Origination Management
Before a student can receive any Title IV disbursements, all funds the institution considers awardable must be acknowledged by Common Origination and Disbursements (COD). After the student is packaged with eligible Title IV funds, Student Financial Planning triggers all Award and Disbursement data to the COD System using the “Common Record” format. An origination file establishes a new award and projected disbursement with the COD system. An origination file can be updated for any changes in dates or award eligibility amounts that are modified for any projected disbursements.
What Student Financial Planning Does Automatically
Student Financial Planning automatically does the following things:
Triggers originations
Student Financial Planning triggers originations for Title IV funds when the student is packaged and includes the full amount the student is eligible to receive up to the institutions configured packaging limit and the fund amount is based on actual data. Originations are triggered for funds with a fund status of Estimated or Awarded and a disbursement status of Projected or Disbursement Scheduled.
If a fund is being originated prior to the award year's Origination Start Date, Student Financial Planning stores the origination in a queue until the Origination Start Date is met. If a fund is being originated after the award year's Origination Start Date, the disbursement status updates to Origination Ready to be Sent to COD and Student Financial Planning creates an origination request file.
Once the origination file is sent, Student Financial Planning updates the disbursement status to Origination Sent to COD.
Creates origination file(s)
Student Financial Planning creates an origination file or updates the origination file and includes all required data in order to process the Title IV award(s) correctly through COD. Once the origination file is triggered, Student Financial Planning creates the Common Record File and includes all required data fields specified in the Common Record layout based on the fund(s) being originated. Information in the origination file includes the correct awards per award year, the academic year and loan period dates based on the academic year the funds are being originated.
Student Financial Planning creates an updated origination file and includes updated award amounts and date changes in the student's package for all anticipated awards.
Triggers re-originations
Student Financial Planning triggers Re-Originations if the disbursement amount, academic year and/or loan period dates change.
The funds included in the re-originations depends on whether the disbursement disbursed and whether the amount is increasing, decreasing, or being removed or whether the dates are being updated.
Re-originates and zeroes out funds
Student Financial Planning creates an updated origination file and zeroes out future award funds when there are anticipated disbursements that need to be canceled so that the Title IV award processes correctly through COD.
Once the origination job is triggered, the proper Common Record file is created. Student Financial Planning includes all required data fields specified in the Common Record layout based on the fund that is being originated and the updated award amounts in the origination file. If future award funds are no longer valid in the student's package, they are zeroed out.
Receives the origination response file
Student Financial Planning process an origination response in order to confirm the student's package. Using the Document ID, the Common Record file is matched to the student record. The origination response is displayed on the student record.
Student Financial Planning verifies that the origination file has been accepted by COD and for any origination files that have not been accepted and follows the SAIG Error Handling process.
Updates direct loan disbursement fee and interest rebate amounts
Student Financial Planning updates the Direct Loan disbursement fee and interest rebate amounts for each loan period when the U.S. Department of Education releases a change that affects a loan that already originated so that the Direct Loan award includes the appropriate disbursement fees and interest rebate amounts. Student Financial Planning updates the disbursement fee and interest rebate amounts when the U.S. Department of Education releases a change that affects a Subsidized Loan, Unsubsidized Loan, or PLUS Loan. The existing loan fee is canceled and the loan is re-originated with the updated loan fee.
Triggers the new award year originations batch job
Student Financial Planning runs a batch job once the Origination Start Date for the new Award Year occurs.
The system should trigger a batch job once the system date equals the Origination Start Date for the new Award Year. Student Financial Planning updates the Disbursement Status and triggers the creation of the Origination File for all queued items. Once the Disbursement Statuses have been updated, the queue is wiped out.
Configurable Attributes
This feature does not have any configurable features.
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
- XML Viewer (to View Complete COD xml)
See Set General Permissions Matrix for additional information.
Navigation to the Student Financial Planning User Interface Functionality
To view Originations