1. Using Student Financial Planning
  2. Alternate Summer EFC Calculation

Alternate Summer EFC Calculation

You can generate a separate need calculation for Scheduled Academic Year (SAY) term programs in the summer in order to award Title IV funds independently from the standard terms.

Alternate Summer EFC Method

With this approach, you calculate a separate need calculation for the Standard and Summer terms.

  • For Summer Trailers:

    • The Standard Term EFC is selected based on the number of months established for the standard terms.

    • The Summer EFC is determined by taking the Primary Alternate EFC corresponding to the total months enrolled in the academic year minus the standard term EFC.

  • For Summer Headers:
    • The Summer EFC is selected based on the Primary Alternate EFC corresponding to the number of months in the summer period.
    • The Standard term EFC is selected by subtracting the Primary Alternate EFC used for the summer from the Primary Alternate EFC that corresponds to the total number of months the student will be enrolled during the academic year.
  • The existing TERM_PP_Months configuration will be used to determine the months in standard or summer terms.

The alternate summer need calculation is only used for Subsidized loans and FSEOG.

Required Setup

  • Enter an effective date in the Summer_EFC_Need_Calc column introduced in the School workbook (SCHOOL.csv).
  • Ensure you have the latest Award_Override_Criteria script used in the FAS Fund Config workbook (FAS_FUND_CONFIG.csv) delivered in the baseline configuration for Subsidized and Unsubsidized loans.
Here are some tips and considerations:
  • Don't enable the feature for academic years which contain courses in the summer or for which you have already packaged summer financial aid, as this impacts the direct loan calculations. If summer has already been packaged before enabling the alternate summer EFC calculation, enabling the alternate summer EFC claculation will generate a re-calculation of need for FSEOG and Direct Subsidized Loans for the standard and summer terms and may create a re-distribution in amounts in the student's package.
  • The Summer EFC calculation is applied if the academic year end date is greater than the effective date set in the Summer_EFC_Need_Calc column of the School workbook (SCHOOL.csv).