Administrative Relief
Student Financial Planning (SFP) limits the packaging of any new awards past the configured Awarding Close Out Date and removes projected/estimated awards from the package.
Overview
Only students Awarded funds by the Awarding close-out date remain packaged and pending disbursement until the Fund Close Out Date is met. And once the system date is equal to or greater than the COD Close Out Date the system Prohibits any COD communication for that fund type, for that award year.
- Phase 1: Award
- Cancel projected awards
- Select upcoming award year
- Limit new awards
- Phase 2: Fund
- Build-down awards
- Cancel non-disbursed disbursements
- Shift award year
- Transfer all updates to COD
- Phase 3: COD
- Prohibit automated COD communication
- Disbursement status updates
If a return or a re-entry within 180 days creates a disbursement in a closed-out award year, SFP creates a Manual Fund Award Year Closeout Date Evaluation Review task for manual review and you will be able to determine if the award year needs to be re-opened so processing can continue within the SFP system.
What Student Financial Planning Does Automatically
SFP automatically does the following things:
Cancels disbursements in a closed-out award year
When the SFP system date is equal to a configured or overridden award year close-out date for a fund type, SFP cancels all pending disbursements associated with the closed-out award year for Title IV and non-federal fund types. If the institution re-opens an award year by extending the configured close-out date for the fund type, SFP re-triggers the process to cancel any pending disbursements once the new/updated award year close-out date has been reached.
Updates the award year for cross-over periods
SFP evaluates all periods for a given fund type that have closed-out to determine whether the award year can be updated for the period. If the award year can be updated for a period, SFP calculates the student's fund eligibility for that period using the updated award year. When the award year for a period is updated due to an award year close-out, SFP does not create any new disbursements under the new award year, until all disbursements from the closed-out award year are canceled.
Once an award year has been updated for a period due to the award year close-out, SFP does not revert the period to the previous award year even if the award year is re-opened. If the student re-enters, SFP ensures that the award year is not updated for the period in which he has re-entered, even if the award year has closed-out and all award year update criteria have been met. SFP evaluates whether the award year close-out date has occurred each time eligibility has been calculated for a period (e.g. payment period, loan period).
SFP only updates the award year for Title IV fund types.
Limits awarding of funds in close-out award years
After the configured award year close-out date for a fund type has passed, SFP ensures that funds are not awarded or updated within the close-out award year.
Limits updates to disbursements upon the COD close out date
Once the award year has closed-out for a fund type, SFP ensures that disbursements are not updated/processed within the closed-out award year for both Title IV and non-federal fund types. SFP limits disbursement amounts from being created within the closed-out award year. However, returned disbursements can be created for a closed-out award year (e.g. due to R2T4 calculation) and disbursements can potentially be created in a closed-out award year if the academic year evaluated is part of a re-entry within 180 days.
SFP only allows disbursements to be processed if the award year is open for the fund type.
Prohibits COD communication after the COD close out date
After the COD close-out date for a fund and award year has passed, SFP prohibits all automated COD transactions for the fund type/award year combination. After the COD close-out date has been reached, all disbursements triggered for origination are updated to Origination Pending Re-opened Award Year and all triggered disbursements/returns are updated to Disbursement Pending Re-opened Award Year. When a funds disbursement statuses is Origination/Disbursement Pending Re-Opened Award Year, the disbursement is not picked up by the origination/disbursement file delivery batch job.
You can manually update the COD close-out date configuration after the initial COD close-out date has been reached for a fund type and Aid Year. When the COD close-out date has been updated, the system sets all disbursements previously set to Origination/Disbursement Pending Re-opened Award Year to Origination/Disbursement Ready to be sent to COD.
After the COD close-out date is reached, you can use Disbursement Administration to manually process and communicate disbursement groups to COD for a fund type/Aid Year combination.
- For automated fund close-out processing with COD, set the Award Year close-out date prior to the COD close-out date.
- To process a fund group post COD close-out, navigate to and update the disbursement group to the appropriate Origination/Disbursement Sent to Cod status
Configurable Attributes
- The institution can configure the award year close-out date.
- The institution can configure the fund close-out date.
The user must have a role with the following General Permission(s) through Roles Management in order to view the following information.
- Administration
- Administrative Relief
See Set General Permissions Matrix for additional information.