1. Using Student Financial Planning
  2. Update the Return to Lender ID and Return Date

Update the Return to Lender ID and Return Date

When you update the disbursement status to Disbursement Returned, you need to Update the Return to Lender ID and Return Date.

Overview

The application validates the sequence number is greater than 1 and that there is a sequence number 1 in a status of Disbursed. If those requirements are met, the application generates a unique Return to Lender ID based on defined rules. However, you can override the Return to Lender ID.

Tips for updating the Return to Lender ID and Date

The Return to Lender ID and Return Date are required and should be set or updated together.

  • The Sequence 1 disbursement must be in a status of Disbursed .
  • The Sequence Number must be great than 1 to update the status to Disbursement Returned.
  • A Return Date must be entered if the disbursement is being returned.
  • There must be a unique Return to Lender ID Number.
  • You can enter or update a Return ID using the Disbursement Admin UI or API that meets one of the following conditions:
    • If Payment ID is from an external source, it doesn't begin with the letter R.
    • If Payment ID begins with the letter R, it matches that Payment ID the system generated Payment ID.
    If conditions aren't met, an error message displays.

Student Financial Planning should only allow the user to add a return date if the disbursement status is Disbursement Returned.

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 Administrator

See Set General Permissions Matrix for additional information.

Manual Processing Steps

Log into the Student Financial Planning User Interface (UI)

  1. Navigate to Administration > System Management > Disbursement Administration
  2. Update the Disbursement Status to Disbursement Returned
    • Sequence Number for disbursement(s) must be greater than 1
    • There must be a Sequence Number 1 in a status of Disbursed
  3. Confirm/Update the Return to Lender ID and Return Date
    • Manually Update the Return to Lender ID and/or Return Date (if needed)
  4. Save Disbursement Records
    • Confirm modifications
    • Send Originations to COD and/or Re-Originate if you need to communicate the updates to COD
  5. Review the disbursing UI to confirm changes.