CHICAGO — The Illinois Student Assistance Commission (ISAC) announced that through July 1, it has received 54,686 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, 67 percent (36,638) 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 under 16 percent (8,689) selected a public four-year school and over 11 percent (6,080) chose an in-state private two-year, four-year, or hospital college. The remaining denied applicants chose proprietary schools.
“The good news is that the recent budget signed by Governor Pat Quinn will provide MAP grants for those eligible students that completed the FAFSA prior to April 19,” said ISAC Executive Director Andrew Davis. “Unfortunately, due to the state of the economy, more people are qualifying for aid, so we are on pace to set a record for denied MAP applications this year and will likely deny more students than we serve due to the unprecedented demand.”
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.