$8 million in suspended MAP grants released to college students

[January 31, 2009]  CHICAGO -- The Illinois Student Assistance Commission is releasing approximately $8 million in suspended Monetary Award Program funds to approximately 6,200 eligible students whose 2008-09 Free Application for Federal Student Aid receipt dates were July 26-Aug. 1, 2008.

The records were released from suspension on Wednesday, allowing schools to submit claims to ISAC on behalf of those students.

"We are making every effort to make sure all appropriated monies are being used by those in need of financial support," said Andrew Davis, executive director of the Illinois Student Assistance Commission. "Our goal is to make sure as close to 100 percent of appropriations as possible go to benefit Illinois students."

All MAP grants for eligible students with initial FAFSA receipt dates on or after Aug. 2, 2008, remain in a suspended status. The increase in Illinois FAFSA filings for the 2008-09 academic year resulted in a suspension of awards on July 25, marking the earliest -ever suspension of MAP grant monies to incoming freshman and continuing students.

"The increase in Illinois' FAFSA filings can be attributed to the worsening state of the economy along with an unprecedented increase in our agency's outreach efforts," Davis continued. "Our message is and continues to be to fill out those FAFSAs and submit them as soon as possible."

The 2009-10 FAFSA has been available online at www.fafsa.ed.gov, at high school guidance offices, at financial aid offices and at ISAC outreach events since Jan. 1. A schedule of upcoming ISAC outreach events is available at http://www.collegezone.com/
informationzone/10_3383.htm.

The Illinois Student Assistance Commission provides students of all ages and backgrounds with the resources and support to obtain financial aid for higher education.

A state agency, ISAC has paved the path to postsecondary education with innovative programs for more than 50 years. Last year alone, ISAC continued its mission to make college affordable for Illinois students by issuing 185,000 grants and scholarships totaling more than $448 million.

The commission coordinates educational funding with student loans, as a loan guarantor and via numerous public programs, such as the successful Monetary Award Program, the Illinois Veteran Grant and College Illinois, the commission's groundbreaking 529 prepaid college tuition program.

Students and families have free access to a wealth of financial aid and college planning information at ISAC's family of online sites, available at www.knowhow2goIllinois.org.

[Text from Illinois Student Assistance Commission file received from the Illinois Office of Communication and Information]