Add Payment Periods (Non-Term Program Versions Only)

For non-term program versions, you can use the Academic Years and Loan Periods tabs to: 

• Restore Title IV payment periods that were deleted (There is a maximum of 2 payment periods per program version, academic year, or the remainder of a program version, whichever is less.) 

• Add payment periods that are not Title IV 

If you need to edit payment period dates, refer to Edit or Delete Payment Periods (Non-Term Only).

You should be familiar with the Background for Payment Periods (Non-Term Only)

Prerequisites

Access Methods

Select the Students tile > select the name in the Students list > expand Financial Aid > select the Awarding tile > Academic Years tab.

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

Procedure to Add a Payment Period

1. Select the sequence in the list.

2. Select the Payment Period button. Review the existing payment periods.

   Academic Year The academic year configured by your institution. Amount The amount in dollars. Credits If the program is configured with an academic calendar that uses clock or credit hours without terms, the number of credits in the sequence or period. The total of all sequences or periods must equal the credits for a full academic year or loan period. For non-term program versions, the credits in a final loan period can change from the definition configured on the program version based on student need. For example, a student transfers 10 credits. The credit transfer reduces the number of credits needed to complete the program version requirements. The final LP credits are reduced by 10. Anthology Student displays a message if the value you specify does not match the values Anthology Student determined are needed to complete the program./Hours 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. End Date The end date of the payment period. The default is the end date for the sequence. For an academic year, the end date of the last payment period sequence must be the same as the end date of the academic year. In most cases, for loan periods, the end date of the last payment period sequence should be the same as the end date for the loan period. The end date for one sequence must be before the start date of the subsequent sequence.

   Fund Source The source of this fund. If your institution is using fund source security, you must have permission to work with the fund source. Start Date The start date of the payment period. The default is the start date for the sequence. For an academic year, the start date of the first payment period sequence must be the same as the start date of the academic year. In most cases, for loan periods, the start date of the first payment period sequence should be the same as the loan period. Subsequent start dates must be after the previous payment period end date. Weeks 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.

3. Select the New button. The fields that are displayed will depend on the academic calendar configuration for the program version.

   Credits If the program is configured with an academic calendar that uses clock or credit hours without terms, the number of credits in the sequence or period. The total of all sequences or periods must equal the credits for a full academic year or loan period. For non-term program versions, the credits in a final loan period can change from the definition configured on the program version based on student need. For example, a student transfers 10 credits. The credit transfer reduces the number of credits needed to complete the program version requirements. The final LP credits are reduced by 10. Anthology Student displays a message if the value you specify does not match the values Anthology Student determined are needed to complete the program. End Date The end date of the payment period. The default is the end date for the sequence. For an academic year, the end date of the last payment period sequence must be the same as the end date of the academic year. In most cases, for loan periods, the end date of the last payment period sequence should be the same as the end date for the loan period. The end date for one sequence must be before the start date of the subsequent sequence. Hours 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.

   Sequence Number assigned by the system to the academic year, loan period, or payment period record. Start Date The start date of the payment period. The default is the start date for the sequence. For an academic year, the start date of the first payment period sequence must be the same as the start date of the academic year. In most cases, for loan periods, the start date of the first payment period sequence should be the same as the loan period. Subsequent start dates must be after the previous payment period end date. Weeks The number of weeks that the student should attend for the selected sequence. The total of all sequences or periods must equal the credits for a full academic year or loan period.

4. Review the values calculated by the Student Pace Evaluation (SPE) tool.

   Credits Milestone The date when the student will satisfy the credits required for the payment period. Hours Milestone The date when the student will satisfy the hours required for the payment period.

   Instructional Weeks Milestone If you are using the Financial Aid Automation COD Export feature and your institution has been granted Administrative Relief, select the check box to ensure that records for the closed award year are included in the COD Export process.

If There Are Overlapping Loan Periods

Payment periods for an overlapping loan period are static. If there are two payment periods in the overlapping loan period, the:

• First payment period represents the first half of the loan period

• Second loan period represents the second half of the loan period

If there is an overlapping loan period, the Credits Milestone and Instructional Weeks Milestone of the:

• First loan period payment period is set to the midpoint of the overlapping loan period and will not change

• Second loan period payment period is set to the end date of the overlapping loan period and will not change.

The end date for each loan payment period is also set to the milestone dates.