Inadvertent Overpayment
If Student Financial Planning determines that a disbursement is made to a student after the student's Official Last Date of Attendance (OLDA) up to the Date of Determination (DOD), the system considers the disbursement an Inadvertent Overpayment and includes the value in the R2T4 calculation as Could Have Been Disbursed (CHBD) aid.
What Student Financial Planning Does Automatically
Student Financial Planning automatically does the following things:
Determines if an inadvertent overpayment exists
If Student Financial Planning determines that a disbursement is made to a student after the student's Official Last Date of Attendance (OLDA) up to the Date of Determination (DOD), the system considers the disbursement an Inadvertent Overpayment and includes the value in the R2T4 calculation as Could Have Been Disbursed (CHBD) aid.
Example
The student stops attending on Friday 1/1/20xx but then receives a scheduled disbursement on Monday 1/4/20xx.
Student Financial Planning checks the disbursement date (1/4/20xx) and determines whether the disbursement date is between the OLDA and the DOD
- If the student's enrollment status is withdrawn or deceased and the disbursement date is on the student record after the OLDA, but on or before the DOD then an inadvertent overpayment exists
Sends the outbound disbursement acceptance message
Student Financial Planning automatically creates and sends a disbursement acceptance information message containing late disbursement information to the student when an inadvertent overpayment exists for a grant or loan. If there are multiple Post-Withdrawal Disbursements (PWDs) or Late Disbursements (LDs), Student Financial Planning creates a message lists all eligible fund types and requests disbursement acceptance for any loans. If the PWD/LD is associated with a grant, the message is sent to the student, but the disbursement acceptance status is set to Disbursement Acceptance Not Required. If the PWD/LD is associated with a loan, the message is sent to the student, and the disbursement acceptance status is set to Disbursement Acceptance Pending.
For a PWD, the message is sent within 30 days from the date it is determined the student withdrew.
Status Definitions
Disbursement Acceptance Statuses
A disbursement may require acceptance (i.e. Late Disbursements and PWDs) and will follow certain state transitions throughout it's life-cycle
| Status | Description |
| Disbursement Acceptance Pending | For Title IV loans, Disbursement Acceptance outbound message is sent to student/parent and requires accepted value |
| Disbursement Acceptance Not Required | For Title IV grants, eligible PWD or Late Disbursement is automatically disbursed and does not require acceptance |
| Disbursement Accepted | For Title IV loans, the PWD or Late Disbursement has an accepted value from student/parent |
| Disbursement Not Accepted | For Title IV loans, the PWD or Late Disbursement was not an accepted from student/parent |
| Disbursement Not Accepted by Due Date | For Title IV loans, the PWD or Late Disbursement was not an accepted from student/parent by configured due date |
Determines the disbursement acceptance due date
Student Financial Planning sets the disbursement acceptance due date for both Title IV Grants and Loans although disbursement acceptance is not required for grants.
Student Financial Planning does not allow the disbursement acceptance due date to be 180 days past:
- The Award Year/Loan Period for active students
- The student's date of determination for withdrawn students
- The student's graduation date for graduate students
If you manually override the calculated due date, Student Financial Planning uses the overridden date instead and triggers a new outbound message to the student with the updated date(s).
Configurable Attributes
Configure the late disbursement acceptance due dateYou can configure the deadline for when a Disbursement Acceptance Inbound Message needs to be received for each specific fund so that an inadvertent overpayment disbursement is canceled after a configured deadline is met and acceptance has not been received.
Student Financial Planning does not allow the disbursement acceptance due date to be 180 days past:
- The Award Year/Loan Period for active students
- The student's date of determination for withdrawn students
- The student's graduation date for graduate students
Required Role Permissions
The user must have a role with the following General Permission(s) through Roles Management in order to view the following information.
- Student
See Set General Permissions Matrix for additional information.
Navigation to the Student Financial Planning User Interface Functionality
To view the R2T4 Information