ISAC Update & Overview of the Monetary Award …...For the 2015-2016 and 2016-2017 academic years,...

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ISAC Update & Overview of the Monetary Award Program (MAP) August 26, 2015 Illinois Student Assistance Commission 1

Transcript of ISAC Update & Overview of the Monetary Award …...For the 2015-2016 and 2016-2017 academic years,...

Page 1: ISAC Update & Overview of the Monetary Award …...For the 2015-2016 and 2016-2017 academic years, ISAC must give additional consideration to the needs of dislocated workers The intent

ISAC Update & Overview of the Monetary

Award Program (MAP)

August 26, 2015

Illinois Student Assistance Commission

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2015-16 Administrative Rules

Amendments were made to seven Parts

General Provisions

Illinois National Guard (ING) Grant Program

Illinois Veteran Grant (IVG) Program

Monetary Award Program (MAP)

State Scholar Program

Minority Teachers of Illinois (MTI) Scholarship Program

Golden Apple Scholars of Illinois Program

Went into effect on July 1, 2015

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2015-16 Administrative Rules

Some amendments were of an administrative nature for purposes of clarity

The more substantive amendments included the following:

To incorporate the two recommendations of the MAP Advising Working Group

To designate the ING and IVG programs as the last payers for veterans with less than 100% Post-9/11 GI Bill eligibility

To provide additional and specific MAP consideration for the needs of dislocated workers

To delete language referencing the defunct Prairie State Achievement Exam (PSAE) as one of the acceptable assessment tests for State Scholar consideration

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2015-16 Administrative Rules

Clarifications made to the section of the rules that addresses Illinois residency requirements generated several questions from schools

In response, a Frequently Asked Questions (FAQ) document was prepared for your reference and posted to isac.org

The FAQ is available on the Partner Training page in the e-Library and on the Illinois Residency Requirements for MAP page in the FAA’s Gift Assistance Program area

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Recommendations of the MAP Advising Working Group

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www.isac.org/about-isac/commissioners/2014-agenda-books/agenda-book-april-22-2014.html

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Language Added to the 2015-16 Rules

Section 2700.30 General Institutional Eligibility Requirements

e) Postsecondary institutions that participate in MAP are required to have in place or establish a program, determined by the institution that is intended to improve MAP recipients' success, retention and completion in higher education at that institution. Institutions shall annually submit to ISAC retention, completion and graduation rate data as well as advising and support program information. This information is intended to enhance ISAC's ability to evaluate and improve MAP effectiveness.

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School “To Do List”

Annually gather advising and support

program information and submit it to ISAC

If a program is not already in place, establish one

that is designed to improve success, retention

and completion

Annually gather graduation and completion

rate data and submit it to ISAC

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Advising and Support Programs

Submitting information about programs

to ISAC

First time – September 2015

Will be done via GAP Access

Survey format planned

Will collect data such as:

Types of programs targeted at completion and retention

Number of students participating

Type of student interaction

Time spent in program activities

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Graduation and Completion Rate Data

Submitting data to ISAC

First time – Spring 2016 (FY15 data)

IPEDS data

Will be done via electronic file download

Excel spreadsheet

Flat file

Stand alone portal

ICCB will provide data for community colleges

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PROGRAM NEWS

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Monetary Award Program (MAP)

2015-16 Start-Up and Recompute Formula

Maximum award amount reduced by 5%

Annual maximum is $4,720 (subject to appropriation)

2015-16 MAP suspense dates

For all students who are not dislocated workers and whose initial FAFSA® was received by CPS on or after February 22, 2015, award announcements are suspended

For independent student applicants who are dislocated workers and whose initial 2015-16 FAFSA was received by CPS on or after August 16, 2015, award announcements are suspended

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Monetary Award Program (MAP)

Payment functionality became available in GAP Access on August 20

Claims submitted will be held until the MAP appropriation is final and the governor has signed the budget

Once the final FY2016 MAP appropriation is known, payment requests that have been queued will be processed

After launching the payment functionality, a few production issues were identified and the system was taken down temporarily to address the problem

The MAP system is now operating as expected

Should you encounter any problems or issues in the future, you should contact School Services for assistance

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MAP Pilot Program for Dislocated Workers (DW)

For the 2015-2016 and 2016-2017 academic years, ISAC must

give additional consideration to the needs of dislocated workers

The intent is to allow applicants who are dislocated workers an

opportunity to receive a Monetary Award Program (MAP) grant even

if applying later than the general pool of applicants

ISAC must estimate an amount needed to serve dislocated workers

who file FAFSAs through the summer months and reserve dollars to

serve those applicants

After stopping award announcements for the general pool of

applicants ISAC will continue to make awards only to dislocated

workers through the summer

The agency will subsequently analyze student data to try to

determine the success of those students who receive grants as a

result of this program

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Implementation of the DW Pilot Program

Independent students who answer “yes” to Question 102 on the

2015-16 FAFSA -- As of today, are you (or your spouse) a

dislocated worker? -- will be considered applicants who receive

“additional and specific consideration”

As a result, independent student applicants who are dislocated

workers (DW) will have a later suspense date than other MAP

applicants

For the purposes of MAP, a student who answers “yes” to FAFSA

Question 102 on any transaction is considered a dislocated worker

applicant for the entire academic year

Because the answer to FAFSA Question 102 could include the

spouse, schools will need to confirm that the student, not the

spouse, is the DW at the time of payment request

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GAP Access Modified to Identify

DW Students

On the “Student List Eligibility” screen, the DW fields are to the far right of

the initial view

• If the Student or Spouse DW field is “Y”, the student answered yes to FAFSA

Question 102 on one or more transactions in the academic year

• If the field is blank, they answered “no” or “I don’t know” to FAFSA Question

102 on their transactions for the academic year

Because DW applicants will

have a later suspend date

than other applicants, a

column for DW Suspend was

added along with the

Student or Spouse DW field

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Student List Eligibility: Filter Screen

The Filter, Sort and Columns screens include DW options

The Filter screen allows the user to select only those students

that are considered DW for MAP purposes by checking the

Student or

Spouse DW

checkbox

It will also allow

users to

select

DW Suspend

students

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Student Detail: Eligibility Screen

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The “Student Eligibility Detail screen also includes fields

that will indicate if a student is a DW for MAP purposes

“Y” if the applicant answered yes to the DW question on the

FAFSA for any transaction

“Blank” if no

If a student is a

DW and is in DW

Suspense,

the DW Suspend

field will be

populated with an “S”

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Student List Eligibility Screen

Two new icons have been added to assist users in

determining which DW students are in Suspense

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The enclosed yellow question mark -- -- indicates that a DW

student is in DW suspense, meaning that the student has missed

both the regular suspense date and the DW suspense date

The regular question mark -- -- identifies a DW student that has

missed the regular suspense date but has not missed the DW

suspense date

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MAP File Layout Specifications

The MAP 160-byte file layout specifications have been

updated for the 2015-16 processing cycle

• This file is pertinent to schools that utilize the file extraction

feature of the MAP system or for submitting payment requests

via File Transfer Protocol (FTP) Eligibility Status File (ESF) records are identified as Record Type 7

Payment requests, cancellations and results are identified as Record Types 4, 5 & 6

The MAP File

Specifications

are available in the

Electronic Tools

section of the

e-Library 23

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MAP File Layout Specifications

Three fields were added to the 160-byte file:

Field 43 DISLOCATED WORKER INDICATOR X(01);

previously FILLER X(01); field added to record types

2 and 7

Field 45 DISLOCATED WORKER SUSPENSE FLAG

X(01); previously FILLER X(02); field added to record

types 2 and 7

Field 46 DISLOCATED WORKER CONFIRM

STUDENT X(01); field added to record types

4,5 and 6

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Confirmation of Dislocated Work Status

Since the FAFSA dislocated worker data pertains to student or spouse, schools will need to confirm that the student, not the spouse, is the dislocated worker

If the student was awarded a MAP grant prior to the initial MAP suspension date for the general pool of applicants, it is not necessary to confirm that the student is the dislocated worker

To aid in the confirmation process, a Dislocated Worker Verification template was created by the ILASFAA Rules and Operations Advisory Committee

Schools are not required to use the form and do not need to provide documentation to ISAC

Schools will, however, need to confirm student eligibility as part of the payment request process

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Student Payment List: View Screen

The Dislocated Worker columns do not show in the default view of the payment list

The columns can be added to the list using the Columns option

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Scroll to the bottom of the list to find the dislocated worker column options

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Summary of IVG and ING Grant Changes for 2015-16

For veterans who are eligible for Post-9/11 GI Bill benefits at less than 100% and use those benefits with IVG or ING Grant programs in the same term, the Post-9/11 GI Bill benefits should be applied first (VA will be first payer), and any remaining eligible tuition and fee charges would be covered by IVG and/or ING Grant

The amount of IVG and ING Grant benefits used will be prorated based on the percentage of the charges that are covered by the ISAC programs

For IVG, the changes went into effect for the Summer 2015 term for claims submitted after July 1, 2015

For ING Grant, the changes will be in effect beginning with the Fall 2015 term

Online tools are being developed to help calculate usage

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Proration Methodology

In situations when the IVG or ING Grant is used with the Post-9/11 GI Bill and IVG or ING Grant can be considered “last payer”:

The percentage of charges to be covered by the IVG or ING Grant will be multiplied by the number of credit hours the student is taking and the result will be converted to eligibility units using the standard units chart found in the program rules

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Sample Scenarios Enrollment status of 12 credit hours for a semester and tuition & fees are $10,000

Post-9/11 GI Bill, 80% and IVG

Post-9/11 GI Bill, 60% and IVG

Post-9/11 GI Bill, 40% and IVG

With IVG as first payer: · Student would use 12 IVG units

and 4 months of Post-9/11 GI Bill benefits

With IVG as first payer: · Student would use 12 IVG units

and 4 months of Post-9/11 GI Bill benefits

With IVG as first payer: · Student would use 12 IVG units

and 4 months of Post-9/11 GI Bill benefits

With Post-9/11 GI Bill as first payer:

· $10,000 x .80 = $8,000 paid by Post-9/11 GI Bill

· $2,000 (20%) covered by IVG

· .20 x 12 credit hours = 2.4%

· 2.4 converts to 1 unit

· Student would use 1 IVG unit and 4 months of Post-9/11 GI Bill benefits

With Post-9/11 GI Bill as first payer:

· $10,000 x .60 = $6,000 paid by Post-9/11 GI Bill

· $4,000 (40%) covered by IVG

· .40 x 12 credit hours = 4.8%

· 4.8 converts to 3 units

· Student would use 3 IVG units and 4 months of Post-9/11 GI Bill benefits

With Post-9/11 GI Bill as first payer:

· $10,000 x .40 = $4,000 paid by Post-9/11 GI Bill

· $6,000 (60%) covered by IVG

· .60 x 12 credit hours = 7.2%

· 7.2 converts to 6 units

· Student would use 6 IVG units and 4 months of Post-9/11 GI Bill benefits

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Illinois Veteran Grant (IVG)

Online payment processing is available for the 2015-16 summer term

Summer term claims are due on or before September 15, 2015

My Zone portal is available daily from 7 a.m. through 7 p.m. (CT)

IVG File Specifications describing the file layout for FTP processing are available in the Electronic Tools section of the e-Library at isac.org

To activate participation in the IVG FTP process, or to schedule the transmission of an IVG FTP test file, colleges should contact School Services

Claims processing for the fall term will begin on September 16, 2015

Fall term claims are due on or before January 15, 2016

Claims processing for the spring term will begin on January 16, 2016

Spring term claims are due on or before May 25, 2016

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Drop down list includes percentage values, ranging from 40% to 90%

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Illinois National Guard (ING) Grant

2015-16 online application is available at isac.org

For full year consideration, deadline date is October 1

For Spring and Summer terms: March 1

For Summer only: June 15

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ING Grant System in GAP Access

Effective with the 2015-16 academic year, ING Grant processing will take place in ISAC’s Gift Assistance Program (GAP) Access portal

Processing was previously done in My Zone

When a student submits an ING Grant application to ISAC, a record is added to the school’s database in the ING system that can be viewed by the school on the ING Student List Eligibility View Screen.

Data will be added whenever there is a new or updated eligible record for the school

It is recommended that schools check GAP Access at least once a week for new data that may have been posted for the 2015-16 academic year

At this time, only student eligibility data is available in the ING Grant system

Access to payment data will be added later this fall

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Special Education Teacher Tuition Waiver (SETTW)

Award notifications were sent to 250 eligible applicants on May 14, 2015 for the 2015-16 academic year

SETTW awards are not subject to annual appropriations

Verification Rosters and Certification forms were mailed to colleges on June 24, 2015

Completed forms are due back to ISAC on or before September 30, 2015

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2015-16 Minority Teachers of Illinois (MTI) Scholarship

2015-16 MTI awards have not been announced to applicants

ISAC needs a final appropriation prior to award announcements to ensure that correct percentages are set aside for male recipients in accordance with program statute

2015-16 application is still available at isac.org

Once an application has been submitted to ISAC, certification must be completed by the school in My Zone

Schools should continue completing and submitting Initial Certifications to ensure that any new applicants can be considered for an award

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Golden Apple Scholars of Illinois

2015-16

Initial Certification can be completed online via My Zone

Payment processing is on hold, subject to a final appropriation

2016-17

The nomination period is open for 2016 Scholars

Closes January 8, 2016

Goldenapple.org for more information

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Grant Programs for Dependents of Police/Fire/Correctional Officers

Application deadline dates for this program are:

October 1 - Full Year Consideration

March 1 - Only 2nd Semester (2nd/3rd Quarter) and Summer Consideration

June 15 - Only Summer Term Consideration

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ISAC Training Events

Financial Aid 101 Workshops

September 16 at ISAC’s Springfield Office

September 23 at Northwestern College, Bridgeview Campus

Financial Aid 201 Workshops

September 17 at ISAC’s Springfield Office

September 24 at Northwestern College, Bridgeview Campus

Monthly Webinars

September 30 – ISAC’s Military Programs

October 28 – ISAC’s Teacher Programs and the Grant Programs for the Dependents of Police/Fire/Correctional Officers

November 18 – ISAC Operational Update

December 16 – 2016-17 FAFSA and Application Processing

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Mapping Your Future

Effective October 1, 2015, ISAC will no longer serve as a sponsor of Mapping Your Future and will no longer retrieve exit counseling data through ExitExpress

Illinois colleges seeking an alternative exit counseling reporting option for ISAC-guaranteed loans may consider becoming participating members of Mapping Your Future for an annual low-cost fee

Further details are provided in an August 7 e-Message

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Questions/Comments?

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Monetary Award Program (MAP) Grant

Need-based grant

ISAC’s largest program

One of the largest of its kind in the country

2014-15 (FY15) appropriation was $373 million

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Program Participants

Lists of the Illinois postsecondary schools approved to participate in each ISAC program are available for each academic year.

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MAP Cycle

For Financial Aid Administrators Start-up (January - February)

Based on budget proposal and expectations

Student eligibility data is made available

Recompute (June – July) Based on finalized budget

Prepare for payment request process

Payment and Reconciliation (August – June)

Year-End Close-Out (June – July)

For Students Academic Year

Fall and spring semesters

First, second and third quarters

No summer payment 50

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MAP Formula

Method used to distribute appropriated MAP funds

Several factors are used to determine eligibility and award amount: Financial need (EFC)

Cost of tuition and fees

Appropriations

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MAP Application Process

Students should apply as early as possible after January 1

Free Application for Federal Student Aid (FAFSA) is the application

Critical FAFSA data elements for MAP:

State of residence – student and parent

Grade level -- must be an undergraduate

Degree information -- can’t have a bachelor’s degree or be working on a master’s

School choice – must list at least one MAP-approved Illinois school

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MAP Suspense

Suspense occurs when projections indicate appropriation will be exhausted

ISAC’s Research, Planning and Policy Analysis (RPPA) Department continuously monitors the number of eligible applicants Once the first term payment claim deadline date has passed, the

suspense date is re-evaluated

2015-16 MAP applicants: For all students who are not dislocated workers and whose initial

FAFSA® was received by CPS on or after February 22, 2015, award announcements are suspended

For independent student applicants who are dislocated workers and whose initial 2015-16 FAFSA ® is received by CPS on or after August 16, 2015, award announcements are suspended

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MAP Suspense

For 2014-15, the initial suspense date was February 28, 2014

After the first term claim period was completed, applicants whose FAFSA

receipt dates were February 28, 2014 through and including March 5, 2014

were released from suspense

For 2013-14, the initial suspense date was March 2, 2013 After the first term claim period was completed, applicants whose FAFSA

receipt dates were March 2, 2013 through and including March 16, 2013 were released from suspended status

For 2012-13, the initial suspense date was March 20, 2012 Due to lower than expected claim rates, records were released from

suspended status for students whose FAFSA receipt dates were March 20, 2012 through and including April 2, 2012

For 2011-12, the initial suspense date was March 26, 2011

Lower than expected claim rates allowed for the release from suspension for those whose FAFSA receipts dates were March 26, 2011 through (and including) April 8, 2011

For 2010-11, the suspense date was April 19, 2010

For 2009-10, the suspense date was June 5, 2009 54

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Residency Requirements

For a dependent student:

The parent who is required to complete the FAFSA must physically reside in Illinois and Illinois must be his/her true, fixed and permanent home

For an independent student:

Must physically reside in Illinois

Must have resided in Illinois for 12 continuous full months prior to the start of the academic year for which assistance is requested

Illinois must be his/her true, fixed and permanent home

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MAP Benefits

Tuition & Mandatory Fees

Mandatory fees are those charged to each and every full-time student for each term

For community college students, benefits are limited to in-district tuition and mandatory fees

Remedial courses

Eligible for MAP as long as student has been accepted into an eligible degree or certificate program and is taking the course(s) as part of that program

Can receive benefits for one academic year (30 semester hours or 45 quarter hours)

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2015-16 MAP Benefits

Start-Up Formula reduced the maximum award by 5% for an effective maximum of $4720

Details can be found in the January 27, 2015 Agenda Book

www.isac.org -- About ISAC, Commission section

Recompute Formula is same as the Start-Up Formula

Details can be found in the June 19, 2015 Agenda Book

If determined necessary, after first-term claims are received, second- and third-term awards will be reduced to stay within the appropriation

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isac.org/about-isac/commissioners/2015-agenda-books/agenda-bk-jan-27-2015.html

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isac.org/isac-gift-assistance-programs/map/ map-formula/2015-16-map-formula/

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MAP Benefits

Student’s calculated eligible amount displays in the MAP system

Based on full-time enrollment of 15 credit hours

Actual payment amount is based on number of credit hours in which the student is enrolled

Maximum of 15 hours and minimum of 3 hours paid per term

Student receives 1/15 of their eligible award amount for each credit hour, using proration methodology

Multiply student’s maximum annual amount by a fraction:

Number of hours enrolled is the nominator

15 hours is the denominator

Example: $2,000 x 12/15 = $1,600 for a student enrolled in 12 credit hours

Divide award amount by the number of terms

Example: $1600/2 semesters = $800 per term

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MAP Benefits

MAP Paid Credit Hours (MPCH)

Method for tracking MAP usage

Equivalent to 4½ years of full-time enrollment

Can receive maximum of 135 MPCH

Eligibility can be extended for one term if student has less than 135 but not enough left for credit hours enrolled

Must reach junior level status to use more than 75 MPCH

Grade level determined by the institution

Eligibility can be extended for one term if student has less than 75 but not enough left for credit hours enrolled

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Awarding MAP

If students are also eligible for the following ISAC programs, these must be factored into the award package before MAP:

Illinois Veteran Grant (IVG) Program

Illinois National Guard (ING) Grant Program

Grant for Dependents of Police/Fire/Correctional Officers (PFC Grant)

Special Education Teacher Tuition Waiver (SETTW)

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Awarding MAP

For student veterans who are also eligible for Chapter 33 (Post-9/11 GI Bill) from the U.S. Dept. of Veteran Affairs, MAP must be applied to the financial aid package first

Chapter 33 can be used to cover any remaining tuition and mandatory fees not covered by MAP

Keep in mind that VA’s definition of mandatory fees is different than ISAC’s

Refer to the School Certifying Officials Handbook for more information

www.gibill.va.gov

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MAP and College Illinois!

College Illinois! also pays tuition and mandatory fees

Students eligible to use College Illinois! and MAP have the following options:

Use College Illinois! benefits at a later time

Designate a different beneficiary for the contract

Combine MAP and College Illinois! benefits up to the total of tuition and fees

Request a refund for the value of benefits not needed as a result of the MAP grant

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Student Notification: School Requirements

As part of the student notification process, schools are required to:

Announce MAP awards to the students enrolled at their institutions

Clearly identify the awards on the award notification as: State of IL MAP Grant (Est)

Include specific MAP award letter language on or with the school issued award letters

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isac.org/isac-gift-assistance-programs/ map/map-award-announcements/

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Student Notification: School Requirements

Schools are required to notify applicants of changes in their eligibility status

Reasons for changes in eligibility status include students who:

are not eligible due to a zero award

have an incomplete record

have a loan in default

are considered late applicants

have exceeded the intermediate maximum of 75 MAP Paid Credit Hours

Schools are also encouraged to provide students with a link to the MAP Rights & Responsibilities document

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Verification

Schools are expected to verify residency for recipients of any ISAC gift assistance programs for which Illinois residency is a requirement

If an applicant is selected for verification in conjunction with federal student assistance, that applicant should also be verified for ISAC-administered programs

A selected applicant must be verified for ISAC programs even if the applicant is ineligible for federal student assistance

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Verifying Residency

Any conflicting data must be resolved

Communicate with admissions/records office

In-state tuition charge does not automatically mean that a student is an Illinois resident and eligible for ISAC programs

When a school certifies a payment request, it is certifying that the student is an enrolled, eligible Illinois student meeting satisfactory academic progress

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Verifying Residency

Data in GAP Access may be sufficient to confirm residency, however, if the institution has any information that indicates the applicant may not be a resident of Illinois, further verification is needed

Because of the differences in residency requirements for dependent and independent status, residency should be verified for applicants who have changed dependency status to become an independent student

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Verifying Residency

As long as there is no conflicting information, additional steps to verify residency is not required for:

An applicant who received payment of a MAP award during the previous academic year

An applicant who was enrolled in an ISAC-approved MAP institution or an ISAC-approved Illinois high school for the preceding consecutive 12 months prior to the start of the academic year for which assistance is requested

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Verifying Residency

Examples of acceptable documentation for verifying Illinois residency (as listed in Administrative Rules) include:

State of Illinois tax return or federal tax transcript

Illinois high school or college transcript

Illinois driver's license

Utility or rent bills in the applicant's (or parent's) name

Illinois auto registration card

Residential lease in the applicant's (or parent's) name

Wage and tax statements (IRS Form W-2)

For an independent student, the dates recorded on the documents must indicate the applicant has resided in Illinois for the relevant 12 continuous, full months

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Administering MAP

Student eligibility and payment information is managed and processed via ISAC’s Gift Assistance Programs (GAP) portal, known as GAP Access GAP Access was introduced for the 2012-13 academic

year and will eventually be used to administer all ISAC Programs

It provides a secure authentication process for accessing student data and updated technology for managing student data

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Managing GAP Access

The financial aid director at each school is considered the Primary Administrator for GAP Access and is responsible for approving staff access at their institution

There are two additional levels of system users

School Administrators can add and update access for the school’s GAP Access users

School Users can have the ability to view and update program data depending on the access levels given to them by an administrator

Schools should have a process in place to remove non-active users on a frequent and regular basis

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GAP Access Security

A 2-step authentication is required to log in to GAP Access

Users will be asked to answer one of the three security questions provided at the time they signed up for access

If a user answers all 3 challenge questions incorrectly, the user’s access will be locked and their password will need to be reset

In order to reset the password, the user must contact a GAP Access Administrator at the school

ISAC will not be able to reset a password for users at a school

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Student List Eligibility: View Screen

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MAP Payment Processing

Payment requests are made via the GAP Access Portal

Schools may also send payment requests to ISAC via a File Transfer Protocol (FTP) process File specifications for FTP processing are available on the Electronic

Tools page in the e-Library

Payment is sent to the school on behalf of the student

Payment comes from the State Comptroller’s office

Schools must meet MAP payment claim deadline dates each term, which are typically set at the September Commission Meeting 1st semester/quarter is typically in early December

2nd semester/quarter is typically April 1

3rd quarter/2nd semester for institutions where the 2nd semester begins after Feb. 15th is usually June 1

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Select: • Payment -- to

request a payment • Hold – to prevent

the record from being submitted

• Cancel -- to cancel a previously requested award

• Delete – to remove the payment request before submitting

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Payment Results Summary/ Invoice Detail Reports

This is a compilation of four reports generated by ISAC following a school’s payment request. It includes: Payment Results Report

Payment Exception Report (if there were exceptions)

Payment Results Summary (by term)

Payment Results Summary (all terms)

This report should be printed or downloaded each time a payment request is submitted

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MAP Payment Process

Payment is made through an offset process

New payment requests are compared to outstanding amounts owed to ISAC as a result of cancellations and adjustments made, and payment is made accordingly.

Designed to accommodate the many changes in student eligibility that can occur during the awarding and disbursement of financial aid Includes decreases, increases, initial requests and full

refunds

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Payment Results Summary/Invoice Detail Report

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Payment Results Summary/Invoice Detail Report

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Maintaining Student Accounts

Schools must credit a student’s account within 30 days of receiving their MAP funds

Award payments made in the name of one student cannot be applied to another

A cancellation must be done on the ineligible student and a new request must be submitted

Schools must reconcile payments and make adjustments in the MAP system in GAP Access

Student adjustments or cancellations should be made in GAP Access on a regular, ongoing basis

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Reconciliation

Schools are encouraged to finalize reconciliation activities and report all cancellations as soon as possible

Payments must be reconciled on a student-by-student basis

Guidance is provided in the FAAs section of

isac.org

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Fiscal Year Reconciliation

Schools will receive a notice from ISAC at the end of the award year indicating refund amount due Schools should wait until receiving notification to send refund

checks to ISAC.

A completed Check Return Form should accompany any refund checks sent to ISAC along with documentation that clearly indicates the amount being returned for each student

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MAP Budget Reporting

Schools report tuition and mandatory fees to ISAC each year

MAP Budget Packet information is due by June 1 preceding each academic year

Information is used in the calculation of gift assistance benefits and for research purposes

Schools must also submit a copy of their tuition refund policy with the budget packet

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ISAC Contact Information

School Services Communication Center

Exclusively for school inquiries

Phone: 866.247.2172

Fax: 847.831.8549

E-mail: [email protected]

Kim Eck, Training Services

Phone: 217-785-7139

E-mail: [email protected]

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Questions/Comments?

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