This session will introduce you to the basics of financial aid, an introduction to key terms and concepts of financial aid and the Free Application for Federal Student Aid (FAFSA).
In addition, participants will be provided with tools and resources to reach out to students and families as they navigate through the process of finding ways to pay for college.
Whatās the latest news about MAP grants (including the MAP 2+2 pilot program), Pell grants, student loans, and funding for these programs? This session will provide an overview of the changes to state and federal financial aid programs for the 2012-13 school year, as well as provide updates on state and federal legislative, operational, and budgetary issues.
Student Loans and the Impact of Pell GrantsHigherEdUtah
Ā
Student Loans and the Impact of Pell Grants, given by Dave Feitz, Executive Director of the Utah Higher Education Assistance Authority, at the joint meeting of the Board of Regents and Institutional Boards of Trustees 07-30-2015 at Southern Utah University
Presented at the 2013 NPEA conference by: uAspire, Families United in Educational Leadership, Massachusetts Educational Financing Authority
http://www.educational-access.org/npea_conference_workshops_2013.php
Whatās the latest news about MAP grants (including the MAP 2+2 pilot program), Pell grants, student loans, and funding for these programs? This session will provide an overview of the changes to state and federal financial aid programs for the 2012-13 school year, as well as provide updates on state and federal legislative, operational, and budgetary issues.
Student Loans and the Impact of Pell GrantsHigherEdUtah
Ā
Student Loans and the Impact of Pell Grants, given by Dave Feitz, Executive Director of the Utah Higher Education Assistance Authority, at the joint meeting of the Board of Regents and Institutional Boards of Trustees 07-30-2015 at Southern Utah University
Presented at the 2013 NPEA conference by: uAspire, Families United in Educational Leadership, Massachusetts Educational Financing Authority
http://www.educational-access.org/npea_conference_workshops_2013.php
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cIcu institutions are not immune to the issues facing finance and facilities leaders across higher education, including: constrained capital and operating budgets; aging campus buildings; and growing backlogs. However, there are strategies that can allow institutions to survive and thrive despite these challenges.
In this exclusive hour-long webinar for cIcu institutions, Sightlines:
- Explores current national trends,
- Shows how our cIcu clients have been affected, and
- Discuss the proven strategies for success
Guidelines and application for the 2012 Jesse Bemley Scholarship. $20,000 in college scholarships for the high performing students at the 2012 national high school computer competition championship being held this year in Baltimore, MD
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Ā
Did you know there are three macro forces influencing P-20 education?
-Global Economic Competitiveness
-Cost of Education
-Consumer-Driven Education
Discover how individualized student learning can improve P-20 student success.
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Hobsons
Chief Academic Officer
@Todd_Bloom
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College Financial Aid 101. What kinds of grants can you get? What are the Different Loan Types? The Downside to Scholarships? A quick and dirty rundown of the basics to help you make the most of your college aid application
Community College Bachelor's Degree Programs Can Help Individuals Avoid Massi...Danny Singh, M.B.A., MSEd
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The Bachelor's degree programs at community colleges can help individuals pursue higher education without getting into extreme debt. Many state universities in America are becoming very expensive. Community colleges are legitimate because they are "regionally accredited." #highereducation #college
The State of Facilities at cIcu InstitutionsSightlines
Ā
cIcu institutions are not immune to the issues facing finance and facilities leaders across higher education, including: constrained capital and operating budgets; aging campus buildings; and growing backlogs. However, there are strategies that can allow institutions to survive and thrive despite these challenges.
In this exclusive hour-long webinar for cIcu institutions, Sightlines:
- Explores current national trends,
- Shows how our cIcu clients have been affected, and
- Discuss the proven strategies for success
Guidelines and application for the 2012 Jesse Bemley Scholarship. $20,000 in college scholarships for the high performing students at the 2012 national high school computer competition championship being held this year in Baltimore, MD
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Did you know there are three macro forces influencing P-20 education?
-Global Economic Competitiveness
-Cost of Education
-Consumer-Driven Education
Discover how individualized student learning can improve P-20 student success.
Todd Bloom
Hobsons
Chief Academic Officer
@Todd_Bloom
A PowerPoint presentation by Blythe Academy School Improvement Council, Greenville County Schools, South Carolina. The Blythe Academy SIC was given the Honorable Mention award for the Dick and Tunkey Riley Award for School Improvement Council Excellence.
College Financial Aid 101. What kinds of grants can you get? What are the Different Loan Types? The Downside to Scholarships? A quick and dirty rundown of the basics to help you make the most of your college aid application
Congressional Briefing, āLadders to Success: Center-Based Strategies for Moving Working Families into the Middle Classā (December 4, 2012), presented by United Way of the Bay Area, The Annie E. Casey Foundation, Local Initiatives Support Corporation (LISC), MDC and United Way Worldwide.
Powerpoint presentation presented by Ms. Lolita Wood-Hill of the Yeshiva College Office of Pre-Health Advisement, Mr. William Hill of the Lehman College Office of Financial Aid, and Ms. Josie Edwards & Ms. Marianela Cabral of the Yeshiva University Office of Student Finance, at the Second Annual College EDge Seminar and Fair Day, March 23, 2012.
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Ā
Eduventures Principal Analyst Cara Quackenbush discusses five signs that 2013 will be the year that higher education philanthropy finally recovers from the recession.
Have you ever wondered about what you will do after retirement? Is there life āover the rainbow,ā other than sleeping in and reading the morning paper over coffee? Hear from IACAC Alumni who have found new and meaningful activities after their professional careers and share your own ideas about new directions and connections.
As colleges and universities work to attract diverse students, engaging multicultural college students in recruitment and outreach efforts is a vital means of connecting with students of color. Highlighting DePaul Universityās Office of Community Outreachās Peer Guide program and the Office of Undergraduate Admissionās Student Ambassador and Intern program, attendees will learn how to recruit and effectively engage minority students in recruitment and outreach efforts geared towards reaching out to minority students. Attendees will also have the opportunity to interact with a panel of college students that actively participate in the Peer Guide program.
Just what are those regional representatives doing all day? And, how best does an in-office supervisor evaluate their performance? It seems most colleges and universities employing off-site representatives donāt utilize anything in the performance review process that specifically evaluates the work of a regional representative.This interactive session will offer some thoughts, some solutions and plenty of dialogue on the topic of evaluating the work of regional representatives.
This session will cover the latest information on the Illinois Dream Act, the Guide to Advising Undocumented Students, tuition rates, college application tips (i.e. SS# and affidavits), scholarships and other pertinent information pertaining to undocumented students in the state of Illinois.
Why does it seem like everyone knows more than you? Simple, theyāve been doing it longer. How do you know what it is you donāt know? How do you ask if you donāt know what to ask? Join us as we unravel essential areas of counseling the college-bound student.This session will include discussion of best practice and provide resources and tools to get it all done back at the office. High school counselors just entering the field will leave this session with the know-how to confidently and successfully guide high school students and families from college search through selection.
What is a mid-level manager? This presentation will assist admissions professionals in making the transition into the next part of their career as a mid-level manager. It will focus on skills to develop while leading from the middle, tools to create stronger partnerships with the team you supervise, and how to cross-campus collaborate successfully. Additionally, we will discuss how to role model as a supervisor while still learning all the hats you are expected to wear.
Navigating the NCAA Eligibility Center can be a difficult process for any prospective student- athlete.The majority of high school student-athletes are unaware of the minimum core course requirements to participate in competition beyond their senior year of high school. This session will decipher registering with the NCAA Eligibility Center, determining core- course requirements and calculating core-course GPAās.This session will also provide tools to high school counselors and admission representatives to assist prospective student- athletes in navigating the NCAA Eligibility Center.
Come learn how we have tweaked our college counseling programs from registering students on Naviance as sophomores, training them as juniors, going through the application process as seniors, submitting transcripts electronically, and training teachers on submitting letters of recommendation electronically.We plan to spend half of our time discussing programming prior to senior year and the other half discussing eDocs/electronic submission. A program timeline, Naviance training documents for students AND teachers, and application forms will be provided.
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1. Financial
Aid Certification
The
Nuts and Bolts
of Financial Aid
Training for Counselors and Mentors
2. The Nuts and Bolts of Financial Aid
OBJECTIVES
By the end of this session, participants will be able to:
ā¢ introduce students to financial aid terms and concepts;
ā¢ outline the process of (1) establishing eligibility for state and federal aid programs; (2)
packaging of awards; (3) disbursing aid; and (4) handling student enrollment withdrawals; and
ā¢ identify trusted sources of information.
ACTIVITIES
Illinois Trends Terms and The Financial
Resources
in College Cost Concepts Aid Process
2
3. Anticipate Questions
There are lots of things to ā¢ How much will it cost?
think about and many
questions to ask. ā¢ Can I afford college?
ā¢ What is financial aid?
ā¢ What is the FAFSA?
ā¢ When and how do I apply?
ā¢ Where can I get help?
Know the answersā¦
5. Tuition and Fees in Illinois
Four-Year Public Colleges and Universities
Academic Average Annual
Year Tuition and Increase
Fees
2009-2010 $10,442 10.5%
2008-2009 $9,452 10.5%
2007-2008 $8,553 8.6%
2006-2007 $7,875 10.1%
2005-2006 $7,151 8.9%
2004-2005 $6,565 13.5%
2003-2004 $5,785 9.2%
2002-2003 $5,298 10.7%
2001-2002 $4,786 8.6%
2000-2001 $4,406 5.9%
Average Annual Increase
Past 10 years 9.7%
Past 20 years 7.8%
Source: Illinois Student Assistance Commission. College Illinois! (2010). 5
6. Affordability
The share of family income, even after financial aid, needed to pay
for college has risen substantially.
In Illinois, todayās
newborn will pay
close to $180,000
to attend a state
school.*
Refer to the āCollege Cost
Calculatorā on
www.collegeillinois.org.
Illinois
U.S.
Best Performing States
Source: Measuring Up 2008. The National Report Card on Higher Education. The National Center for Public Policy and Higher Education.
6
* http://www.529prepaidtuition.org/documents/pdf/2010-2011Enrollment_kit_Final.pdf
7. Education and Unemployment
Unemployment Rate, Age 25+, December 2010
15.0%
National
Average
9.4%
10.0%
5.0%
0.0%
Less than a high High school Some College, Associate's Bachelor 's
school diploma gr aduates No Degr ee Degr ee Degr ee and
Higher
Note: Data are averages for persons 25 and over.
Source: Bureau of Labor Statistics, Current Population Survey (December 2010)
7
8. Education Pays
Median Weekly Earnings, Age 25+, December 2010
$1,400
National
$1,050 Average
$788
$700
$350
$-
Less than a high High school Some College or Bachelor 's Advanced
school diploma gr aduates* Associate's Degr ee Degr ee
Degr ee
Note: Data are averages for persons 25 and over.
Source: Bureau of Labor Statistics, Current Population Survey (December 2010)
8
10. Know the Options
A number of options are available to families who are
concerned about their ability to meet the family share of
college costs.
Financial Aid Programs
529 Savings & Prepaid Tuition Programs
Employer Tuition Benefits
Tuition Payment Plans
10 Know the optionsā¦
12. Types of Financial Aid
There are many types of financial aid, including:
Grants
gift aid
Scholarships
self-help Work-Study
aid
Loans
Grants are typically based on financial need while scholarships are generally rewards for grades, athletics, a
unique skill or even an specific career interest. Work-study allows students to earn money through a campus-
based employment program. Loans can be subsidized or unsubsidized but must be repaid after graduation or
dropping below half-time enrollment status.
12
13. Sources of Financial Aid
Financial aid comes from a variety of sources.
federal state
government government
outside/
college
private
(institutional aid)
sources
The federal government is the largest source of financial aid for students, with colleges and universities providing
the second largest source of financial aid for students.
13
14. State and Federal Sources
Illinois Student U.S. Department of
Assistance Commission Education
(ISAC) (ED)
ā¢ www.collegeillinois.org ā¢ www.FederalStudentAid.ed.gov
ā¢ The agency in the State of Illinois that ā¢ The federal agency that provides the
administers state and federal grant, largest amount of college funding in
scholarship and prepaid tuition the form of grant, scholarship, work-
programs. study and educational loan programs.
14
15. Financial Aid Funding
Entitlement Appropriation Waiver
Program ā¢ Public funds set aside ā¢ Gift assistance that in
for a specific program. most cases is awarded
ā¢ Program which is based on a studentās
ā¢ Ex. MAP Grant
funded sufficiently to field of study and/or
ensure that all eligible employment status.
applicants will receive
awards. ā¢ Ex. Illinois Special
ā¢ Ex. Illinois Veterans Education Teacher
Grant Tuition Waiver
15
16. Illinois Student Assistance Commission
Grant and Scholarship Programs
Program Acronym Type of Aid 2011-2012 Benefit
Monetary Award Program MAP Grant; Need-based; Appropriation up to $4,720
Silas Purnell Illinois Incentive for Access IIA Grant; Need-based; Appropriation $500 (Freshman only, not
funded)
Illinois Veteran Grant IVG Grant; Entitlement maximum 12 units per term,
up to 120 units cumulative
Illinois National Guard Grant ING Grant; Entitlement maximum 12 units per term,
up to 120 units cumulative
Grants for Dependents of Police, Fire & Grant; Appropriation up to 8 semesters or
Correctional Officers 12 quarters
Bonus Incentive Grant (BIG) Program BIG Grant; Appropriation $40 to $440
Illinois State Scholars Program ISSP Certificate of Achievement N/A
Merit Recognition Scholarship MRS Grant; Merit-Based; Appropriation $1,000 (Not funded)
Teacher Programs
Program Acronym Type of Aid 2011-2012 Benefit
Illinois Future Teacher Corps Program IFTC Scholarship; Appropriation up to $5,000 or $10,000
Minority Teachers of Illinois Scholarship MTI Scholarship; Appropriation up to $5,000
Illinois Special Education Teacher Tuition SETTW Waiver up to 4 calendar years
Waiver
16
17. U. S. Department of Education
Federal Grant Programs
Program Acronym Type of Aid 2011-2012 Benefit
Federal Pell Grant Grant; Need-based up to $5,550
Iraq and Afghanistan Service Grant Grant maximum is same as Pell
maximum; payment adjusted for
less-than-full time study
Federal TEACH Grant Program TEACH Grant up to $4,000 per year
Campus-Based Programs
Program Acronym Type of Aid 2011-2012 Benefit
Federal Supplemental Education FSEOG Grant $100-$4,000
Opportunity Grant Exceptional Need
Federal Work-Study FWS Need-based Employment no annual minimum or maximum
amounts; at least minimum wage
Perkins Loans Need-based Loan up to $5,500 for undergraduate;
up to $8,000 for graduate
17
18. The Big Three
Maximum Award Amounts for 2011-2012*
State of Illinois Monetary
Up to
$4,720
Award Program (MAP)
Up to
$5,550 Federal Pell Grant
Up to Federal Supplemental
$4,000 Education Opportunity
Total = $14,270 Grant (FSEOG)
* NOTE: 2011-2012 amounts best estimate as of printing.
18
19. Loan Programs
When evaluating loan options, consider the following:
Repayment
Interest
Source Subsidized Options
Rate
of vs. &
+
Loan Unsubsidized Grace
Fees
Period
Start by knowing a studentās rights and responsibilities.
19
20. Subsidized vs. Unsubsidized
The big difference between the two is when interest begins to
accrue.
Type Need or Interest
No Need
Subsidized Stafford Loan A need-based loan Interest is paid by the federal
government while a student is in
school at least Ā½ time, during grace
period, and during authorized periods
of deferment
Unsubsidized Stafford Loan NOT a need-based A student is always responsible for
loan paying interest
20
21. U. S. Department of Education
Federal Loan Programs, 2011-2012
Type Rate Grace
Perkins Subsidized 5% 9
fixed months
Stafford Subsidized 3.4% 6
fixed months
Unsubsidized 6.8% 6
fixed months
PLUS Credit-based 7.9% Within first
Graduate PLUS fixed 60 days
Note: Stafford Loans (both subsidized and unsubsidized) for Graduate students have a
fixed interest rate of 6.8% through 2013.
21
22. Direct Stafford Loan Programs
Limits for 2011-12
Year DEPENDENT INDEPENDENT
Undergraduate Students Undergraduate Students
(and DEPENDENT whose
parents are unable to obtain
a PLUS Loan)
1st Year $5,500 $9,500
Max. $3,500 subsidized Max. $3,500 subsidized
2nd Year $6,500 $10,500 subsidized
Max. $4,500 subsidized Max. $4,500 subsidized
3rd Year $7,500 $12,500
Max. $5,500 subsidized Max. $5,500 subsidized
4th Year $7,500 $12,500
Max. $5,500 subsidized Max. $5,500 subsidized
Aggregate Loan Limits $31,000 $57,500
(max. $23,000 subsidized) (max. $23,000 subsidized)
Federal Student Aid, (2011) āDirect Stafford Loansā
http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp
23. Federal Perkins Loan
Limits for 2011-12
Year Undergraduate Graduate
1st Year $5,500 $8,000
2nd Year $5,500 $8,000
3rd Year $5,500 $8,000
4th Year $5,500 $8,000
Aggregate Loan Limits $27,500 $60,000
(this aggregate limit
includes undergraduate
Perkins loans)
About Perkins Loans
ā¢ Not all colleges participate in the Perkins Loan Program, as of May 6, 2010 only 1,624
schools had fund resources
ā¢ The amount that can be borrowed may be less than the federal maximum
24. How to Apply
To be considered for student aid, a student must complete all
forms required by a college.
Free Application Institutional Other
for Federal Forms
Student Aid
(FAFSA)
Note: Communicate with each college to inquire about steps to a complete
application.
24
25. Free Application for Federal Student Aid
What is a FAFSA?
It is the first step in the financial aid process. A FAFSA is used to apply for Illinois scholarships and
grants and for federal student financial aid such as grants, loans and work-study (e.g. Pell Grant,
MAP Grant). In addition, postsecondary schools use it to award non-federal financial aid. The
application is available to students at no fee.
Three Ways to Access a FAFSA
Paper FAFSA FAFSA on the Web .pdf FAFSA
1-800-4-FED-AID www.FAFSA.gov www.FAFSA.gov
26. Personal Identification Number
A PIN, along with other identifiers, gives students Internet
access to their information on the Federal Student Aid systems.
ā¢ Serves as an electronic signature and PIN Checklist
provides access to personal records
oSocial Security Number
ā¢ Go to www.pin.ed.gov oLast Name
Option 1: Create a four-digit PIN oFirst Name
Option 2: Have the site create a PIN oMiddle Initial
ā¢ PIN is conditional until relevant information oDate of Birth
is verified with the Social Security oStreet Address
Administration (1-3 days) oe-Mail address (optional)
ā¢ PIN will not expire at the end of the year
26
27. When to Apply
Important Dates, 2012-2013
FAFSA ā¢ January 1, 2012 (First date to submit FAFSA)
College ā¢ Dates vary by college (Check with each college)
MAP ā¢ As soon as possible after January 1, 2012. Awards made
Grant until funds are depleted.*
Federal
ā¢ June 30, 2013 (at the end of the academic year)
Pell Grant
* Note: Suspension dates are subject to the number of eligible
applicants and funding made available by the Illinois General
Assembly and approved by the Governor
28. General Eligibility Requirements
Who can get federal and state student aid?
Eligibility for most federal and state aid programs is based on financial need
rather than academic achievement.
In addition to a completed FAFSA, a student must:
have a high school diploma or its equivalent
enroll as a regular student in an eligible degree or certificate program
have a valid Social Security Number
make satisfactory academic progress
register for selective service, if male 18-25 years old
sign certifying statements on the FAFSA
28
29. Dependency Status
Whose information is required on a FAFSA?
For financial aid purposes, questions on the FAFSA will determine the status
of the student.
Status based on FAFSA Report income and assets
Dependent Parents
Student
Independent Student
Spouse
29
30. Output Documents
The SAR and ISIR
After FAFSA processing is complete,
a students will receive an output
document or record that shows:
SAR ISIR ā¢ information originally provided by a
student;
Student Aid Institutional
Report Student ā¢ the Expected Family Contribution;
Information ā¢ results of the eligibility matches; and
Record
ā¢ information about inconsistencies
Notes:
ā¢ The body of the SAR has been reduced to enable students to determine the status of their
FAFSA, their eligibility for a Federal Pell Grant and the next steps in the application process
ā¢ Students who submit a Spanish FAFSA or a correction in Spanish will receive all
communication in Spanish
30
31. Expected Family Contribution
A need analysis formula established by
Congress determines a studentās Expected
EFC Family Contribution; using information
Expected Family Contribution
reported on the FAFSA.
What? Why? Where?
A comparative Used to determine a Shown on the Student
measure of how much studentās eligibility for Aid Report (SAR)
a family can be most federal and state
expected to contribute assistance
over the course of an
academic year
31
32. What are the costs?
Each college determines the Cost of Attendance at their institution. Some academic
majors/programs may have a different Cost of Attendance at the same university.
Tuition & Fees
Room & Board
Transportation
Books & Supplies
Miscellaneous Living Expenses
+
Cost of Attendance (COA)
32
33. Financial Need
Expected
Cost of
Family Financial
Attendance
- Contribution = Need
(COA)
(EFC)
33
34. To Determine Financial Need
Examples
Financial
COA EFC Need
College
- =
A
College
$10,000 $3,000 $7,000
- =
B $20,000 $3,000 $17,000
College
- =
C $35,000
34
$3,000 $32,000
35. Financial Aid Awards
The financial aid administrator at the college will package all
available aid and send an award offer for consideration.
ā¢ What is the total cost of ā¢ What is the Expected Family
attendance? Contribution?
ā¢ What is a studentās financial ā¢ What types of financial aid
aid eligibility? are included?
ā¢ What is the out-of-pocket
ā¢ Was financial need met?
cost?
Goal: To meet a studentās need.
ā¢ New information creates changes.
ā¢ When packaging need based-aid, students must have need and all
sources of aid must be considered.
ā¢ The total of all sources of aid may not exceed cost of attendance (COA).
36. Other things to know about applying for financial aid:
ā¢ Apply early!
ā¢ Information reported on a FAFSA is confidential and is used
ONLY to determine financial aid eligibility.
ā¢ A student may be asked to submit documentation to the
financial aid office for verification purposes.
ā¢ Supplemental applications or forms may be required.
ā¢ Keep track of application DEADLINES!
ā¢ It helps to keep a record of everything that is submitted.
ā¢ A student must reapply every year.
36
37. Disbursement
A student needs ļ°Accept the awards
to meet the
following ļ° Submit all paperwork and information
requirements in required
order for an ļ° Enroll in classes and meet Satisfactory Academic
award to be Progress (SAP) standards
disbursed: ļ° Complete pre-loan counseling (entrance
counseling) if the student is a new loan borrower
ļ° Pay past due charges on a student account
ļ° Make arrangements to clear holds set on a student
account
ļ° The method and time of disbursement varies depending
on the type of financial aid
37
38. Withdrawals
A process and consequences apply when a student ceases to be
enrolled through the end of a period of enrollment.
Types: Official Unofficial Leave of
Withdrawal Withdrawal Absence
Common Consequences:
Charges remain the same but financial aid is greatly reduced or eliminated
Asked to pay back money received in a financial aid payment
Not eligible to receive aid payment because of too many withdrawals in past
Pay school expenses out-of-pocket
38
40. Guiding Principles
Financial aid funds are available to make it possible for
students to continue their education beyond high school.
ā¢ Students and parents have the primary responsibility of funding educational costs.
ā¢ Financial aid is available only to assist in filling the gap between a familyās contribution and a
studentās yearly academic expenses.
ā¢ Eligibility is based on multiple factors.
ā¢ Schools are required to meet certain standards and have written agreements with the U.S.
Department of Education and ISAC in order to offer student aid programs. Federal financial aid
can be used at approved colleges, universities, trade schools and technical schools.
ā¢ The school, as a whole, is responsible for proper administration of financial aid programs.
40
41. The Process
From a financial aid administratorās point of viewā¦
Step 1:
Determine Step 2:
Student Package Aid
Eligibility
Step 4:
Deal with Step 3:
Student Disburse Aid
Departures and
Withdrawals
41
42. Determine Student Eligibility
Step 1
Central
Processing
If necessary
System School
school
(CPS) reviews If student is
corrects
processes ISIR; selected,
Complete ISIR data
FAFSA data, determines the school
FAFSA and sends it
calculates studentās performs
to CPS for
EFC, and eligibility verification
an accurate
creates an and need
ISIR
ISIR and
SAR
42
43. Packaging
Step 2
If new information
If appropriate,
about a student
school exercises
becomes available
School packages professional
which results in an
and awards aid judgment and
overaward,
student is
repackaging may be
repackaged
necessary
43
44. Disburse Aid
Step 3
If a student Steps 1-3 are
A school credits a
received an repeated each
studentās account
overpayment, a award year until a
with financial aid
school adjusts a student graduates
funds
studentās aid or withdraws
44
45. Student Departures
Step 4
Prorate the Must
earned and determine a
Determine the Comply with
unearned studentās
date a student refund policies
portions of aid eligibility for a
ceased and
based on time post-
attendance procedures
spent in withdrawal
attendance disbursement
45
46. Get your hands on up-to-date, accurate and trusted sources of
information to learn what you need to know.
RESOURCES
46
48. Manuals & Handbooks
Handbook of Illinois Postsecondary Institutions
Up-to-date financial aid and admission information for institutions
approved to participate in ISAC's scholarship and grant programs.
Source: www.collegeillinois.org
FAFSA Expert Guide
A compilations of all documents that are referenced in the FAFSA,
including IRS tax forms, a description of the McKinney-Vento Act, and
the EFC formula. Source: Only distributed at ISACās Financial Aid
Certification Trainings.
Counselors and Mentors Handbook on Federal Student Aid
A guide for those advising students about financial aid for
postsecondary education. Source: www.FSAPubs.org
State Universities in Illinois - At a Glance
A summary of minimum high school course requirements for admission
of freshman to Illinois public universities. Source: www.IACAC.org
12 Reasons to Stay in Illinois
An admissions guide for counselors on state universities in Illinois.
Source: www.IACAC.org
48
49. Stay Connected
ISACās e-Messaging Service
ā¢ Notifies you when new
information and/or
announcements are added to
College Illinois
ā¢ Summaries of new information,
along with links, will be sent to
your e-mail
Get Printed Materials
ā¢ ISAC Printed Materials ā www.collegeillinois.org
ā¢ FSA Publications Ordering System (FSAPubs) ā www.FSAPubs.org
49
50. Making college accessible and affordable for Illinois students.
- ISACās Mission Statement
Deerfield
1755 Lake Cook Road ISAC's Big Goal:
Deerfield, IL 60015-5209
Springfield
Increase the proportion of Illinois
500 W. Monroe, 3rd Floor
Springfield, IL 62701-1876
adults with a postsecondary
Chicago credential to 60 percent by 2025
James R. Thompson Center
100 W. Randolph, Suite 3-200
Chicago, IL 60601-3219
800.899.ISAC (4722)
www.collegeillinois.org .................................................. College Illinois
The official Web site of the Illinois Student Assistance Commission (ISAC)