CHICAGO — The Illinois Student Assistance Commission (ISAC) announced that through May 27, it has received 31,435 eligible Monetary Award Program (MAP) grant applications since the agency began denying eligible applicants due to exhaustion of anticipated funds on Monday, April 19.
Of those denied the state's need-based college financial aid program thus far, more than 65 percent (20,601) selected a community college as their top choice on the 2010-11 Free Application for Federal Student Aid (FAFSA), which is the form used to apply for MAP and federal student aid. Just over 17 percent (5,351) selected a public four-year school and 10 percent (3,214) chose an in-state private college.
The agency projects the eligible applications received after the April 19th suspense date will far exceed the 120,000 eligible students denied MAP grants for the 2009-10 academic year. However, ISAC encourages students complete the FAFSA in order to qualify for federal grants and loans in addition to possible institutional financial aid.
The Commission provides further background information regarding the problem, research and resources, and weekly updates to MAP grant suspension activity at the following Web site, www.collegezone.com/mapcap.
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 post-secondary 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 FY2009 alone.
The Commission provides educational funding with student loans and via numerous programs such as the Monetary Award Program (MAP), the Illinois Veteran Grant and College Illinois!® 529 Prepaid Tuition Program. Students and families have free access to a wealth of financial aid and college planning information at ISAC’s family of Web sites available at www.KnowHow2GOIllinois.org.