Update the Disbursement Status

You can update the disbursement status.

Overview

However, some disbursement statuses require additional fields to be updated. If you update the disbursement status to any of the following, to keep the data consistent, confirm or correct the additional editable fields:

Status	Editable Fields
Disbursed	Payment ID Disbursement Date
Disbursement Cancelled	Cancellation Reason Cancellation Date
Disbursement Returned	Return to Lender ID Return Date

Payment ID: When a user updates the status to Disbursed, Student Financial Planning validates that the sequence number is equal to 1. If that requirement is met, Student Financial Planning generates a unique Payment ID (based on the defined Payment ID rules). However, you can override it.

Return to Lender ID: When a user updates the status to Disbursement Returned, Student Financial Planning validates the sequence number is greater than 1 and there is a sequence number 1 in a status of Disbursed. If that requirement is met, Student Financial Planning generates a unique Return to Lender ID (based on the defined Return to Lender ID rules). However, you can override it.

Return Date: Student Financial Planning should only allow you to add a return date if the disbursement status is Disbursement Returned. When a return date is entered, a Return to Lender ID must also be entered.

Tips for Updating the Disbursement Status

Instead of setting the status to “Projected”, “Origination Ready to be Sent to COD” or “Disbursement Cancelled”, set the disbursement status to “Disbursement Scheduled”.

When the status is set to "Disbursement Scheduled" the disbursement cancellation process is triggered, the disbursement then goes through QC and then Student Financial Planning decides if the cancellation process needs to be communicated to COD. If you do not use the "Disbursement Scheduled" status the system cancels the cancellation process and the COD engine does not recognize that the disbursement is canceled. Unlike previously the system cannot simply go off the cancellation reason being set since Student Financial Planning is now communicating funds while a disbursement is on QC hold. Student Financial Planning had to introduce a disbursement process that the system can start, finish, cancel, and so on, and that is being used by the COD engine to determine how to communicate it.

Note: It is VERY IMPORTANT to update Student Financial Planning if COD is updated outside of the Student Financial Planning system. If Student Financial Planning is not updated to match COD, rejects may occur.

Required Role Permissions

The user must have a role with the following General Permission(s) through Roles Management in order to complete the manual processing steps listed below.

• Administration
• System Management
• Disbursement Administration

See Set General Permissions Matrix for additional information.

Manual Processing Steps

Log into the Student Financial Planning User Interface (UI)

1. Navigate toAdministration > System Management > Disbursement Administration
2. Enter the student's External Student ID in the search field and select the student
3. Click the Disbursement Status drop-down menu for the disbursements you want to update
4. Choose a new disbursement status
   • Complete any other additional updates as necessary
5. Click Save Disbursement Records
   • Confirm Updates
   • Refresh screen and review updates

   In this scenario, if you need to communicate the updates to COD:

   • To send only the updated disbursement record(s) to COD, click Re-originate to the right of each updated disbursement
   • To send all disbursement records to COD, click Send Originations to COD.
6. Review disbursing screen and confirm the disbursement status updated.