Automated Refund Approval Percentage and Freeze Date

Using this form, you can configure Anthology Student to present a percentage of the Return to Title IV (R2T4) and Institutional Refund (IR) transactions for manual review and approval before posting the results of the Title IV worksheet. This same configuration can also be used to have Anthology Student automatically approve the R2T4 and IR calculations.

When a transaction review is configured, the percentage indicates the percentage of transactions that are sent for manual review.

A manual transaction review percentage value of zero (0%) at the Program Level means that all transactions are automatically approved by the automated system and posted to the ledger along with transmission to servicers, such as COD, with no manual intervention.

A manual transaction review percentage value of zero (0%) at the Program Version Level appears when the Program Version Level has not been configured for the Refund Calculation. Anthology Student takes the configuration at the parent (Program Level) and handles it the same way.

You can also configure a Freeze Date for existing records by selecting a specific record(s) from the grid and clicking Freeze Date in the toolbar. A pop-up form is displayed where you can define the Freeze date criteria.

You can configure:

  • Freeze Date Period (None, Child Term/Module, Term/Payment Period)

  • Freeze Date Recurrence (Number of Days & Add/Drop Date)

  • Days (required field - maximum value of 0-999)

If you attempt to override the existing configured Freeze Date but a student record has already gathered the data as per the original configured Freeze Date and the Refund Calculation is executed before the newly configured Freeze Date is reached by the student, the following warning message is displayed within the pop-up form: “Note that the R2T4 Freeze Date specifically functions based on the actual date the refund calculation is processed. If the freeze date is updated but the refund calculation is processed before that new freeze date is reached, the previous freeze date will be used.” It is a recommended best practice to maintain the Freeze Date to ensure that no student data is adversely affected by updating the Freeze Date.

Upon configuring a new program or program version, a new section is displayed to enter the Freeze Date for that specific program or program versions. By default, the Freeze Date period is "None". Modifying an existing Freeze Date will cause the previously mentioned warning message to be displayed in the pop-up form where you can choose "OK" or "Cancel" enabling you to confirm the date change or retain the existing date configuration.

Within each record, the R2T4 Freeze Date can be configured once that record is edited by clicking the Campus link. Using this functionality ensures that you can accurately calculate a student's automated refund when it is based on R2T4 Freeze Date guidelines.

Note: Updating R2T4 Freeze Date will be applied only to all the students who enrolled into the selected program versions. This date will be used at the time of R2T4 calculation to determine the number of days scheduled.

Prerequisites

You must have:

  • Common - Configuration - View authorization

  • Financial Aid Automation - Configuration - Automated Awarding Population - Delete, New, Save, and View authorization.

To modify or configure a freeze date, you must have:

  • Financial Aid Automation - Configuration - Automated Refund Approval Percentage and Freeze Date - View authorization

  • Financial Aid Automation - Configuration - Automated Refund Approval Percentage and Freeze Date - Edit authorization

Access Method

Select the Configuration tile > expand Financial Aid > select Automated Refund Calculation Settings > Approval Percentage

Procedure to Modify Refund Approval Percentage and Freeze Date

  1. Specify the desired CampusClosed The campus or campuses to which a person or item is assigned. It is filtered to display the campuses to which you have access. In some cases, it is also used to filter a list to only those items for the campus. In some lists, you can select more than one campus or select All. In lists that display columns, if the column contains more than one campus, you cannot sort or filter on that column. and the grid auto-populates with the associated records.

    Note: Only campuses that are enabled to use SFAAA through process activation are list for selection

  2. Review the displayed records and the following values in the grid.

    Active PopulationClosed Number of students active in this population.

    CampusClosed The campus or campuses to which a person or item is assigned. It is filtered to display the campuses to which you have access. In some cases, it is also used to filter a list to only those items for the campus. In some lists, you can select more than one campus or select All. In lists that display columns, if the column contains more than one campus, you cannot sort or filter on that column.

    Date CreatedClosed The date that is automatically added by the system when the task is created.

    Freeze Date ModifiedClosed This displays the date that the Freeze Date Period, Recurrence, and/or Days is added or updated.

    Freeze Date Modified ByClosed This displays the user who has added or updated the Freeze Date Period, Recurrence, and/or Days.

    Freeze Date PeriodClosed Child Term/Module, Term/Payment Period, or None.

    Freeze Date RecurrenceClosed Number of Days or Add/Drop Date.

    Freeze DaysClosed This shows the number of days that is selected for the Freeze Date Recurrence. This field will not be displayed when Freeze Date Recurrence is chosen as Add/Drop Date, as that is defined on the individual term configurations.

    Percentage Date ModifiedClosed The date and time the percentage was modified.

    Percentage Date Modified ByClosed The user who modified the percentage date.

    ProgramClosed The name of the program. Programs are configured by your institution.

    Program VersionClosed The program version associated with the student or item.

    Review PercentageClosed The desired percentage of the Automated Refund Approval.

    Note: An "Automated Refund Calculation Activated" column will appear displaying Yes or No to show if automated refund calculation is activated at the campus based on the Automated Process Activation.

  3. To delete a population(s), select the check box for the appropriate record(s) and click Delete.

  4. To edit a population record, click the link in the Name column. The Edit Automated Refund Approval Percentage and Freeze Date form is displayed below the grid. Edit the following values:

    CampusClosed The campus or campuses to which a person or item is assigned. It is filtered to display the campuses to which you have access. In some cases, it is also used to filter a list to only those items for the campus. In some lists, you can select more than one campus or select All. In lists that display columns, if the column contains more than one campus, you cannot sort or filter on that column.

    Freeze Date PeriodClosed Child Term/Module, Term/Payment Period, or None.

    ProgramClosed The name of the program. Programs are configured by your institution.

    Program VersionClosed The program version associated with the student or item.

    Transactions to Manually Review Percentage ValueClosed Input the percentage for the manual review of the Auto Refund.

    Note: Campus and Program are non-configurable during an Edit.

  5. To create a population record, click New in the toolbar. The New Automated Refund Approval Percentage and Freeze Date form is displayed below the grid. Make entries for the following values:

    CampusClosed The campus or campuses to which a person or item is assigned. It is filtered to display the campuses to which you have access. In some cases, it is also used to filter a list to only those items for the campus. In some lists, you can select more than one campus or select All. In lists that display columns, if the column contains more than one campus, you cannot sort or filter on that column.

    Freeze Date PeriodClosed Child Term/Module, Term/Payment Period, or None.

    ProgramClosed The name of the program. Programs are configured by your institution.

    Program VersionClosed The program version associated with the student or item.

    Transactions to Manually Review Percentage ValueClosed Input the percentage for the manual review of the Auto Refund.

    Note: When creating a New record, when multiple campuses, programs, and program versions are selected, all the settings on the form will be applied to all selected campuses, programs, and program versions. An individual record will be created for each variation only if the Assignment has been created.

  6. To enter a Freeze Date for a population(s), select the check box(s) for the appropriate record(s) and click Freeze Date in the toolbar. The Assign R2T4 Freeze Date form is displayed. Make entries for the following values:

    CampusesClosed The campus or campuses to which a person or item is assigned. It is filtered to display the campuses to which you have access. In some cases, it is also used to filter a list to only those items for the campus. In some lists, you can select more than one campus or select All. In lists that display columns, if the column contains more than one campus, you cannot sort or filter on that column. (Displays how many are selected to Freeze)

    DaysClosed Value of 0-999.

    Freeze Date PeriodClosed Child Term/Module, Term/Payment Period, or None.

    Freeze Date RecurrenceClosed Number of Days or Add/Drop Date.

    Click Assign or Cancel.

    Note: To remove the Freeze Date Period and its Recurrence completely, simply set Freeze Date Period to None.

  7. To modify the transaction percentage for a single or multiple populations, select the appropriate record(s) and click Transaction Percentage in the toolbar. The Assign R2T4 Transaction Percentage form is displayed. Make entries for the following values:

    Transactions to Manually Review Percentage ValueClosed Select Yes or No.

     

    Click Assign or Cancel.

  8. After creating a new population or editing an existing population,

    If you want to save and: 

    • Continue making changes, click the Save button

    • Continue to add another item to the list, click the Save & New button

    • Close, click the Save & Close button

  9. To close the New/Edit Automated Awarding Population form, click Cancel.