|
Actual Disbursement Date Specify the actual date of disbursement.
Authorized FAA official Specify the name of the Financial Aid Administrator for Direct Loans. This name will be included in loan manifests sent to the Department of Education.
Auto create Disbursement Date Adjustments after payments have posted to ledger card Select the check box if you want the system to compare Direct Loan scheduled payment dates and the actual paid dates.
For additional information, see Background for Direct Loans.
Auto create Loan Period Origination Changes when student Withdraws or Refund is posted Select the check box to automatically create Origination changes for the Loan Period End Date. This setting applies to Direct Loans that have an Origination status of Accepted or Batched to Send.
For additional information, see Background for Direct Loans.
Auto create Origination Changes/Adjustments for cancelled disbursements/refunds Select the check box to automatically create origination changes for canceled disbursements and loan amounts when a student is moved to a Permanent Out category.
Automatically update Origination Status to Ready to Send Select the check box to automatically promote the origination status from Not Ready to Ready to Send when a valid ISIR is on file for the student and the Direct Loan is in an Approved status.
For additional information, see Background for Direct Loans.
Cancel loan when loan dates are invalid Select the check box to allow the Student Pace Evaluation (SPE) feature to cancel a Direct Loan or any remaining scheduled disbursements of the Direct Loan when the SPE update causes the loan’s BBAY start date to be later than the Award Year’s end date or when the SPE update causes the BBAY end date to be earlier than the Award Year’s start date.
Do you perform drawdown requests Select the check box if your institution uses drawdown requests for Direct Loans.
Create origination changes when loan dates are updated Select this check box to have the system automatically create Origination Changes when Academic Year and Loan Period dates are updated due to Academic related activities. After you select this option, choose 'Always create' or 'Create when award is fully paid'.
|
Enable Multi-Year MPN Select the check box to enable the multi-year master promissory note (MPN) feature.
Include Ready to Pay Disbursement (Option 1 schools only) Select the check box if this option is applicable to your institution.
Include Schedule Disbursement (Option 1 schools only) Select the check box to include scheduled disbursements in the disbursement export file.
If you select to export scheduled disbursements, the system selects disbursements that are scheduled up to seven (7) days before the disbursement or thirty (30) days after the date of the export.
Minimum number of disbursements per loan Specify the minimum number of disbursements per loan.
MPN print option Select a Master Promissory Note (MPN) print option.
The options are: Print prom notes at school site; COD Prints and Sends to Borrower; COD Prints and Sends to School; COD Reprints and Sends to Borrower; COD Reprints and Sends to School.
Number of MPN to print Specify the number of the Master Promissory Note (MPN) to print.
Print disclosure statements at COD Select the check box if you want your disclosure statements to be printed at COD.
Re-Originate PELL when anticipated disbursement dates are updated Select the check box if you want to re-originate Pell when anticipated disbursement dates are updated (if the disbursement has not been released to COD). For non-term institutions (Academic Calendars 5 and 6), the system automatically sets the Origination Status of an originated Pell award from Accepted or Batched to Send to Ready to Send when the anticipated disbursement date is updated by the Student Pace Evaluation (SPE) tool.
|
