Year-Round Pell Grant

Overview

If the Year-Round Pell Grant Indicator is equal to True, Student Financial Planning uses the configured Year-Round Pell Grant Multiplication Factor for the maximum Pell Grant Scheduled Award. For 2018, one and a half times the maximum scheduled award is allowed in the award year. The Scheduled Award for 2018 Award Year is equal to $5,920, so a student would be eligible for a Maximum Projected Award of $8,880 ($2,960 per payment period).

The majority of Pell Grant calculator evaluations remain the same except for the following:

Determine Payment Period and Payment Period Award Year.
Calculate Pell Grant Payment Period Disbursement Amounts.
Determine Remaining Eligibility Based on NSLDS Award Year Limits.

Eligibility for Year-Round Pell Grant

To be eligible for Year-Round Pell Grant, the student must meet the following criteria:

Year-Round Pell Grant Indicator Must Equal True.
Enrollment Status Must Equal:
- Full Time (F).
- Three-Quarter Time (Q).
- Half Time (H).

What Student Financial Planning Does Automatically

Student Financial Planning automatically does the following things:

Determines if the Payment Period being evaluated is a Crossover Payment Period

Crossover Payment Period

Student Financial Planning evaluates and determines the Maximum Projected Award per Payment Period for both crossover award years.

Non-Crossover Payment Period

Student Financial Planning evaluates and determines the Maximum Projected Award per Payment Period for the payment period award year

Note: If Year-Round Pell Grant would benefit the student, but they aren't enrolled in a crossover payment period, the Pell Maximum Projected Award per Payment Period is evaluated using the normal Pell Grant calculation for that award year. Also, all Pell Grant calculator evaluations remain the same except for the Determine Remaining Eligibility Based on NSLDS Award Year Limits logic.

Determines if ISIRs have been selected for Packaging for Crossover Award Years

The application calculates Pell Grant award amounts when a crossover payment period exists. You can use the Award Year Selection Criteria field in the FAS Fund Config Guide to select which Aid Year to use determine Pell Grant awards for the crossover payment period. If you don't configure the Award Year Selection Criteria field, the application defaults to the first award year if there is remaining eligibility. If there is no remaining eligibility in the first award year of a crossover payment period, the application uses the second award year to award Pell funds.

If both Aid Years have ISIRs that can be used for Packaging, SFP calculates the Maximum Projected Award per Payment Period amount for each of the Aid Years.

All Pell Grant calculator evaluations remain the same except for the Determine Remaining Eligibility Based on NSLDS Award Year Limits logic. When calculating the Maximum Projected Award per Payment Period amount, the application updates the “Percent of Award Year Eligibility Remaining” calculation. The value updated is the Maximum allowable Scheduled Award Percent (First Value in the equation).

Calculates the Percent of Award Year Eligibility Remaining

Note: The Maximum Eligibility Percent turns the configured Year-Round Pell Grant Multiplication Factor into a percentage.

Year-Round Pell Grant Multiplication Factor of 1.5 = 150%.
Year-Round Pell Grant Multiplication Factor of 2.0 = 200%.

Maximum Eligibility Percent - NSLDS "Percent of Eligibility Used" - Prior Maximum Projected Award per Payment Period Percent (for AY) + Current & Future Payment Period Amount Percent Total (for AY) = Percent of Award Year Eligibility Remaining

Determines in which Award Year to place the Payment Period to be most beneficial to the Student

When the payment period is a crossover, the application compares the Maximum Projected Award per Payment Period for both award years and puts the payment period in the award year that produces the greater amount for the student.

Communicates Additional Pell Grant to COD

If additional Pell Grant is given in an award year for a payment period, Student Financial Planning communicates a value equal to True in the <AdditionalEligibilityIndicator> tag that is included in COD origination/disbursement files.

Note: The <AdditionalEligibilityIndicator> tag should always be included in the COD origination/disbursement files (for example, subsequent originations, disbursement cancellations, returns, and so on) as True/False based on the first accepted origination.

Configuration Updates

Year-Round Pell Grant Indicator

The application is configured to support a Year-Round Pell Grant Indicator. If the Year-Round Pell Grant Indicator is set to True, the application uses the configured Year-Round Multiplication Factor.

Year-Round Pell Grant Multiplication Factor

The application is configured to use the Year-Round Pell Grant Multiplication Factor if the Year-Round Pell Grant Indicator is set to True. If the Year-Round Pell Grant Indicator is set to True, the Year-Round Pell Grant Multiplication Factor is required.

The Year-Round Pell Grant Multiplication Factor for the Award Year 2018 is equal to 1.5.

Note: If award year configuration has not been set for the award year, the application defaults the Year-Round Pell Grant Indicator and Year-Round Pell Grant Multiplication Factor configuration to latest configured year.

Navigation to the Student Financial Planning User Interface Functionality

To view the disbursements per Payment Period, navigate to Student Financial Planning User Interface > Student > Student Record > Disbursing.

Note: You may need to review multiple Academic Years.