Add Loan Periods (Non-Term Program Versions Only)

You can use the Loan Periods tab on the Awarding page to: 

  • Add loan period (LP) sequences for non-term program versions (Loan periods for term programs are built using the term associations.) 

  • Review the budgets for the loan periods that are based on the budget you selected or specified on the Academic Years tab

  • Only loan periods that start on or after the date the "Allow Extended Budget" advanced feature is enabled will be presented with the extended budget view

You can add the sequences manually or have Anthology Student automatically create the sequences using the academic years you specified on the Academic Years tab. 

If the selected loan period is an overlapping loan period, a message on the Loan Periods form indicates that the selected loan period sequence is an overlapping loan period. The date range of overlapping is static and they are not updated by the SPE (Student Pace Evaluation) tool.

The grid shows the items for the program version of the current enrollment (if any). Use the Program Version drop-down to change the program version. You cannot select All Program Versions.

You should be familiar with the Background for All Financial Aid.

Prerequisites

You must have:

  • Common - Student - View authorization

  • Financial Aid - Loan Periods - New authorization

You must have completed the Academic Years tab. See the topic Add Academic Year Sequences.

If the student received financial aid from a previous institution, you should use the NSLDS tile to add the NSLDS award information before you use the Awarding tile to award aid so that Anthology Student can determine if there are overlapping loan periods and validate the awards. For more information, see Background for NSLDS and Overlapping Loans.

The program version for the student must be configured to use one of the following academic calendars.

  • Clock hours

  • Credit hours without terms

  • Non-standard terms and not SE9W (Refer to the FSA handbook for additional information about this academic calendar.)

The program version must not be using a servicer to process financial aid (such as Global Financial Services).

Access Method

Select the Students tile > select the name in the Students list > expand Financial Aid > select the Awarding tile > Loan Periods tab.

Procedure to Add Loan Period Sequences

Loan period sequences should not overlap.

  1. Select the New button.

  2. If you want to: 

    • Have Anthology Student create the sequences based on the configuration for the program version, select the Automatic button.

    • Manually create the sequences, select the Manual Entry button (If no sequences are configured for the program version, you will also have to manually create the sequences.)

  1. Specify or edit the information for the loan period. The fields that are displayed will depend on the academic calendar configuration for the program version.

    Award Year 1Closed The first award year in the academic year.

    Award Year 2Closed The second award year for the sequence. The field is optional. Anthology Student only requires a completed FAFSA for the first award year to package an academic year. In some cases, a student can submit documents for both award years 1 and 2 in the same academic year (crossover students). You can have 2 award years and packaging statuses, so that you can manage both in the same academic year.

    BBAY End DateClosed The start date or the borrower-based academic year (BBAY). When combined with the value for BBAY Start Date, it represents a full academic year. The date is independent of the end date for the loan period. For overlapping loans, the value is always the end date for the loan at the previous institution.

    BBAY Start Date Closed The start date of the borrower-based academic year (BBAY). With the BBAY end date, it represents a full academic year. The date is independent of start date for the loan period. For overlapping loans, the BBAY Start Date depends on the value for Previous Academic Year Week on the NSLDS page. If it is greater than or equal to the minimum full year definition of 30, the start date is the loan start date at the previous institution. If it is less than or equal to 30, the start date is calculated using the formula (BBAY End Date – previous institution academic year weeks) + 1 day.

    Credit Hours Expected to Complete Closed If the program was configured to use an academic calendar that uses clock or credit hours, the number that the student is expected to complete in this sequence.

    Credit Hours in Loan PeriodClosed If the program was configured to use an academic calendar that uses clock or credit hours, the number of credits or hours in this sequence or payment period. It represents the number that the student should attend for the sequence that you selected. The total of all sequences must equal the credit or hours for a full academic year or loan period. Anthology Student displays a message if the value you specify does not match the values Anthology Student determined are needed to complete the program.

    Dependency Status Closed Indicates whether a student is dependent, independent, or undetermined. The field displays the status from the student's FAFSA or ISIR. If you add a Federal Direct Parent Loan for Undergraduate Students (PLUS) loan or Federal Family Education Loan (FFEL) as a fund source and the status is undetermined, Anthology Student displays a message asking you if you want to change the student to a dependent.

    End DateClosed The end date of the sequence. For the first sequence, Anthology Student defaults to a date calculated from the enrollment date for the student plus the number of weeks in the academic year or loan period. The end date of the second and subsequent academic years are estimated using the number of weeks in the academic year or loan period and the number of weeks not enrolled. If your institution configured calendars, holidays are added to the calculation of the end date of the sequence. If needed, you can change the estimated date on the Academic Years tab. For loan periods in most cases, the date should not be after the graduation date. For loan periods, the end date must be between the start and end dates for the Borrower-Based Academic Year (BBAY).

    First Time Borrower Closed The First Time Borrower flag is automatically selected when a student is enrolled and the Grade Level set during enrollment is "1st year, never attended college". Otherwise, the flag is not automatically selected. When selected, specifies that the student is a first time borrower and that you want to delay the first loan disbursement by xx number of days from the start date of the academic year that your institution has configured for financial aid packaging.

    Grade LevelClosed The grade level for the student. Grade levels are configured by your institution and do not have to correspond to the option on the FAFSA or Stafford loan forms. The grade level is assigned to a student under Academic Records > Enrollment > Progress section. For a student to qualify for federal financial aid, a college grade level (1st year, 2nd year, etc.) must be assigned. For a Graduate PLUS loan, the grade level must be configured with the Department of Education ID 7 (Graduate/Professional or beyond).

    Hours Expected to CompleteClosed If the program was configured to use an academic calendar that uses clock or credit hours, the number that the student is expected to complete in this sequence.

    Hours in Loan PeriodClosed If the program was configured to use an academic calendar that uses clock or credit hours, the number of credits or hours in this sequence or payment period. It represents the number that the student should attend for the sequence that you selected. The total of all sequences must equal the credit or hours for a full academic year or loan period. Anthology Student displays a message if the value you specify does not match the values Anthology Student determined are needed to complete the program.

    HousingClosed The housing for the student. If a student has an ISIR that matches the award year 1 value, the housing status will be set to the housing status of the ISIR when the system automatically adds an academic year or a staff member adds an academic year. The choices are On Campus, Off Campus, and With Parent. Your institution can configure budgets associated with the housing for a student so that the value for Room and Board is added when you select a value in the Budget list. If you change the value after calculating the budget, Anthology Student displays a message asking you if you want to recalculate the budget using the new housing status.

    Instructional MonthsClosed The number of instructional months (IM) that occur within the date range of the sequence. Anthology Student divides the value by 4.333. If the result contains a decimal of .5 or higher, the months are rounded up. Otherwise, it is rounded down. The field is displayed if the program version is configured to use an academic calendar that uses clock hours or credit hours without terms and the program is configured to auto recalculate budgets and the academic year is configured to use monthly amounts and the calculation method uses the amounts entered here. If you change the value for Instructional Weeks in LP, the value is automatically recalculated, but you must select the Recalculate Budget to recalculate the budget using the new value.

    Instructional Weeks in LP Closed The number of instructional weeks (IW) that occur within the date range of the sequence. Anthology Student uses the value to calculate the value in the Instructional Months field. The field is displayed if the program version is configured to use an academic calendar that uses clock hours or credit hours without terms and the program is configured to auto recalculate budgets and the academic year is configured to use monthly amounts and the calculation method uses the amounts entered here. It can be different from the calendar weeks for the sequence. It should never be less than Weeks in Academic Year field. For some patterns of course registration, it can be greater than the Weeks in Academic Year field, but it cannot be greater if the Student Pace Evaluation (SPE) tool is used projection is used for Satisfactory Academic Progress (SAP).

    Re-entry > 180 Loan PeriodClosed When selected, the student re-entered the program version after being out for more than 180 days from the NSLDS withdrawal date. When selected, Anthology Student sets the start date for the first sequence without estimated or approved financial aid to the re-entry date on the program version. If the student is enrolled in a program version that is configured to use an academic calendar that uses clock hours or credit hours without terms, the Student Pace Evaluation (SPE) tool will also then monitor the progress of the student through the remaining time in the program.

    Months in Loan PeriodClosed The number of months in the loan period.

    Start DateClosed The start date of the sequence. For the first sequence, Anthology Student defaults to the start date in the student's enrollment record. The start dates of the student's second and succeeding sequences are estimated using the number of weeks in the academic year or loan period and the number of weeks not enrolled. If needed, you can change the estimated date on the Academic Years tab. For loan periods, in most cases, the date should not be before the start date of the program version. For loan periods, the start date must be between the start and end dates for the Borrower-Based Academic Year (BBAY).

    Weeks in Loan Period Closed The number of weeks that the student should attend for the selected sequence. If the program was configured to use an academic calendar that uses clock hours or credit hours without terms and you need to make manual adjustments for transfer credits, prior coursework, or test credits, those should be subtracted from the final sequence. Anthology Student displays a message if the value you specify does not match the values Anthology Student determined are needed to complete the program.

    Weeks Enrolled in Loan PeriodClosed The number of weeks in the academic year or loan period. For weeks in academic years, the value for this field and the value in the field for weeks non-enrolled should total 52 weeks. For weeks in an academic year, a provision in the Higher Education Reconciliation Act (HERA) reduces the minimum of 30 weeks of instructional time for programs measured in clock hours to 26 weeks. The minimum for term and non-term credit hour programs is still 30 weeks.

    Weeks Non EnrollmentClosed The number of weeks the student is not expected to attend. The total of the values for this field and the field for specifying weeks enrolled should be 52 weeks. Anthology Student uses the total to estimate the time between the start of one academic year and the start of the next academic year.

     

  2. Under Budget, review the budget calculated using the budget you selected or specified on the Academic Years tab.

    AmountClosed The amount in dollars.

    Bank FeesClosed The action you can take depends on how your institution configured the option to add bank fees for loans. If the field is read-only, your institution automatically adds the fees. If the field is editable, you can manually add the fees. If your institution installed an earlier release of Anthology Student, a message can also be displayed that asks you whether you want to automatically add or manually add the fees.

    Books and SuppliesClosed The cost of books and supplies. If a fee schedule is entered for the student's enrollment, the books and supplies default to the value in the fee schedule (if any). If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value. The Extended Budget allows for the books to be configured as Institutional or Non-Institutional.

    Other ChargesClosed Description of any other charges that are considered cost of attendance (COA). If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.

    Room and BoardClosed The estimated room and board expense for the student for the academic year. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.  ClosedSee Note.

    Total BudgetClosed Displays the total of values you have specified in the budget and represents the cost of attendance (COA) for this academic year or loan period. It includes tuition, books and supplies, room and board, travel, and all other charges.

    Total InstitutionalClosed Amounts paid directly to the institution. They appear on the student ledger card and are counted as revenue for your institution. For example, tuition is an institutional charge. In most cases, travel is not an institutional charge. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the values from the budget. If you select the check box, Anthology Student automatically updates the values for Total Budget and Total Institutional to include the amounts. For the definition of an institutional charge, see the FSA handbook.

    TravelClosed The estimated travel expense for the student. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.

    TuitionClosed The cost of tuition. If a fee schedule is entered for the student's enrollment, the default tuition is the Tuition value in the fee schedule. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.   ClosedSee Note.

  3. Select the Save button on the toolbar.