System (NSLDS®) Lender Manifest Reports of Unreported Loans (Unreported Loans Report) by the end of November 2019. We provide this report to lenders and servicers twice a year, in order to assist in determining whether all loans that appear in a loan portfolio have been reported to ISAC.

While the majority of lenders and servicers will receive the Unreported Loans Report electronically via the File Transfer Protocol (FTP) process, those who have not taken the steps necessary to exchange NSLDS-Lender Manifest data via FTP will receive the reports via fax.

The Unreported Loans Report will list the following:

  • open loans that have not been updated via Lender Manifest (this could be due to the inability to match incoming loan records to information on ISAC's database, or due to errors causing the record to reject); and
  • any loan with an open loan status that does not reflect an update within the past 180 days.

Once the report is received, please take the time to review the loans listed and make the necessary data corrections so that these loans can be successfully reported on your next monthly Lender Manifest submission.


2020-21 FAFSA® and Important Dates
Sent on October 2, 2019.

The Illinois Student Assistance Commission (ISAC) would like to make you aware of the following information, which may be of interest to you and/or your customers.

Unless otherwise noted, links in this message are to corresponding pages at ISAC's website (isac.org).

Financial Aid Planning Resources Available for 2020-21 FAFSA® Cycle

Let students and their families know that the 2020-21 Free Application for Federal Student Aid (FAFSA®) cycle, including FAFSA on the Web, opened on October 1, 2019.

Details regarding the 2020-21 application cycle may be accessed via the Applying for Financial Aid section of the e-Library for Partners.

Check out the Financial Aid Planning area for information regarding resources that are available to help students complete the financial aid process. Several events, including FAFSA completion workshops, will take place across the State of Illinois over the next several weeks. Encourage your customers to attend the event that best fits their schedule.

November 2019: Next Unreported Loans Report to Be Distributed

ISAC plans to distribute the next National Student Loan Data System (NSLDS®) Lender Manifest Report of Unreported Loans (Unreported Loans Report) during the month of November 2019. This report is provided to lenders and servicers twice a year in order to assist them in determining whether all loans that appear in their loan portfolios have been reported to ISAC via their NSLDS Lender Manifest Report (Lender Manifest).

If you have not already done so, please take the time to review the loans listed on the May 2019 Unreported Loans Report and make the necessary data corrections so that these loans can be successfully reported on your next monthly Lender Manifest submission.

December 5: Next Commission Meeting

The next meeting of the Illinois Student Assistance Commission is scheduled to take place Thursday, December 5, 2019, at 1 p.m. (CT) at the Michael A. Bilandic Building in Chicago.

A listing of tentative agenda items will be available prior to the meeting via the ISAC's Governing Board: The Commission section of the About ISAC area.

The tentative 2020 meeting schedule was approved at the September 12, 2019 meeting of the Illinois Student Assistance Commission, and will soon be posted at the Commission Meeting Schedule page.

Holiday Schedules

ISAC offices will be closed for these holidays:

  • Monday, October 14, 2019 – Columbus Day
  • Monday, November 11, 2019 – Veterans Day
  • Thursday, November 28, 2019 – Thanksgiving Day
  • Friday, November 29, 2019 – Day after Thanksgiving
  • Wednesday, December 25, 2019 – Christmas Day
  • Wednesday, January 1, 2020 – New Year's Day

Our offices will reopen the first business day immediately following each holiday.

Processing Schedules

Click on the following link to access holiday processing schedules for Common Account Maintenance (CAM) files.

CAM Files

For Assistance

Access the Lenders area anytime, or send an e-mail message to ISAC's Lender Services Department. With the exception of days when the ISAC offices are closed, ISAC staff will review and respond to messages during regular business hours of Monday through Friday, 8:30 a.m. – 4:30 p.m. CT.

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ISAC UPDATE


September 2019 Electronic ISAC Update
Sent on October 1, 2019.

The September 2019 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 lenders and servicers via ISAC's e-Messaging service over the past quarter.

Topics covered in the September 2019 ISAC Update include:

  • Upcoming Important Dates from ISAC
    (sent September 5, 2019)
  • Time's Running Out – Register for CCE Conference
    (sent July 8, 2019)
  • June 2019 Electronic ISAC Update
    (sent July 1, 2019)

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