Institutional Policy

You can use the Institutional Policy tab of the Automated Refund Calculation Settings form to define a refund policy that may be applied to a student. As there may be several institutional refund policies that apply to a student, you can select the refund policy that benefits the student the most when calculating the refund.

When an automated Institutional Refund (IR) job is run, the system gathers students who have dropped and performs the following:

• For each student drop, the system evaluates the eligibility criteria of disbursements that the student is scheduled to receive or has been paid.

• If the student's disbursements do not meet the eligibility criteria, they will be sent to the Exception Processing queue for evaluation and processing.

• The system then performs the IR calculations for the student based on the Institutional Refund Policies. This includes the Refund Calculation settings that are configured under Settings > System > Campuses > Campus Name > Student Accounts.

  In addition, the system evaluates the IR Policies that may be applied to the student and then determines the IR policy that is most beneficial to the student.

The IR policies that might apply to the student are calculated taking into account the following criteria:

• Whether the R2T4 Period is a Payment Period for Student or a Period of Enrollment

• Student's Payment Period (Standard Term, Non-Standard Term, Non-Term, Clock Hour)

• Length of student's attendance in the program

• Scheduled breaks in instruction

• Leaves of Absence

• Institutional Charges

• Prior Years' Charges (up to $200)

The system determines the balance owed by the student based on the calculation of the Institutional Refund Policy and R2T4. If a balance is owed, the system will set up a cash payment plan or revise an existing plan, if the student has one. A new cash payment promissory note will be created for the student with the revised scheduled cash payments.

As a prerequisite, the Refund Policy needs to be configured following institutional guidelines under Configuration > Student Accounts > Refund Policies.

Prerequisites

You must have:

• Common - Configuration - View authorization

• Financial Aid Automation - Configuration - Automated Refund Calculation Settings - Edit and View authorization.

Access Method

Select the Configuration tile > expand Financial Aid > select Automated Refund Calculation Settings > Institutional Policy (tab).

Procedure to Manage Automated Institutional Refund Policy Records

1. Review the records in the Automated Institutional Refund Policy Configuration grid.

   Campus 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. Configuration Type Configuration type for the institutional refund policy: either 'Setup by Campus Address' or 'Setup by Student Address'. Address Type Address Type used in the institutional refund policy, e.g., student or campus address.

   Default Refund Policy Institutional refund policy that is designated as the default policy. Modified Date The date when the item was changed. On some pages, it also includes the timestamp. Modified By The name of the person who changed the item.

   The "Automated Refund Calculation Activated" column displays "Yes" or "No" to indicate whether the automated refund calculation is activated at the campus based on the Automated Process Activation level.

2. To create a new institutional refund policy, select the New button in the grid toolbar. The New Institutional Refund Policy form is displayed below the grid

   When creating a New record, when multiple campuses are selected, all settings on the form will be applied to all selected campuses. An individual record will be created for each variation.

3. To edit a policy, select the link in the Name column. The Edit Institutional Refund Policy form is displayed below the grid.

4. Specify or edit the following institutional refund policy properties:

   Campus 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. Configuration Type Configuration type for the institutional refund policy: either 'Setup by Campus Address' or 'Setup by Student Address'.

   Default Refund Policy Institutional refund policy that is designated as the default policy.

5. To update a policy, select one or more records in the grid and select the Update Policy button.

   A pop-up dialog displays the number of selected campuses, the campus names, and drop-down lists for Configuration Type Configuration type for the institutional refund policy: either 'Setup by Campus Address' or 'Setup by Student Address'. and Default Policy Institutional refund policy that is designated as the default policy.. If you select Configuration Type "Setup by Student Address", a drop-down for Student Address The category of the Address. For example, Home, Vacation, Work, and so on. If billing address is selected as the Address Type, the address information is displayed in the student's ledger card on the Billing Address tab. is added.

   Select values in the drop-down lists and select the Update button. The dialog will be closed and the grid will be refreshed with the updated data. If you select the Cancel button, the grid will not be updated.

   When multiple records are selected but policies are not shared across those campuses, an informational message will indicate that the campuses do not share same Institutional Policy.

6. To delete an institutional refund policy, select the check box for the appropriate record and select Delete.

7. If you want to save and: 

   • Continue making changes, select the Save button

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

   • Close, select the Save & Close button