Configurable Loan Period Award Year Selection

Welcome to the demo of the 24D configuring loan period award year selection rules feature in Oracle Student Financial Aid. We will be improving the Direct Loan fund calculations to better align with institutional policies, but introducing a new configuration column in the PKGSCHEDATTRIB.csv workbook to define which award year will be selected for all Direct Loans when the loan period is a cross-over between two aid years. This new script applies to all direct loan funds (subsidized loans, unsubsidized loans, UNSUB medical, PLUS and Graduate PLUS loans), as well as all academic models, term and non-term.

Prior to 24D, customers were required to manually intervene to update the award year for direct loans in the cases that a program contained an academic year start prior to the July 1st aid year cross-over date when the desired aid year was the upcoming award year and not the current one, as the system contained hardcoded loan period aid year selection rules to determine the award year. Schools will be able to opt-in to the feature by importing scripted rules within the new configuration column. To ensure that existing awards are not impacted by the feature enablement, it is recommended to establish an effective date for the configuration within the script itself to ensure the evaluation is completed on an going forward basis. If the column is blank or the output result is null, the system will default to the existing aid year selection rules for the direct loan period.

Additionally, existing bindings in the scripting API have been enhanced with new types and methods to allow the selected loan period award year to be accessed when applicable, such as through Non-Federal Fund scripts if the award year selected is required to match Title IV loans.

The new Configurable Loan Period Award Year selection configuration will reduce manual intervention and improve system accuracy and automation.

This demo shows you how Configurable Loan Period Award Year Selection enhances your business. Let's start on the PKGSCHEDATTRIB.csv workbook. A new groovy Direct_Loan_Crossover_LP_AwY_Selection column has been included in the workbook.

Our baseline configuration example configuration contains an effective date to enable the feature going-forward. If the Loan Period start date is prior to 07/01/24, return null. As another stop gap to prevent changes to existing loans, the system will maintain the aid year selected when disbursements have been disbursed. The configuration also contains a rule that if the academic year contains a summer header, select the upcoming award year for the cross-over loan period.

We have also provided an additional example script in the baseline to describe the new ability to access the loan period aid year within the scripting API. Here periods script for the AZLP fund code has been updated to select the award year based on the selected Title IV loan period overlapping the NFF period.

Now I will be displaying our student to view this new configuration within the application. Our student contains an academic year with a summer header crossing over the award year 23/24 and 24/25.

Previously, the 23/24 aid year would be selected for Direct Loans, but with the scripted rules, the upcoming 24/25 aid year will be selected.

Selecting the fund eligibility information for the Subsidized fund code, 2024-2025 displays in the Award Year row under the Fund Information per Loan Period section.

This completes the demo. Thank you.