||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
||Remain current with federal requirements (COD files)
||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
||Remain current with federal requirements (ISIR, Pell Grants)
||Incorporate Department of Education (DOE) "repeat rules" into financial aid load calculations
(This is different than the institutional repeat policy rules).
||Have the ability in the future to use Borrower-Based Academic Year (BBAY) for online
program. Currently we are using SAY.
||Extract data needed to complete the Fiscal Operations Report and Application to Participate
(FISAP) report annually.
||Allow to scan and store financial aid documents such as: Verification documents
||Allow to scan and store financial aid documents such as: SAP appeal forms, graduate
PLUS and Parent PLUS loan applications.
||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.
||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.
||Assign financial aid action items automatically when loading Institutional Student
Information Records (ISIRs) (AKA FAFSA) or manually as needed.
||Assign holds (e.g., Disbursement, ISIR Review, Packaging) to action items as appropriate.
||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.
||Create and assign a "To Do" checklist based on specific requirements.
||Allow documents to be required based on time criteria.
||Require new verification documents for each new award year.
||Route tasks for financial aid action items to financial aid counselors or the Inbox
||Allow students and administrators to upload documents to support federal and institutional
||Allow students to submit required documents from the inbox.
||Review action items for completion. Approve the item or send it back to the student
for additional information or clarification.
||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.
||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
||Support inbound and outbound integrations for Institutional Student Information Records
(ISIR) loads and ISIR correction processing.
||The ability for the system to determine based on data entry what records need to be
sent to the DOE for corrections.
||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.
||Associate ISIRs with students. Consider the student aid report ID (SAR ID) that includes
the Original Social Security Number and Original Name ID.
||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) .
||Add the prospect and their ISIR to the system if no other existing application or
recruitment information is found.
||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
||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).
||Simulate Institutional Student Information Records (ISIRs) corrections and re-calculate
the Federal Methodology (FM) Expected Family Contribution (EFC) without submitting
||Create costs items for tuition, books, and other expenses that can be used to determine
Cost of Attendance (COA).
||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.
||Assign and update Cost of Attendance (COA) values to specific cohorts in mass.
||Calculate load based on a student's total enrollment including units from external
institutions. (ie Capture units taken at local community colleges)
||Calculate the expected family contribution for students using the Federal Methodology
||Allow counselors to perform Professional Judgement, Dependency Overrides, Cost of
Attendance adjustments and ability to add additional cost field for Cost of Attendance..
||Set attendance plans by cohort and cost of attendance (COA)
||Capture cross enrolled courses and consider those hours when awarding and disbursing
financial aid and scholarships
||Batch awards report needs to run at the same time due to convenience and neccesity
||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
||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
||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
||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.
||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.
||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.
||Create packaging strategies that combine award items for processing and establishes
the order used to create the award package.
||Assign packaging strategies to specific populations using user defined selection criteria.or
||Allow the creation of financial aid award packages per student automatically. Send
emails and award letters.
||Process/package Teach Grants with the ability to load responses and acknowledgements
to trigger disbursements. Currently, there are approximately 12-20 students per year.
||Assess financial need to a student.
||Calculate aid award amount
||Allow to make changes to a loan that has been disbursed.
||Assign expiration dates to student awards (multi-year scholarships)
||Create awards for prior award years and adjust subsequent awards based on the new
||Define by award if the award needs to be accepted or declined or if the award should
be auto accepted
||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.
||Access and display external scholarships
||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.
||Notify and send a report to a financial aid counselor based on defined criteria changes
(e.g. Students in overaward, denied PLUS Loans, etc)
||Maintain the Taylor Opportunity Program (TOPS) for a specified academic term and determine
eligible students based on defined criteria by the state.
||Send a weekly invoice file to their office and receive a weekly payment file for TOPS.
||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.
||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
||Allow departments to create reports to identify those students that are eligible for
||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.
||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
||Allow reporting of federal work study (FWS) amounts and provide updated balances as
a result of student's semester timesheets.
||Receive a report of community service spending for workstudy.
||Allow students to select a Federal Work Study (FWS) job or submit a job preference
if awarded FWS
||Consider whether credit balances can be refunded; and, which items to cover in what
||Create and maintain disbursement schedules & eligibility rules for showing anticipated
||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.
||Create student award items that are disbursable. Consider eligibility requirements;
||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.
||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.
||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.
||Automatically adjust anticipated or actual disbursement amounts when a student award
is repackaged after an award amount changes.
||Define rules that validate an award's eligibility to be disbursed to a student prior
to disbursing those funds.
||Configure disbursement dates to release disbursements beginning ten days prior to
the term start date.
||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.
||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
||Create file of grant & loan disbursements from the U.S. Department of Education's
Common Origination and Disbursement (COD) System.
||Access/view Common Origination and Disbursement (COD) reports.
||Process Private/Alternative Loans via integration with ScholarNet® (Great Lakes Higher
||Allow the system to enforce "accept" of sub loan before allowing "accept" of an unsub
||Provide the ability to hold off on sending direct loan originations for spring terms
only loans anticipating loan fees may be adjusted.
||Make multiple corrections to an award on the same
||Backout/cancel a change to a loan(prior to origination).
||Automate process for calculating Return of Title IV Funds (R2T4).
||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.
||Develop a process to ensure a student is only paid Title IV funding for courses that
are required for their major
||Recalculate Title IV Loan Fees for existing loan awards on individual students and
in batch when Department of Education (DOE) changes rates.
||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.
||Create and establish Scholastic Academic Progress (SAP) rules for receiving financial
aid (qualitative GPA, Quantitative pace %, Maximum timeframe %)
||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.
||Notify students, that are receiving financial aid and drop below full time enrollment,
that their financial aid may be impacted.
||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
||Allow students to appeal Satisfactory Academic Progress (SAP) status through self
||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.
||Allow counselors to view a student's courses for a specified term to determine if
those courses are part of their academic plan.
||Create a process to evaluate a students Satisfactory Academic Progress (SAP) plan
and send e-notices to the student regarding their SAP status.
||Allow counselors to view previous versons of a student's SAP results (i.e., view SAP
||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).
||Ability to do state mandated reporting
||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)
||Enable access to comprehensive financial aid information, allowing student to search
for and access information about scholarship and fellowship packages
||Enable self-service for students to view financial aid offers, accept or decline aid,
and take other actions.
||Capture parent mailing address and email address
||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.