Disbursing

Before a student can receive any Title IV Disbursements, all funds the institution considers awardable must meet eligibility criteria in addition to being acknowledged by Common Origination and Disbursements (COD).

Overview

Once all Disbursement Criteria is met for all eligible Title IV funds, Student Financial Planning triggers the disbursement data to COD using a Common Record format. The Disbursement file communicates disbursement details to COD. A Disbursement file with records that have been flagged as ready to be disbursed must follow specific rules for any updates made in the student's fund eligibility and award amounts after the file is acknowledged by COD.

What Student Financial Planning Does Automatically

Student Financial Planning automatically does the following things:

Creates disbursement schedules

Student Financial Planning creates Title IV Disbursement Schedules to disburse funds when the Anticipated Disbursement Date (ADD) is reached and all Disbursement Criteria is met. You can configure Title IV disbursement schedules by using Groovy scripts in the optional Disbursement Dates field of the FAS_FUND_CONFIG.csv Configuration Workbook. You can create as many disbursements as needed for each payment period. Using this configuration supersedes all default system logic for Title IV disbursement schedules with the following exceptions:

• Disbursement date system logic related to Leaves of Absence.
• If script returns a new ADD that is in the past, the disbursement is scheduled for the current system date.
• If an existing ADD is in the future and the script returns an ADD that is in the past, the ADD is scheduled for the current system date.
• If an existing ADD is in the past, it’s not updated.

If you choose not to use the FAS_FUND_CONFIG.csv configuration option, default system logic determines ADDs for Title IV funds based on Payment Period Start Dates and Loan Payment Period Start Dates.

Fund Type	Anticipated Disbursement Date Based On
Direct Loan	Loan Payment Period Start Date
Other Title IV Loan	Payment Period Start Date
Title IV Grant	Payment Period Start Date
Direct Loan for First-Time First-Year Borrower	Program Start Date plus 30 Days
Campus Based Fund (FSEOG)	After the associated Award Year Start Date

If the institution has an internal policy to delay a disbursement, you can configure that using the Number of Days delay to Determine Disbursement Dates field in the School.csv Configuration Workbook. If SFP is setting the ADD and the date is less than the current system date, the system sets the ADD as the current system date.

Non-Federal Fund (NFF) disbursement dates are determined by configuring the NFR Fund Disbursement Dates field in the NFR_ATTRIB.csv Configuration Workbook.

Once an ADD is determined, if there are Direct Loans in the student's package, SFP runs the Leave of Absence (LOA) Engine to determine if any if the ADDs should be updated due to being scheduled during an LOA period or if the current system date is in an LOA period and the disbursement is still not disbursed.

Updates the disbursement status

When scheduling the disbursement, Student Financial Planning sets the appropriate disbursement status for each fund.

Status	Description	Trigger
Projected	Disbursement Amount and Anticipated Disbursement Date has been determined, but the fund has not yet been awarded or if awarded requires acceptance.	The student has been packaged and the disbursement amount and anticipated disbursement date is set, however, the fund status is Projected or Estimated.
Disbursement Scheduled	Anticipated Disbursement Date and Disbursement Amount is determined but the Disbursement has not met the Origination Criteria (if applicable).	Fund has been Awarded and Accepted and Origination Criteria (i.e. acceptable enrollment/admissions status).
Pending COD Origination Start Date	For non-campus based Title IV funds (excluding IASG), fund is pending COD origination start date.	Fund has met configurable Origination Criteria, but COD is not open for the award year. Origination Criteria is evaluated in the Origination Batch Job .
Origination Ready to be Sent to COD	For non-campus based Title IV funds (excluding IASG), fund is ready to be originated/re-originated.	Fund has met configurable Origination Criteria. Origination Criteria is evaluated in the Origination Batch Job .
Origination Sent to COD	For non-campus based Title IV funds (excluding IASG), Origination/Re-origination file has been generated and is staged for TDClient to pick up. SFP does not know if/when TDClient has picked up a file.	An origination request has been sent to COD.
Origination Rejected	For non-campus based Title IV funds, COD has rejected the origination for the disbursement.	COD returned a response of Rejected to the origination request.
Origination Accepted	For non-campus based Title IV funds, COD has accepted the origination for the disbursement.	COD returned a response of Approved to the origination request.
Disbursement On Hold	For NFR Funds where the funds aren't yet ready to be disbursed.	A user has manually placed a disbursement On Hold.
Disbursement Canceled	Disbursement hasn't been disbursed and is being canceled.	Disbursement has not disbursed and is being canceled. (See Cancellation Reasons)
Disbursement Ready to be Sent to COD	For non-campus based Title IV funds (excluding IASG), disbursement is ready to be sent to COD.	All Disbursement Criteria for the disbursement has been Met. Disbursement Criteria is evaluated in a Disbursement Criteria batch job.
Disbursement Sent to COD	For non-campus based Title IV funds (excluding IASG), disbursement has been generated and is staged for TDClient to pick up. SFP does not know if/when TDClient has picked up a file.	The disbursement request has been sent to COD.
Disbursement Rejected	For non-campus based Title IV funds, COD has rejected the disbursement	COD returned a response of Rejected to the disbursement request.
Disbursement Ready for Review	School can configure a Non-Federal Fund to require user review after disbursement criteria is evaluated and met	A Non-Title IV disbursement meets all Disbursement Criteria but requires user review.
Disbursed	For non-campus based Title IV funds, COD has accepted the fund For all other funds, the fund has met the disbursement criteria	COD returned a response of Approved to the disbursement request OR A Non-Title IV disbursement that required review, has been reviewed and approved by a user.
Disbursement Returned	Disbursement has been disbursed and a part of all of the disbursement is being returned	Disbursement requires to be returned: Eligibility amount changed (reduced). Student requested to return a portion of the funds. A credit balance check was returned. Return to Title IV calculation resulted in a return.
Held for QC Review	Disbursement is On Hold due to a QC Hold	Disbursement is subject to a disbursement related QC Hold.
QC Reviewed	Disbursement is no longer On Hold and will subsequently be disbursed, canceled, or returned	A disbursement related QC Hold has been released.
Pending Re-opened Award Year	System has created a negative disbursement for an Award Year that has been closed-out	There is a return or a disbursement required for an Award Year that has been closed out.
Pending Previous Financial Award ID Cancellation	This status is used when a student is converted with more than one Financial Award ID for a single loan period. Student Financial Planning holds all originating and disbursing for the latest financial award ID until all non-disbursed disbursements are canceled. In order to ensure that the newly created Financial Award ID is used moving forward, Student Financial Planning displays this status until the old (converted) IDs are fully canceled.	Student is converted and has more than one Financial Award ID for a single loan period.
Pending COD Acceptance of Stafford Loan	When the award amount changes for Subsidized and Unsubsidized funds in the same academic year, Student Financial Planning prevents re-originating the fund with the increased amount until the decreased amount has been fully accepted by COD.	One Stafford Loan has been increased while the other has a decreased amount and communication with COD is pending.
Pending Loan Fees Update	When the loan fee and rebate amount associated to a fund changes, the existing award needs to be canceled with COD prior to originating the new amounts. This status will be used on the newly created disbursements while waiting for the prior amount to be canceled.	Loan Fee Percentage Period has changed.
Pending Previous Award Year Cancellation	When a disbursement is associated with multiple award years, Student Financial Planning waits until the award year being canceled is fully canceled prior to originating the current year disbursement. The current year disbursement remains in a Pending Previous Award Year Cancellation status until the award year being canceled is fully canceled.	Disbursement for a previous award year is being canceled.

Updates disbursement schedules

For each Title IV fund and Non-Federal Fund, SFP updates the Anticipated Disbursement Date based on system configuration. Each time the student is packaged, SFP determines if the Borrower-Based Academic Year (BBAY) or Non-Federal Fund (NFF) Period Dates changed and updates the Anticipated Disbursement Dates as needed. However, a disbursement date is not updated if the academic year has ended, the scheduled disbursement has already disbursed, been returned, or canceled, or a new Anticipated Disbursement Date is in the past and further in the past than the currently scheduled disbursement date.

Calculates initial disbursement amounts

Student Financial Planning sets the student's initial disbursement amounts based on the total amount the student is eligible to receive and the fund type.

For Title IV Grants and Direct Loans, Student Financial Planning sets the disbursement to the maximum amount the student can receive for a payment period based on the eligible amounts determined by the package, and the system limits the final disbursement in the academic year based on the packaging limit. Additionally for Direct Loans packaged in a term academic model, the amount is prorated for graduating undergraduate students when their final enrollment period is less than the academic year definition. The proration is triggered regardless of the enrolled credit amount within the final term of their program. Graduating undergrad students only attending a partial academic year will have direct loans prorated based on the number of credit hours they are enrolled.

For Non-Federal Funds, since there is only one disbursement per period, the system sets the disbursement to the maximum amount the student can receive for that Non-Federal Fund period based on the amount awarded and the packaging limit.

Creates initial disbursement numbers and sequence numbers

Student Financial Planning sets the student's initial disbursement amounts based on the total amount the student is eligible to receive and the fund type.

For Title IV Grants and Direct Loans, Student Financial Planning sets the disbursement to the maximum amount the student can receive for a payment period based on the eligible amounts determined by the package, and the system limits the final disbursement in the academic year based on the packaging limit. Additionally for Direct Loans packaged in a term academic model, the amount is prorated for graduating undergraduate students when their final enrollment period is less than the academic year definition. Graduating undergrad students only attending a partial academic year will have direct loans prorated based on the number of credit hours they are enrolled.

For Non-Federal Funds, since there is only one disbursement per period, the system sets the disbursement to the maximum amount the student can receive for that Non-Federal Fund period based on the amount awarded and the packaging limit.

Creates subsequent disbursement numbers and sequence numbers

Student Financial Planning creates subsequent Disbursement Numbers and Sequence Numbers when disbursements are updated or if the fund is being re-originated so that the Disbursement record will be properly tracked and processed in the COD system.

Student Financial Planning creates additional Disbursement Numbers per fund based on the fund type:

• Title IV Direct Loans: if a new Disbursement needs to be added to the Loan Payment Period, Student Financial Planning increment the Disbursement Number based on the last Disbursement Number used for the fund in the loan period.
• Title IV Grants: if a new Disbursement needs to be added to the Grant Payment Period, Student Financial Planning increment the Disbursement Number based on the last Disbursement Number used for the fund in the award year.
• NFR Funds: if a new Disbursement needs to be added to the NFR period, Student Financial Planning increment the Disbursement Number based on the last Disbursement Number used for the fund in the academic year.

Student Financial Planning creates additional Disbursement Sequence Numbers per Disbursement Number:

• The Number is calculated sequentially.
• The Disbursement Sequence Number is only incremented if a previously reported disbursed Disbursement needs to be updated.

Creates disbursement payment IDs

Student Financial Planning creates a unique Payment ID (fixed character length between 8-12 characters) for each transaction associated with the Disbursement so that the Student Accounting System (SAS) can record and use this identifier for further communication needed between the system and SAS.

Once the Disbursement is disbursed, Student Financial Planning create a unique Payment ID for each new Sequence Number that is created for a Disbursement where the incremental amount is not less than or equal to zero, since all negative disbursements will have a unique Return to Lender ID and all updates to dates where the incremental amount is zero will be associated to the original Payment ID. This unique Payment ID will be used to communicate between the system and SAS in the Disbursement Outbound Message, Credit Balance Outbound Message, and Student Academic and Financial Information Inbound Message.

Triggers disbursements

Student Financial Planning triggers the disbursing of funds when the Anticipated Disbursement Date has been reached so that the student can receive their disbursement when eligible.

Student Financial Planning also triggers the disbursing process when an authorized user manually resolves a rejected disbursement (refer to SAIG Errors for further details).

After the Disbursement process has been triggered, Student Financial Planning determines if all Disbursement Criteria has been met. Once all Disbursement Criteria has been met, Student Financial Planning determines if the Award Year associated to the Title IV Grant has been closed, or if the Loan Period associated to the Title IV Direct Loan has been completed. If the Award Year or Loan Period has been closed or completed, the disbursement will be considered a Late Disbursement and the student may need to accept the Late Disbursement amount prior to disbursing the fund.

If the student has not completed the Academic Year, Student Financial Planning disburses the fund appropriately. The Disbursement Date will be set for (TODAY's) date and the Disbursement Status will be updated based on whether the Common Record File will be required to be sent to COD. The Disbursement Status for Campus-Based Title IV funds, IASG, and NFR funds will be set to Disbursed. The Disbursement Status for all Non-Campus Based Title IV funds (excluding IASG), will be set to Disbursement Ready to be Sent to COD and will trigger the Disbursement File to be sent COD.

Evaluates disbursement criteria

Student Financial Planning checks a number of conditions once the Disbursement process has begun so that the fund will only be disbursed when all conditions have been met.

Fund Type	Disbursement Check
Title IV Funds	Package is not Pending Repackage. Current ISIR for Award Year associated with Disbursement is Valid or Unverified. Student has Academic Related Activity in the Payment Period that the fund is being disbursed for. Fund has been Awarded. Fund is not Pending Fund Acceptance (if required) Fund is not "Fund Not Accepted". Disbursement is not "Canceled". Student's Satisfactory Academic Progress (SAP) calculation has been run for the most recent Payment Period and the Student's SAP is not in a Disqualified status. Student is Active.
Non-Campus Based Title IV Funds (excluding IASG)	COD has accepted fund origination.
Non-Campus Based Title IV Loans	The transfer monitoring request to NSLDS was made more than 7 days prior.
Unsubsidized Loans	Subsidized Loan Fund Acceptance Status must not be Pending Acceptance or Pending Additional Acceptance. Student has completed Annual Student Loan Acknowledgement (CRIB file).
PLUS Loans	The PLUS Counseling requirements have been met if the PLUS Loan Final Credit Decision Status is based on the CRCS Student has completed Annual Student Loan Acknowledgement (CRIB file).
Campus Based Title IV Funds	Fund allocation is ready to be disbursed
Need-Based Title IV Funds	Current ISIR for Award Year associated to Disbursement is Valid
Non-Federal Funds	Package is not Pending Repackage Fund has been Awarded Fund is not Pending Fund Acceptance if required Fund is not Fund Not Accepted Disbursement is not Canceled Disbursement is not Disbursement on Hold Fund is not Pending Re-Evaluation
All Funds	Configured Fund Disbursing Criteria has been met

Note: You add, edit, or disable disbursement criteria using the Disbursements Guide.

Creates disbursement files

Student Financial Planning creates a disbursement file and includes all required data so that the Non-Campus Based Title IV Disbursement is processed correctly through the COD system. For all Non-Campus Based Title IV Funds (excluding IASG), Student Financial Planning creates the proper Common Record file once triggered in the FAS. All required data fields specified in the Common Record layout based on the fund that is ready to be disbursed will be included in the file.

Receives the disbursement response

Student Financial Planning processes a Disbursement Response so that the student's package can be confirmed or updated as necessary. The system performs these tasks:

• Match the Common Record File to the Student's Record using the student's Social Security Number (SSN).
• Verify that the Disbursement File has been accepted by COD.
• Follow the error handling process for any Disbursement files that haven't been accepted.
• Not send the Disbursement Outbound Message until the Disbursement has been accepted.
• Display all Disbursement Responses on the student record.

Evaluates disbursement amounts after repackaging

Student Financial Planning determines the Payment Period Maximum Disbursement Amounts based on the total amount of funding the student is eligible to receive similar to setting the Disbursement Amounts initially.

If the Payment Period Maximum Disbursement Amount is increasing, Student Financial Planning takes additional steps to determine whether the disbursements will be updated. If the fund has not previously received Fund Acceptance from the student or does not require Fund Acceptance, Student Financial Planning increase the Disbursement(s) based on the increased Payment Period Maximum Disbursement Amount. Else, Student Financial Planning does not update the Disbursement until Fund Acceptance for the increased award is received.

If the Payment Period Maximum Disbursement Amount is decreasing, Student Financial Planning decreases the disbursement and does not require additional acceptance.

Updates disbursement amounts when receiving fund acceptance

When Fund Acceptance is received, Student Financial Planning update Disbursement Amounts to reflect the same, increased, or reduced amount accepted by the student and disburse the correct amounts. If the accepted amount is the same, the disbursement amounts aren't required to be updated and will disburse as is.

If the accepted amount is more than the current amount, then the Disbursement Amounts will be increased. Title IV Direct Loans are increased evenly over both Payment Periods. Title IV Grants will be increased to the maximum amount the student will be eligible to receive the first disbursement and the second disbursement will be adjusted to equal the remaining amount. Any Non-Federal Funds or Non-Federal Fund (NFF) Loan or Grant Payment Period Disbursement Amount(s) will be adjusted to equal the Accepted Amount.

If the accepted amount is less than the current amount, then the Disbursement Amounts will be decreased. Student Financial Planning determines the Right to Cancel Deadline and if the deadline has passed, Title IV Direct Loan or TEACH Disbursements associated with the Payment Periods affected by the Fund Acceptance are only decreased to the amount that hasn't already been applied to charges.

• Title IV Direct Loan Disbursements will only decrease that are disbursed less than 120 days from the system date.
• After determining the Payment Period Disbursement Amount, Student Financial Planning needs to decrease the Disbursements.

If the Disbursement Amounts are being adjusted for an NFR fund, Student Financial Planning needs to check whether the fund is a manual NFR and requires the user to communicate the adjustment to an outside FAS.

• If it does, Student Financial Planning creates a task in the Re-Evaluate NFR Fund task queue and set the reason to indicate the student's accepted amount caused the disbursements to be increased or decreased.

If the fund is not accepted, Student Financial Planning cancels future disbursements.

Increases disbursements

Student Financial Planning increases disbursements appropriately based on what has been disbursed so that the disbursement amounts are updated and disbursed correctly.

After increasing the Payment Period Disbursement Amounts, the individual disbursement amounts will require appropriate updates based on whether the disbursements in the Payment Period have already been disbursed. If none of the disbursements associated with the Payment Period have disbursed, the disbursement amount will be increased, and the existing Disbursement and Sequence Numbers will be saved.

If all disbursements have disbursed in the Payment Period, Student Financial Planning creates a new Disbursement Number for the difference of the increased amount and associate that disbursement to the Payment Period in which the original Disbursement is in. The new Disbursement Number will be the next Sequential Number for the Award Year/Loan Period depending on the fund type.

If some disbursements in the Payment Period have been disbursed, Student Financial Planning needs to increase the Disbursement Amount of the Disbursement that is not disbursed for the difference of the increased amount and what has already previously been disbursed.

For all new disbursements created, Student Financial Planning set the Anticipated Disbursement Date to the current date.

For Non-Campus Based Title IV Funds (excluding IASG), Student Financial Planning triggers a new origination to be sent to COD and begin the Re-Origination Process.

Decreases disbursements

Student Financial Planning deceases disbursements appropriately so that the Disbursement Amounts are updated and disbursed correctly.

After decreasing the Payment Period Disbursement Amounts, Student Financial Planning updates the individual Disbursement Amounts appropriately based on whether the disbursements in the Payment Period have already been disbursed. If none of the disbursements associated with the Payment Period have been disbursed, Student Financial Planning decreases the Disbursement amount and doesn't need to create a new Disbursement Number or Sequence Number.

If all the disbursements have already been disbursed in the Payment Period, Student Financial Planning creates a new Sequence Number associated with the highest Disbursement Number for the difference of the decreased amount. The new Sequence Number will be the next Sequential Number associated with the Disbursement Number. If the amount of the highest Disbursement Number is less than the amount that needs to be decreased, Student Financial Planning evaluates the next highest Disbursement Number and continues to decrease the amounts until the total Disbursement Amount is equal to the decreased Payment Period Disbursement Amount.

If some of the disbursements in the Payment Period have been disbursed, Student Financial Planning needs to decrease the highest non-disbursed Disbursement Amount and will not need to create a new Disbursement Number or Sequence Number. If the amount of the highest Disbursement Number is less than the amount that needs to be decreased, Student Financial Planning evaluates the next highest Disbursement Number and continues to decrease the amounts until the total Disbursement amount is equal to the decreased Payment Period Disbursement Amount. Student Financial Planning creates new Sequence Numbers to adjust these amounts only if the Disbursement has been disbursed.

For Non-Campus Based Title IV funds (excluding IASG), Student Financial Planning triggers the Common Record updates to be sent to COD.

For all disbursements that have been disbursed and are being decreased, the Disbursement Process is triggered and Student Financial Planning does not include the total award amount in the file. Once the Disbursement File is accepted, Student Financial Planning triggers the Re-Origination Process Origination Management with the total award amount.

For all Disbursements that have not been disbursed and are being decreased, Student Financial Planning triggers the Re-Origination Process.

Begins the disbursement refund process

Upon the completion of Repackaging or a Return to Title IV (R2T4) Calculation, if a fund needs to be reduced Student Financial Planning begins the disbursement refund process. Additional circumstances that result in this process include when a student denies a fund, accepts less than the amount disbursed, or a user manually repackages a student in order to cancel or decrease a disbursement. If Non-Title IV funds require a reduction of funds, you can manually adjust the fund amounts.

Once a fund has been requested to be reduced Student Financial Planning communicates with COD and then the G5 Process includes any refunded amounts in the net drawdowns for the fund source.

Sends a return to lender message

Student Financial Planning sends a message to external systems as necessary when a previously disbursed payment needs to be returned and/or a Refund Information Web Service Request is received. The Return to Lender Message includes the following information:

• Program Information
• Fund Information
• Academic Year/Payment Period Information or Loan Period /Loan Payment Period Information or Non-Title IV Period Information
• Associated Disbursement/Payment Information
• Refund Information

Updates the loan period date for reduced or canceled funds

Student Financial Planning updates the loan period if the student reduces their second disbursement to zero, in order to update COD accordingly.

Re-opens an award year for returns if granted administrative Relief

Student Financial Planning creates a Task and includes the students with late returns that require an award year to be opened for a closed payment period in order to return funds after the closeout deadline. Once alerted and the request to reopen the award year is granted from COD you can update the closeout date configuration to re-open the award year. After an award year is re-opened, Student Financial Planning repackages the student.

Cancels disbursements

Student Financial Planning cancels future Anticipated Disbursements appropriately so that the disbursement amounts and statuses are updated.

If the Disbursing Engine is being triggered to cancel a future Anticipated Disbursement, Student Financial Planning document the cancellation reason based on the triggering event.

When canceling the disbursement, Student Financial Planning determines whether the fund will be allowed to be subsequently increased. Student Financial Planning allows the fund to be subsequently increased if the system canceled the fund due to the following reasons:

• When the fund is not accepted by the student and was previously not disbursed since the student is allowed to update the Accepted Amount as long as they accept or decline the fund prior to the Fund Acceptance due date.
• When the Award Year is closed prior to the fund being disbursed, since the student may be eligible to receive the fund in the next award year.
• When an R2T4 is calculated or a Post-Withdrawal Disbursement (PWD) is not accepted, since the R2T4 calculation may be subsequently re-ran causing updates to the canceled Disbursements.

When canceling the Disbursement, Student Financial Planning updates the Disbursement Status based on whether the fund requires a COD response. If the fund does not require a COD response, Student Financial Planning updates the Disbursement Status to Disbursement Canceled. Otherwise, Student Financial Planning originates the fund and update the Disbursement Status to Disbursement Canceled once the origination has been accepted.

Sends the cancel future disbursement outbound message

Student Financial Planning send an Outbound Message with all the relevant disbursement information when an awarded fund has a future disbursement and it is canceled. Student Financial Planning includes Disbursement information and the reason that the Disbursement was canceled.

Updates COD

Student Financial Planning creates an updated Common Record file and includes all required data when there are any changes made in a student's package that affect previous Disbursement Amounts or Dates so that Non-Campus Based Title IV funds are processed correctly through COD. Depending on the amount of the total award that was disbursed and whether the amount is being reduced, Student Financial Planning triggers the Disbursement File to include the updated Disbursement Amounts prior to the Origination File with the total awarded amount updated.

Student Financial Planning includes all required data fields specified in the Common Record Layout based on the fund that is being re-originated or included in an updated Disbursement Report. Student Financial Planning includes the updated Disbursement amounts in the Origination and Disbursement Files.

Student Financial Planning populates any updated dates based on date changes in the student's package. the system cannot include updates to Disbursement Dates and the amounts in the same complex element in the Disbursement Tag of the COD Report.

Receives disbursement information web service request

Student Financial Planning receives the Disbursement Information Web Service Request so that Student Financial Planning triggers an Outbound Message with information regarding the student's disbursements:

• Student Financial Planning accepts the Disbursement Information Web Service Request.
• The Disbursement Information Web Service Request will indicate the requested student's IRN.
• For the student listed in the request, Student Financial Planning triggers the Disbursement Information Outbound Message and include all associated Disbursements.

Sends disbursement information outbound message

Student Financial Planning sends a Disbursement Information Outbound Message when any of the following conditions are met and the fund has been configured to send a Disbursement Outbound Message:

• A Disbursement Information Web Service Request is received
• Disbursement Status has been updated to Disbursed
• Disbursement Date is updated
• Anticipated Disbursement Date is updated
• Incremental Disbursement Amount is updated

If the Disbursement Information Outbound Message is triggered due to a Disbursement being disbursed or updated, Student Financial Planning only sends the information related to the specific payment. However, if a Web Service Request is received, Student Financial Planning sends all of the information for all disbursements associated with the student.

Reconciles disbursement dates based on the ledger posting date

Every time a Student Academic and Financial Information (SAFI) message is received, Student Financial Planning reconciles the Disbursement Date with the student's Ledger Posting Date. If the Disbursement Date does not match the Ledger Posting Date, Student Financial Planning updates the Disbursement Date. Student Financial Planning creates a new Sequence Number associated with the disbursement and triggers the updated Disbursement Information to be sent to COD.

Generates disbursement student history entries

Student Financial Planning generates a Student History Entry based upon configured events occurring within the Disbursement Engine in order to provide a historical record of all disbursement activity within the Student Record.

Evaluates loan payment periods for active disbursements

Student Financial Planning evaluates each Loan Payment Period for each Direct Loan Type (Sub/Unsub/PLUS) to see if it can be considered active by checking if there are any disbursements with a Disbursement Status not equal to Disbursement Cancelled. Student Financial Planning communicates which Loan Payment Periods are active for each Direct Loan Type (Sub/Unsub/PLUS) and sends the appropriate Loan Period Dates to the COD system.

Configurable Attributes

Configure Disbursement Dates

You can configure one or multiple anticipated disbursements dates based on the desired schedule for each payment period/term of an academic year.

Configure Disbursement Delays

You can configure how many days the Disbursement will be scheduled after the Payment Period/Loan Period so that the system can update the Disbursement Schedule as necessary. If the institution would like to delay the disbursement as a result of their internal policy, Student Financial Planning ensures all Title IV disbursements are scheduled after this period. The institution can configure the number of days that will be added to the Payment Period/Loan Period to determine the Disbursement Dates for Title IV funds.

Configure Disbursement Criteria

You can configure Disbursement Criteria per fund, and specify student record data, required documents, and conditions dependent on other funds when configuring conditional logic so that the funds will not disburse until all conditions have been met.

Configure and Evaluate Disbursement Criteria Deadline

You can configure a deadline for when all Disbursement Criteria must be met and specify the Number of Days after the Anticipate Disbursement Date for each fund code for the Disbursement. If the Disbursement Criteria is not met after the deadline has passed, Student Financial Planning cancels the disbursement and sends an outbound message to communicate the disbursement has been canceled.

Configure the Right to Cancel Deadline

You can configure the time frame allowed for a student to fully cancel or decrease a Title IV Direct Loans and/or TEACH fund after the Outbound Disbursement Message has been sent without considering any of the conditions in decreasing the award after the deadline has been reached.

The user can set the number of days from when the Outbound Disbursement Message is sent for the fund in which the student can accept a decreased amount or cancel the fund without considering any Right to Cancel conditions. The institution cannot configure less than 14 days since the U.S. Department of Education requires that the student will be able to cancel all funds within 14 days of the Disbursement Date. After that deadline, it is up to the institution's discretion.

Student Financial Planning determines the Right to Cancel Due Date based on the Disbursement Date and the Number of days configured.

Configure the Disbursement Information Outbound Message

You can configure whether Student Financial Planning sends a Disbursement Information Outbound Message to each fund or not. If the user does not configure whether the Disbursement Information Outbound Message will be sent to the fund, Student Financial Planning assumes a Disbursement Information Outbound Message should be sent.

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

See Set General Permissions Matrix for additional information.

Navigation to the Student Financial Planning User Interface Functionality

To view Disbursements

Student Financial Planning User Interface > Student > Financial Information > Disbursing