G5 Management
The G5 process enables an institution to request payments, adjust drawdowns and return cash to The Department of Education for the following Title IV programs: Federal Pell Grant Program, TEACH grant program, Federal Supplemental Educational Opportunity Grant (FSEOG) and the Direct Loan Program (Subsidized, Unsubsidized & Plus Loans).
Overview
Student Financial Planning G5 Managementcalculates the daily G5 drawdown amount per fund source, per award year, for all disbursements and refunds that are in a G5 Ready or G5 Ready - Refund status. Authorized users can complete a G5 drawdown transaction by entering a control number, view individual disbursements, update completed transactions, and view a transaction history for all prior G5 drawdowns.
Status Definitions
| Status | Description |
| G5 Ready | Disbursement satisfies all set G5 ready criteria |
| G5 Ready - Refund | Disbursements to be refunded to ED |
| G5 Confirmed | Disbursement has been drawn down from G5 |
| G5 Confirmed - Refund | Disbursement has been refunded from successful G5 drawdown transaction |
What Student Financial Planning Does Automatically
Student Financial Planning automatically does the following things:
Identifies disbursements & refunds for the net daily calculation
Student Financial Planning identifies the disbursements and refunds for each fund type that is determined to be G5 Ready and calculates the daily G5 drawdown amount for all applicable fund types. After the drawdown calculation is completed, you can enter the G5 Control Number to complete the drawdown transaction.
Calculates the drawdown amount
Student Financial Planning calculates the net amount of money to be drawn down from G5 daily, based upon eligible disbursements and refund amounts calculated per award year.
- For all Direct Loans, the FAS will use the Incremental Net Disbursement Amount generated for that disbursement
- For all other fund types, the FAS will use the Incremental Disbursement Amount generated for that disbursement
Manages G5 statuses
Student Financial Planning manages all disbursements in G5 Ready and G5 Ready - Refund status so they can be included or subtracted in the daily G5 drawdown calculation. Upon completion of the drawdown transaction, Student Financial Planning automatically updates disbursements in G5 Ready status to G5 Confirmed and disbursements in a G5 Ready - Refund status to G5 Confirmed - Refund.
Completes follow-up actions upon completion of the G5 drawdown
Student Financial Planning assigns a unique Transaction ID and associates the ID with the completed drawdown. The transactions are grouped daily. After the Transaction ID is associated with the drawdown, Student Financial Planning automatically sends a G5 message for all payments and refunds within the completed drawdown transaction and includes the G5 drawdown transaction date, amount and status.
Displays drawdown calculation
The New G5 Net Drawdown Amounts and a G5 Transaction History per Fund Source are displayed in the Student Financial Planning User Interface.
- Amounts are displayed per fund source, per award year, per day
- Direct Loan Subsidized, Unsubsidized, Parent PLUS and Grad Plus are displayed in one category titled, Direct Loans
- All other fund sources will be displayed separately as Pell, IASG, FSEOG, and TEACH
Displays student identifier and disbursement identifier
Student Financial Planning displays the student's External Student ID and the Payment/Return ID for all disbursements included in a drawdown calculation. You can view this information before and after the drawdown has been completed.
Configurable Attributes
There are no configurable attributes for this feature
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.
- Administration
- G5 Drawdown
See Set General Permissions Matrix for additional information.