Academic Years

You can use the Academic Years page to configure academic year (AY) definitions that you can select when you configure programs for financial aid.

If you configured Anthology Student to also create disbursement schedules using academic year definitions, you can configure the number of disbursements for the academic year along with the percentages of funds dispersed for the different fund sources (such as Pell grants and Direct loans).

Prerequisites

You must have Financial Aid - Configuration - Manage authorization.

Access Method

Select the Configuration tile > expand Financial Aid > select Academic Years.

Procedure to Add or Edit Items

  1. Review the values of the records in the grid.

  2. If you want to:

    • Add a new list item, select the New button on the toolbar

    • Add a new list item by copying and modifying an existing list item, select the row in the list, and select the Duplicate button on the toolbar

    • Edit an existing list item, select the Name in the list

  3. Review, specify, or change the following values.

    ActiveClosed Specifies whether the associated record is active.

    CodeClosed The alphanumeric code assigned to the item by your institution. In most cases, codes must be unique. Select or assign the code for this item.

    Default Months in Academic YearClosed The number of months in the academic year. If you specify a value, Anthology Student uses the value you specify. If you do not specify a value or type 0, Anthology Student calculates the number of months in an academic year using the formula Default Weeks in AY / 4.33.

    Default Terms in Academic Year Closed The number of terms in the academic year.

    DescriptionClosed The name of the item (e.g., data set, batch, job, process, task, person, organization, entity, file).

    NameClosed The name of the item (e.g., data set, batch, job, process, task, person, organization, entity, file).

    Weeks in Academic YearClosed The number of weeks in the academic year. If you selected Non-standard terms, Standard terms of quarters, Standard terms of semesters, Standard terms of trimesters, or Credit hours without terms in the Academic Calendar list, the Department of Education (ED), defines the minimum as 30 weeks. If you selected Clock hours in the Academic Calendar list, ED defines the minimum as 26 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.

    Anthology Student calculates a 36-week AY as 8 months, whereas institutions look at a 36-week AY as 9 months with 4 weeks per month. The Anthology Student calculation is based on 4.33 weeks per month. Holidays are added to the calculation of the AY end date. Anthology Student checks the calendar file and extends the end date of the AY based on this schedule.

    The purpose of the Weeks Non-Enrolled field is to specify the number of weeks in the AY that the student is not expected to be in attendance. The total of Weeks in AY and Weeks Non-Enroll should add up to 52. This number is used (combined with Weeks in AY) to estimate the time between the start of one AY and the start of the next AY.

  4. Under Fund Sources, if you configured Anthology Student to create disbursement schedules using academic year definitions, select the arrow (Right arrow) to expand the type of fund source.

  5. The action depends on whether you are adding or editing disbursements.

    Action Action to Take
    Add disbursements or edit the number of disbursements

    Select the Add button.

    In the dialog, specify the number of disbursements and select the OK button.

    Anthology Student adds: 

    • A record for the number of disbursements specified

    • Default percentages for each disbursement

    For example, if you add or edit the number to be 3, the first disbursement will have a percentage of 34, and disbursements 2 and 3 will have a percentage of 33.

    The maximum number of disbursements for a: 

    • CommonLine loan is 4 

    • Direct loan is 20

    • Grant other than Pell is 6

    • Loan other than Direct, CommonLine, and Perkins is 6

    • Pell grant is 15

    • Perkins loan is 6
    Remove disbursements

    Select the record for the disbursement you want to remove.

    Select the Remove button.

    Anthology Student: 

    • Removes the record for the disbursement

    • Renumbers the disbursements

    • Changes the percentages for each disbursement to the default

    For example, if you remove 1 of 3 disbursements, it changes the percentages of the 2 remaining disbursements to 50.

  6. To modify the percentages for disbursements, select the record and specify the number in the column Percentage %Closed The percentage of the award in the disbursement. For example, 34% indicates 34% percent of the award will be in the disbursement. The percentages for the disbursements must total 100%. If you specify 3 or more disbursements, you can specify 2 decimal places. Otherwise, it must be a whole number. .

  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