 "Given the current trends in eligible applications and the
assumption of level funding, we are looking at a suspense date
within a week," said ISAC Executive Director Andrew Davis. "The
state's funds available for MAP are limited, so students and
families ought to apply now at
www.fafsa.gov. By filling out the FAFSA, students automatically
apply for both state and federal aid."The agency projects
MAP-eligible students to number 409,000. Approximately 189,000 will
have applied before the suspension date and could claim a MAP grant.
ISAC estimates a record 220,000 eligible applications received after
the award suspension date will go unfunded. Of these, 142,000 are
community college students.
"Without some source of additional revenue for the program, we
are on track to, for the first time ever, deny more eligible
students than we will serve," Davis continued. "Given our current
funding model, the state's ability to fund the program is at its
lowest point at precisely the time when the demand for student
financial aid is at its highest."
Based on a 70 percent award claim rate, ISAC expects to make
137,000 awards during the upcoming academic year, down from an
estimated 140,000 in fiscal 2010 and 144,230 in fiscal 2009.
On March 26, the Illinois Student Assistance Commission gave
agency staff the authority to suspend award announcements based on
an appropriation level that is the same as the 2009-10 academic
year, as the governor's proposed fiscal 2011 budget proposes level
funding for ISAC to distribute through scholarships and grants,
shifting dollars to MAP and to the grant programs for dependents of
police, fire and correctional officers killed or disabled in the
line of duty.
[to top of second column] |
 As recently as the 2000-2001 academic year, ISAC offered awards
to each of the 197,889 eligible students, paying out 139,421 claims
with no award suspensions. The maximum MAP award was $4,740,
covering the mean tuition and fees at an in-state public university.
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
over 50 years. The commission continued its mission to make college
accessible and affordable for Illinois students by administering
over 183,000
grants and scholarships totaling over $430 million in fiscal
2009 alone.
The commission provides educational funding with student loans
and via numerous programs, such as the
Monetary Award Program, the
Illinois Veteran Grant and the
College Illinois! 529
Prepaid Tuition Program. Students and families have free access
to a wealth of financial aid and college planning information at
www.knowhow2goillinois.org.
[Text from
Illinois Student
Assistance Commission file received
from the
Illinois Office of
Communication and Information]
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