Financial Aid Requirements

Requirement Number

Requirement

R474 A financial aid instance is required in order to process any financial assistance for a student, including but not limited to merit, need-based, sponsored scholarships or assistance, external awards, tuition exemptions, waivers, fellowships, etc. An instance is required for each award year/academic period during which a student is enrolled and receiving financial aid. Award years begin each year on July 1 and end on the following June 30. Academic periods within the award year consist of a Summer (header), Fall, and Spring term during which a student is enrolled. Financial aid instance creation for an admitted applicant or continuing student with an ISIR load received from the Department of Education (ED) Federal Student Aid Office (FAS) matched to an existing student at LSU.  NOTE: Only matched students need to be created as long as applicants listing LSU on FAFSA but not applied can be identified
R475 Remain current with federal requirements (COD files)
R477 Configure the calculation engine to determine costs, award amounts, eligibility & conditions for federal aid and the ability to create a cost of attendance for any student not just federal aid students. Seperate out COD
R478 Remain current with federal requirements (ISIR, Pell Grants)
R479 Incorporate Department of Education (DOE) "repeat rules" into financial aid load calculations (This is different than the institutional repeat policy rules).
R480 Have the ability in the future to use Borrower-Based Academic Year (BBAY) for online program. Currently we are using SAY.
R481 Extract data needed to complete the Fiscal Operations Report and Application to Participate (FISAP) report annually.
R482 Allow to scan and store financial aid documents such as: Verification documents
R483 Allow to scan and store financial aid documents such as: SAP appeal forms, graduate PLUS and Parent PLUS loan applications.
R484 Assign financial aid action items (e.g., submit an institutional verification form) that students might need to complete for verification, packaging and disbursement. We request approximately 49 unique items from students.
R485 Assign financial aid action items (e.g., write a thank you letter) that students might need to complete for verification, packaging and disbursement. We request approximately 49 unique items from students.
R486 Assign financial aid action items automatically when loading Institutional Student Information Records (ISIRs) (AKA FAFSA) or manually as needed.
R487 Assign holds (e.g., Disbursement, ISIR Review, Packaging) to action items as appropriate.
R488 Assign financial aid action items (e.g., submit a federal tax transcript) that students might need to complete for verification, packaging and disbursement. We request approximately 49 unique items from students.
R489 Create and assign a "To Do" checklist based on specific requirements.
R490 Allow documents to be required based on time criteria.
R491 Require new verification documents for each new award year.
R492 Route tasks for financial aid action items to financial aid counselors or the Inbox of students.
R493 Allow students and administrators to upload documents to support federal and institutional verification.
R494 Allow students to submit required documents from the inbox.
R495 Review action items for completion.  Approve the item or send it back to the student for additional information or clarification.
R496 Load Institutional Student Information Records (ISIRs), determine what verification documents need to be requested, and notify student.  Determine if ISIR is rejected and send email detailing how student should resolve.
R497 Package student if Institutional Student Information Records (ISIRs) is valid and verification is not needed.  That is, based on criteria, auto-package with no manual intervention required.
R498 Support inbound and outbound integrations for Institutional Student Information Records (ISIR) loads and ISIR correction processing.
R499 The ability for the system to determine based on data entry what records need to be sent to the DOE for corrections.
R500 Support inbound and outbound integrations for Institutional Student Information Records (ISIR) loads and ISIR correction processing. Maintain ISIR transactions separately. Currently, there are approximately 40,000 ISIR records handled per year.
R501 Associate ISIRs with students. Consider the student aid report ID (SAR ID) that includes the Original Social Security Number and Original Name ID.
R502 Trigger the Match and Merge process when the integration doesn't find a student or applicant who has an ISIR with the same student aid report ID (SAR ID) .
R503 Add the prospect and their ISIR to the system if no other existing application or recruitment information is found.
R504 Detect and transmit correction records to the Central Processing System (CPS) for reprocessing. The CPS manages the application and eligibility determination portion of the federal student aid process. It gathers information from applicants via the Free Application for Federal Student Aid (FAFSA®), applies computerized edits and calculations to determine the student’s eligibility, and communicates the results to the students, schools, state agencies, third-party servicers, and other federal computer systems.
R505 Schedule a daily routine that pulls and posts Institutional Student Information Records (ISIR's) to/from the Department of Education Student Aid Internet Gateway (SAIG).
R506 Simulate Institutional Student Information Records (ISIRs) corrections and re-calculate the Federal Methodology (FM) Expected Family Contribution (EFC) without submitting changes.
R507 Create costs items for tuition, books, and other expenses that can be used to determine Cost of Attendance (COA).
R508 Calculate a student's Cost of Attendance (COA) for one or more academic periods in the same financial aid award year. COA is taken into account for need-based awards and for merit-based awards tha require COA.
R509 Assign and update Cost of Attendance (COA) values to specific cohorts in mass.
R510 Calculate load based on a student's total enrollment including units from external institutions. (ie Capture units taken at local community colleges)
R511 Calculate the expected family contribution for students using the Federal Methodology calculation.
R512 Allow counselors to perform Professional Judgement, Dependency Overrides, Cost of Attendance adjustments and ability to add additional cost field for Cost of Attendance..
R513 Set attendance plans by cohort and cost of attendance (COA)
R514 Capture cross enrolled courses and consider those hours when awarding and disbursing financial aid and scholarships
R515 Batch awards report needs to run at the same time due to convenience and neccesity
R516 Support for low-interest federal student loans (Perkins Loans) available to undergraduate and graduate students with exceptional financial need if program is extended pay September 2017.
R517 Package financial aid daily based on pre-assigned schedule for students for selected academic periods in a financial aid award year. Consider need-based awards and merit awards.
R518 Implement a financial aid packaging process that selects students based on specified criteria; identifies the appropriate award packaging strategy for each student; determines the academic periods and awards to process; evaluates eligibility; assigns financial aid action items; calculates an award amount; calculates an anticipated award disbursement amount; sets the award status; and, displays anticipated disbursements based on display rules.
R519 Automatically create a financial aid award package for students when they meet specified criteria that is based on the student's status, program of study, academic level (undergraduate, graduate, etc) or other attributes that would be used to identify students as ready to be awarded.
R520 Allow a student's financial aid award package to be re-packaged as often as needed for individual students when their criteria change, such as their applicant status, program of study, academic level (undergraduate, graduate, etc), enrollment status, student overawarded or other conditions that would be used to identify students requiring repackaging of their award.
R521 Create a new instance of the package result if the student has a new award item, an award item has been removed or changed, or there's a change in the COA, Pell COA, and EFC amounts. Adjust disbursement amounts when an award amount changes and reflect adjustments in the student account. Adjust COD origination and disbursement data.
R522 Create packaging strategies that combine award items for processing and establishes the order used to create the award package.
R523 Assign packaging strategies to specific populations using user defined selection criteria.or rules.
R524 Allow the creation of financial aid award packages per student automatically. Send emails and award letters.
R525 Process/package Teach Grants with the ability to load responses and acknowledgements to trigger disbursements. Currently, there are approximately 12-20 students per year.
R526 Assess financial need to a student.
R527 Calculate aid award amount
R528 Allow to make changes to a loan that has been disbursed.
R529 Assign expiration dates to student awards (multi-year scholarships)
R530 Create awards for prior award years and adjust subsequent awards based on the new need amounts
R531 Define by award if the award needs to be accepted or declined or if the award should be auto accepted
R532 Establish scholarship rules for entering freshman and a process that will automatically award all eligible students, even students without an ISIR. Route all campus scholarships to the Financial Aid office prior to releasing to a student.
R533 Access and display external scholarships
R534 Allow for seamless integration and communication of admissions, financial aid, bursar, registrar information and external scholarships into the student's profile, loan/award package and bills.
R535 Notify and send a report to a financial aid counselor based on defined criteria changes (e.g. Students in overaward, denied PLUS Loans, etc)
R536 Maintain the Taylor Opportunity Program (TOPS) for a specified academic term and determine eligible students based on defined criteria by the state.
R537 Send a weekly invoice file to their office and receive a weekly payment file for TOPS.
R538 Build an integration to load a master file from TOPS. The Taylor Opportunity Program (TOPS)  is our state grant scholarship awarded to over 14,000 students annually at LSU. The University has significant reports built around the data on the Master file to determines students eligibility.
R539 Support scholarships and awards restricted to a particular field of study;offered through individual colleges; and, sponsored by the LSU Foundation or the LSU Alumni Association.
R540 Allow departments to create reports to identify those students that are eligible for scholarship awards.
R541 Allow departments to submit/add Awards(scholarships) directly to students financial aid package and require additional approvals.  These awards should not be visible to the student until the financial aid office or an automatic process determines if the student is not in an overaward status.
R542 Support the Federal Work Study program that provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program requires 7% of funding to occur through community service work.
R543 Allow reporting of federal work study (FWS) amounts and provide updated balances as a result of student's semester timesheets.
R544 Receive a report of community service spending for workstudy.
R545 Allow students to select a Federal Work Study (FWS) job or submit a job preference if awarded FWS
R546 Consider whether credit balances can be refunded; and, which items to cover in what order.
R547 Create and maintain disbursement schedules & eligibility rules for showing anticipated awards.
R548 Disburse financial aid to one or more student accounts based on the disbursement schedule for the student award item. Reevaluate student eligibility for the disbursement before applying it to charges in student accounts.
R549 Create student award items that are disbursable. Consider eligibility requirements; disbursement rules;
R550 Identify the financial aid award year and academic periods  when disbursing financial aid and target disbursements to students, academic units, academic level, programs of study and student award items as appropriate.
R551 Implement a disbursement process that finds packaged student awards; determines which disbursements to make; applies disbursements to charges based on precedence rules; reduces anticipated payments by the amount disbursed; and reports on disbursements that exceed a student's charges.
R552 Determine which disbursements to make by confirming that the anticipated disbursement date is on or before the current date; the student meets disbursement eligibility criteria and there is no disbursement hold.
R553 Automatically adjust anticipated or actual disbursement amounts when a student award is repackaged after an award amount changes.
R554 Define rules that validate an award's eligibility to be disbursed to a student prior to disbursing those funds.
R555 Configure disbursement dates to release disbursements beginning ten days prior to the term start date.
R556 Enable holds to be placed on disbursement posting when requirements have not been met (e..g missing Master Promissory Note (MPN), missing entrance interview, missing attendance commitment, etc.
R557 Allow for undisbursed funds to display as anticipated aid when creating a student award item or sponsor contract.  Continue to display anticipated aid until funds are disbursed or the anticipated aid time period has expired. Designate at the award level whether the award will be an anticipated credit on the fee bill
R558 Create file of grant & loan disbursements from the  U.S. Department of Education's Common Origination and Disbursement (COD) System.
R559 Access/view Common Origination and Disbursement (COD) reports.
R560 Process Private/Alternative Loans via integration with ScholarNet® (Great Lakes Higher Education Corp)
R561 Allow the system to enforce "accept" of sub loan before allowing "accept" of an unsub loan
R562 Provide the ability to hold off on sending direct loan originations for spring terms only loans anticipating loan fees may be adjusted.
R563 Make multiple corrections to an award on the same
R564 Backout/cancel a change to a loan(prior to origination).
R565 Automate process for calculating Return of Title IV Funds (R2T4).
R566 Develop a process to ensure a student has begun attendance in all courses in which title IV funding is being disbursed.  This is a regulation for all schools even schools who are not required to take attendance.
R567 Develop a process to ensure a student is only paid Title IV funding for courses that are required for their major
R568 Recalculate Title IV Loan Fees for existing loan awards on individual students and in batch when Department of Education (DOE) changes rates.
R569 Determine whether a student is meeting the satisfactory academic progress (SAP) standards for receiving financial aid.  Consider satisfactory academic progress status; cumulative progress for each standard; period-specific progress fore each status; and, pass/failed.
R570 Create and establish Scholastic Academic Progress (SAP) rules for receiving financial aid (qualitative GPA, Quantitative pace %, Maximum timeframe %)
R571 Configure and evaluate the degree program's maximum timeframe length/percentage for individual programs for use in Satisfactory Academic Progress calculation. Set up degree programs with a thesis and those withouth a thesis in a unique way to ensure SAP can be calculated correctly. Evaluations are done every term.
R572 Notify students, that are receiving financial aid and drop below full time enrollment, that their financial aid may be impacted.
R573 Update Satisfactory Academic Progress (SAP) status (i.e. indicate that a student has been placed on an academic plan).  Consider the following statuses: cancellation, ineligible, prior suspension, suspension, and warning, passing, passing on a grade/load plan, passing on a max timeframe plan
R574 Allow students to appeal Satisfactory Academic Progress (SAP) status through self service.
R575 Create a Satisfactory Academic Progress (SAP) plan for academic advisors to complete that programmatically determines the number of hours and the gpa a student needs to attain to reach the published SAP policy or graduation.
R576 Allow counselors to view a student's courses for a specified term to determine if those courses are part of their academic plan.
R577 Create a process to evaluate a students Satisfactory Academic Progress (SAP) plan and send e-notices to the student regarding their SAP status.
R578 Allow counselors to view previous versons of a student's SAP results (i.e., view SAP progress history).
R579 Capture a student's "Last Date of Attendance" and/or "Last Date of Contact".  This is needed to determine how much aid has been earned by a student that has unofficially withdrawn or resigned from the university. (e.g., unofficial withdrawal may be some combination of all grades Fs, all Withdrawals or all Incompletes at the end of term).
R580 Ability to do state mandated reporting
R581 Create a file of students who have completed a FAFSA and received financial aid or scholarship awards in a given financial aid year. This file is known as the FADS file and is sent to the Board of Regents (BoR)
R582 Enable access to comprehensive financial aid information, allowing student to search for and access information about scholarship and fellowship packages
R583 Enable self-service for students to view financial aid offers, accept or decline aid, and take other actions.
R584 Capture parent mailing address and email address
R585 Develop and provide access to 'what-if' tools to analyze impact of changes in financial and academic status.  Should include on-line context sensitive help documentation and online tutorials.