Using FM Simulation for the 2023-2024 and 2022-2023 Aid Years

You can simulate different Federal Methodology (FM) need analysis scenarios before submitting ISIR Corrections. The FM Simulation process retrieves information from the ISIR Correction pages and Federal Extension page. You can create or change existing federal extension data or global policy option data in simulation depending on your processing requirements.

This section provides an overview of the steps for the simulation process and discusses how to:

  • Work with student income and assets.

  • Override global policy options at the student level.

  • Work with student information.

  • Work with parent income and assets.

  • Work with parent information.

  • Work with assumption overrides.

Note: For the 2023-2024 and prior Aid Years, the result of both the Federal Methodology (FM) and Institutional Methodology (IM) calculations for the amount of money that a student and his family are expected to contribute is referred to as Expected Family Contribution (EFC); FM EFC and IM EFC.

For the 2024-2025 and future Aid Years, FM calculation result is referred to as the Student Aid Index (SAI); replacing the FM EFC.

Use the FM Simulation process to select records with an ISIR to simulate SAI/EFC calculations. Then commit changes to ISIR tables when complete.

  1. Click the Get Federal Data button on the page you are using to populate the FM Simulation tables with the latest ISIR information. This is important because data from a prior session might remain in the table.

  2. Modify fields to affect the SAI/EFC calculation, invoke overrides, or both.

    You can also override global policy options at the student level, by clicking the Fed Ext button from any page in this component. Unless an extension record already exists in ISIR, the default values that you defined in the Local Global Options page display on the Federal Extension page when you select a Rule Set.

  3. When you complete your changes, click the Calc NAC (calculate need analysis calculation) button. The system displays the results of the SAI/EFC after a successful completion of FM Simulation.

  4. Repeat steps 2 and 3 as needed. To refresh the worksheet, repeat Step 1.

  5. Click the Use Simulated Data button to use the calculated data for need analysis.

    If you confirm that you want to perform the operation, the system inserts a new row in all of the ISIR Tables and any field that was changed is processed as follows:

    1. Sent to the Audit Table for history.

    2. Included in the ISIR Correction process.

    3. Used to recalculate need.

Note: You cannot apply changes to any student whose ISIR is rejected.

Note: The navigation paths for the pages listed in the following page introduction table are for aid year 20nn-20nn. Oracle supports access for three active aid years.

Page Name

Definition Name

Navigation

Usage

Student Income/Assets

INAS_SIM_STU1_nn

Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Student Income/Assets

View or update fields from ISIR Corrections to perform an SAI/EFC calculation with the FM NAC.

Simulation Federal Extension

INAS_SIM_FEDEX_Snn

Click the Federal Extension link on the Student Income/Assets page.

Override the global policy options at the student level.

Simulation Budget Durations

INAS_SIMEX_DUR_SEC

Click the Budget Durations link on the Simulation Federal Extension page.

Override global policy options for federal academic and non-standard budget duration.

Note: This feature is only applicable to the 2023-2024 and prior Aid Years.

Simulation EFC Proration Options

INAS_SIMEX_PRO_SEC

Click the EFC Proration Options link on the Simulation Federal Extension page.

Override proration options for academic and non-standard months.

Note: This feature is only applicable to the 2023-2024 and prior Aid Years.

Simulation EFC Override

INAS_SIMEX_EFC_SEC

Click the EFC Override link on the Simulation Federal Extension page.

Override SAI/EFC components for academic and non-standard award periods.

Student Information

INAS_SIM_STU2_nn

Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Student Information

View or update fields from ISIR Corrections to perform an SAI/EFC calculation with the FM NAC.

Parent Income/Assets

INAS_SIM_PAR1_nn

Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Parent Income/Assets

View or update fields from ISIR Corrections to perform an SAI/EFC calculation with the FM NAC.

Parent Information

INAS_SIM_PAR2_nn

Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Parent Information

View or update fields from ISIR Corrections to perform an SAI/EFC calculation with the FM NAC.

Overrides

INAS_SIM_OVRD_nn

Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Overrides

View or update fields from ISIR Corrections to perform an SAI/EFC calculation with the FM.

Set Dependency Override and Correction Status.

The following elements appear on the Student/Income Assets page, Student Information page, Parent Income/Assets page and Overrides page.

Field or Control

Description

Get Federal Data

Click this button to copy the student's latest ISIR data from the Federal Extension record to this page.

Calc NAC (calculate need analysis calculation)

Click this button to invoke a Remote Function Call of the FM NAC.

Use Simulated Data

Click this button to move the simulated data into production.

Federal Extension

Click this link to access the Simulation Federal Extension page and make changes to an existing extension or override the Global Policy Options at the student level.

Need Summary

Click this link to view a student's need summary. Need summary information reflects only current values. New data that you have calculated is not reflected on Need Summary pages until you click the Use Simulated Data button.

Monthly EFC

Click this link to access the Simulation Monthly EFC page to view the FM calculated monthly EFC for months 1-8 and 10-12.

Note: This feature is only applicable to the 2023-2024 and prior Aid Years.

Formula Type

Displays the formula type used in the FM NAC calculation. When you click the Get Federal Data button, the system populates the ISIR formula type on record and updates the formula type when the FM NAC is called.

Primary SAI/EFC:

Displays the 9-month SAI/EFC. When you click the Get Fed Data button, the system populates the ISIR Primary SAI/EFC on record and updates the Primary SAI/EFC when the FM NAC is called.

Prorated SAI/EFC:

For the 2024-2025 and future Aid Years, displays the 9-month SAI.

For the 2023-2024 and prior Aid Years, displays the 9-month or other than 9-month EFC. When you click the Get Fed Data button, the system populates the ISIR Prorated EFC on record and updates the Prorated EFC when the FM NAC is called.

Access the Student Income/Assets page (Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Student Income/Assets).

ISIR edits are not used in the simulation pages. Changes used should not conflict with data in ISIR corrections.

Access the Simulation Federal Extension page (click the Federal Extension link on the Student Income/Assets page).

Field or Control

Description

Budget Durations

Click this link to access the Simulation Budget Durations page. You can enter any value for FM budget duration. Federal rules allow whole numbers only for budget duration. If the total allocation for the budget duration is greater than 12 months, a 9–month EFC is calculated and used in the academic award period, and no EFC is calculated for the non-standard award period.

Note: This feature is only applicable to the 2023-2024 and prior Aid Years.

EFC Proration Options

Click this link to access the Simulation EFC Proration Options page to determine how to prorate EFC.

Note: This feature is only applicable to the 2023-2024 and prior Aid Years.

Override Federal SAI/EFC

Click this link to access the Simulate Federal SAI/EFC Overrides page to override the academic or non-standard parent contribution or student contribution.

Access the Student Information page (Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Student Information).

Field or Control

Description

Grade Level

Select from:

1st yr Attended Before

1st yr Grad/Prof

1st yr Never Attended

2nd yr Sophomore

3rd yr Junior

4th yr Senior

5th yr other UG

Continuing Grad/Prof

Field Name Abbreviations and Explanations

SNAP (Supplemental Nutrition Assistance Program)

School Lunch (free or reduced price lunch)

Medicaid/SSI (Supplemental Security Income)

TANF (Temporary Assistance for Needy Families)

WIC (Women, Infants and Children)

Work Study

Unaccompanied Youth (School)

Unaccompanied Youth (HUD) (Unaccompanied Youth – Housing and Urban Development)

Access the Parent Income/Assets page (Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Parent Income/Assets).

Access the Parent Information page (Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Parent Information).

Field Name Abbreviations and Explanations

SNAP (Supplemental Nutrition Assistance Program)

School Lunch (free or reduced price lunch)

Medicaid/SSI (Supplemental Security Income)

TANF (Temporary Assistance for Needy Families)

WIC (Women, Infants and Children)

Dislocated Worker

Access the Overrides page (Financial Aid > Federal Application Data > Simulate 20nn-20nn FM > Overrides).

STATUS OVERRIDES

Field or Control

Description

Dependency Override:

Values include:

1: Dependent to Independent. You can select this value.

2: Cancel Dep Override – Corr Only. You can select this value.

3: Override Failed. The correction process sets this value.

4: Homeless Youth Determination

Correction Status:

Values include:

1: Correction(s) Pending. You can select this value.

2: Send Correction(s). You can select this value.

3: Correction(s) Sent. The correction process sets this value.

4: Correction(s) Accepted. The correction process sets this value.

5: Corrections Rejected. The correction process sets this value.

6: Do Not Send Correction(s). You can select this value.

ASSUMPTION OVERRIDES

Field or Control

Description

Parent Number In College

Select 1:Yes.

Parent AGI (parent adjusted gross income)

Select 1:Yes.

Parent Addl Fin Total (parent additional financial total)

Select 1:Yes.

Student Number In college

Select 1:Yes.

Student AGI (student adjusted gross income)

Select 1:Yes.

Student Addl Fin Total (student additional financial total)

Select 1:Yes.

REJECT OVERRIDES

Select 1: Yes to override a listed reject.