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MTI Payment, Disbursement & Refunds

{ISAC Rules, Part 2763.40 and Section 2700.05}

Payment
Disbursement
Refunds

Payment

When the awarding process (which is based on the Initial Certification Documents that have been returned to ISAC by the requested receipt date) is complete, a TESP Payment Request Roster that includes the information the school provided on the Initial Certification Document is produced and is available on TESP Certification at My Zone. TESP Payment Request Rosters can then be completed and submitted electronically to ISAC in a secure method via TESP Payment Request Roster at My Zone.

A new TESP Payment Request Roster is produced weekly and is available at TESP Payment Roster at My Zone whenever new awards are made. The Eligibility Certification statement page and the totals page that were previously part of the paper roster have been eliminated. By submitting a roster to ISAC via TESP Payment Roster at My Zone, a school is certifying that the student meets all eligibility criteria. It is important to complete and submit a payment roster on a timely basis so that ISAC can monitor the fund balance and make awards to eligible unfunded students as early as possible in the academic year.

Students who are determined eligible for both TESP programs, will appear on only the roster of the program for which they were funded. If a student is eligible but no funds are available for the scholarship, a notification is sent to the student. A listing of students in the Eligible-Unavailable Funds category can be viewed at TESP Notification at My Zone.

Refer to the TESP Payment Request Roster and the TESP Payment Authorization pages at TESP at My Zone for details about the TESP online payment process, how to submit a payment request roster and how to view, print and save payment results.

Disbursement

ISAC authorizes a voucher in the amount of the payment claim and submits it to the State Comptroller's Office which issues payment to the institution. Awards are made in multiple disbursements. The maximum award amount per regular school year is $5,000. For full-year awards, semester schools receive two disbursements; quarter schools receive three disbursements.

Multiple disbursements are not required in cases where the recipient’s eligibility is not determined until the final term of the award year for which the scholarship is being awarded. If the student has applied for or is enrolled in a term(s) which is less than the award year, he or she may receive the full $5,000.

Upon receipt of the scholarship funds, the school shall verify the student's enrollment status for the term for which the award was intended. If enrolled, the institution may credit the scholarship funds to the recipient’s account for expenses due and payable. The balance of the disbursement is to be released to the recipient.

If a student fails to meet any of the eligibility requirements during the academic year, all undisbursed funds will be deobligated and awarded to the next eligible student.


Students who no longer qualify for the scholarship will receive a Notification of Disqualification from ISAC.

Refunds

Upon receipt of a disbursement, the school must verify each recipient’s enrollment status for the term for which payment was made. If the recipient has withdrawn, the school must return the amount of the scholarship payment to ISAC.

The school must return the funds to ISAC within 60 days after the receipt of the payment or the end of the term, whichever date is later.

When returning funds to ISAC, the school is to use the Check Return Form and follow the procedures found at Refunds and Unpaid Claims.