 Welcome to the FAA Zone
At your fingertips, Financial Aid Administrators, Business Officers, and other school personnel have access to a centralized source of information and financial aid guidance concerning ISAC's programs, processes, and resources.
FAA Message Board
The FAA Message Board is updated each week. New messages for the week are identified by the  Items under the More section, located toward the bottom of the page, provide links to information on topics that were recently listed on this Message Board.
ISAC anticipates that the 2008-09 MAPnet system will reflect all changes related to the Monetary Award Program (MAP) recompute process on Tuesday, July 8th. In order to allow for all necessary system changes to be completed, the 2008-09 MAPnet system will be unavailable beginning at 5 p.m. on Thursday, July 3rd. Further details are provided in a June 30th e-Message.
June 30th e-Message provides a summary of the June 27th meeting of the Illinois Student Assistance Commission (ISAC). Included is information regarding approval of the recompute formula for the 2008-09 Monetary Award Program (MAP), as well as a revision to ISAC's default fee payment policy.
Several online resources provide information regarding changes that are being implemented as a result of recently-enacted legislation [such as the Ensuring Continued Access to Student Loans Act of 2008 (ECASLA) and the College Cost Reduction and Access Act (CCRAA)]: an Ensuring Continued Access to Student Loans page has been developed by the U.S. Department of Education (ED) to publish and disseminate information about ED's authority to purchase loans under ECASLA; an Ensuring Continued Access To Student Loans Act (H.R. 5715/P.L. 110-227) Resources page is available from the National Association of Student Financial Aid Administrators (NASFAA) to access related policy statements, Dear Colleague Letters, summaries and analyses, and media coverage all in one location; and the Federal Information page at College Zone's e-Library provides timely Federal Updates and the latest word on federal regulations. Be sure to regularly visit these sites for current information on a variety of federal topics, including FFELP interest rates, loan limits, fees, and policy and processing updates.
Due to the Independence Day holiday, ISAC offices will be closed on Friday, July 4th, reopening on Monday, July 7th. Access collegezone.com anytime, or send an
e-mail message to a School Services Representative for questions or inquiries.
A June 24, 2008 Dear Colleague Letter
(DCL GEN-08-10/FP-08-08) from the U.S. Department of Education (ED) provides a reminder regarding guidance that is available for helping Title IV participants affected by a disaster, and references previously-issued DCLs on the same topic (DCL GEN-04-04 and DCL GEN-05-17). The
June 24th reminder also lists contact information for colleges and lenders with questions not addressed in the DCLs.
Illinois National Guard (ING) Grant Program payment request rosters for the summer term are due back to ISAC on or before July 18, 2008. Although no summer term payment claims will be paid by ISAC, the completed rosters must be submitted by colleges so that eligibility units can be collected for applicants who were eligible for payment. This information is needed before ING Grant processing can begin for the 2008-09 academic year. Details regarding the ING Grant payment process are available within the ISAC Gift Assistance Programs area.
A State Legislative Update, dated June 16, 2008, contains the most recent status of bills which pertain to ISAC-administered programs and education in general.
A June 16th e-Message announces that the 2007-08 application for MAPnet will become available only for historical view on July 26, 2008 (this is a change from the date of August 1st that had previously been announced). The e-Message also provides reminders regarding the close-out process for 2007-08 ISAC-administered gift assistance programs.
Be sure to regularly visit the Important Dates and What's New section of the e-Library's 2008-09 FAFSA Completion area for a listing of the latest updates and electronic announcements from the U.S. Department of Education (ED). Updates are listed in chronological order by month, and the last date on which new information was posted is indicated at the top of the page.
More
List of ISAC's Participating Lenders
Dear Colleague Letter FP-08-02 (revised promissory note addenda and Plain Language Disclosures)
State & Federal Aid Estimator
FAFSA Completion Information
Important Reminders calendar
Most Recent ISAC Update:
June 2008
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