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 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 
A State Legislative Update, which was last updated on March 16, contains the status of bills that pertain to programs administered by the Illinois Student Assistance Commission (ISAC) and higher education in general.
Be sure to stop by and visit ISAC staff during the 2010 ILASFAA Annual Conference (Making Connections: u r ILASFAA), which will take place March 24 through March 26 at the Crowne Plaza in Springfield. A tentative conference agenda is available at the ILASFAA Conference mini-site. We look forward to seeing you!
As follow-up to a March 4, 2010 e-Message that provides information regarding the Monetary Award Program (MAP) and the Silas Purnell Illinois Incentive for Access (IIA) Program for the 2010-11 academic year, a March 12 e-Message provides an IIA Program processing update that is based on the State of Illinois Fiscal Year 2011 proposed budget recently released by Governor Pat Quinn. ISAC is putting student records with an initial 2010-11 Free Application for Federal Student Aid (FAFSA) receipt date on or after March 12, 2010 in suspense for IIA.
A recent Dear Colleague Letter (DCL ANN-10-07) announces the availability of recorded demonstration sessions for Federal Student Aid’s Electronic Cohort Default Rate Appeals (eCDR Appeals) Release 3.0. As was indicated in a February 9 electronic announcement, colleges have the option of submitting and processing certain cohort default rate challenge and adjustment requests via this electronic application. A separate February 9 electronic announcement stated that fiscal year (FY) 2008 draft cohort default rates have been released to all eligible colleges.
In order to implement additional Common Origination and Disbursement (COD) System functionality, the U.S. Department of Education (ED) will suspend COD batch processing beginning at 12 a.m. (CT) on Friday, March 26, 2010. Records submitted after this time will be held and processed after 8 p.m. (CT) on Saturday, March 27, 2010. Various related ED Web sites will be temporarily unavailable on March 26 and March 27. Refer to a March 5 electronic announcement for specific details. You are encouraged to regularly visit the Information for Financial Aid Professionals (IFAP) Web site between now and March 26, because ED will post additional electronic announcements that provide operational implementation guidance related to the new COD System functionality.
Remind your students that if estimated income data was used when completing the 2010-11 Free Application for Federal Student Aid (FAFSA), they need to compare the income portion of the Student Aid Report (SAR) with information from completed 2009 tax returns, and make corrections as necessary.
A March 2, 2010 electronic announcement from the U.S. Department of Education (ED) provides an updated version of the September 15, 2008 listing of colleges that have been approved as "TEACH Grant Eligible Institutions."
April 1, 2010 is the 2009-10 Monetary Award Program (MAP) claim deadline for second semester/quarter. As was indicated in a February 1st e-Message, colleges are encouraged to submit 2009-10 MAP payment requests for applicants whose initial Free Application for Federal Student Aid (FAFSA) receipt dates were on or before June 4, 2009. ISAC will continue to monitor the volume of payment requests received, along with the level of available funding, in order to determine whether a second partial release of suspended MAP records can be scheduled. Further details regarding MAP payment procedures are provided in the ISAC Gift Assistance Programs area.
The 2009-10 College Savings Bond Bonus Incentive Grant (BIG) Program application is currently available to download and print. ISAC will continue to accept applications until funds have been depleted. Details regarding the application process are provided in a February 16th e-Message.
2009-10 ISAC Administrative Rules List of ISAC's Participating Lenders
Most Recent ISAC Update:
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