7How SFP handles IASG for 2023-2024 and prior aid years
See how Oracle Student Financial Planning (SFP) evaluates Iraq Afghanistan Student Grant (IASG) eligibility, calculates award and disbursement amounts, manages crossover payment periods, and updates fund status for 2023–2024 and prior aid years.
For the 2024–2025 and future aid years, IASG is folded into Pell Grant eligibility determination.
Determines IASG eligibility
SFP determines whether the student meets all general Title IV eligibility requirements for Federal Student Aid (FSA) and the IASG.
IASG closely follows the same guidelines as the Pell Grant, and a student can receive one or the other, but not both.
To receive the IASG instead of Pell, the student must have an Expected Family Contribution (EFC) greater than the allowable EFC to receive the Pell Grant.
SFP uses the student's program, courses, financial aid history, and Institutional Student Information Record (ISIR) to determine eligibility. It evaluates whether the student meets the following requirements:
- Eligible IASG program
- Eligible IASG enrollment status
- Eligible degree (bachelors degree or a first professional degree)
- Eligible EFC (must be greater than the federal maximum allowable EFC for Pell)
SFP prevents retroactive awarding when the student doesn't meet satisfactory academic progress (SAP) or has unusual enrollment restrictions.
Determines the IASG award
After eligibility is established, SFP determines the maximum projected award amount of IASG and doesn't award an amount less than the regulatory minimum.
SFP determines the payment period award year and the student's scheduled award based on the student's enrollment status. It also reduces the scheduled award according to sequester requirements based on the student's disbursement date, if necessary.
Calculates IASG disbursement amounts for nonterm credit-hour schools
SFP uses Pell Formula 4 to calculate disbursement amounts for each payment period at a nonterm credit-hour institution.
Pell Formula 4 prorates the student's scheduled award based on the number of credit hours in the payment period compared with the credit-hours in the defined academic year, or the number of weeks of instructional time in the payment period compared with the weeks of instructional time in the academic year.
Determines IASG awards for a crossover payment period
SFP calculates IASG award amounts when a crossover payment period exists.
If a crossover exists, SFP always defaults to the first award year if there's remaining eligibility. If there isn't any remaining eligibility in the first award year of a crossover payment period, SFP uses the second award year to award IASG funds.
When IASG eligibility conditions exist for the first and second award year, SFP calculates the maximum projected award for both award years in the crossover payment period and determines whether there are ISIRs selected to be used in packaging for both award years.
SFP uses the same formula to calculate the payment for a crossover payment period that it uses for any other payment period in the award year.
Updates the IASG fund status
SFP updates the fund status from estimated to projected to awarded during the packaging process after the fund meets the configured awarding criteria.
If an award amount increases and the student doesn't pass the award criteria check, SFP doesn't award the increased amount.