Required Nice to Not 3. Financial Aid Comments 3.1 General Is the module integrated with the other modules in the Student System to ensure that financial aid is appropriately administered and distributed? Is the module integrated with your correspondence processor to maintain contact with applicants in an effort to ensure they complete all aspects of the financial aid application? Does the module have the ability to monitor federal funds and indicate if funds are overawarded or underawarded? Does the module have the flexibility to respond to changes in federal regulations? Please describe how you maintain the module to comply with changes brought about by federal mandates? Is the dollar amount limit for College Work/Study funds made available as part of a financial aid package automatically linked with the Payroll module? As the student is paid, is the work/study balance debited in the student's financial aid file? Ability for students to view Financial Aid information via the Web? Does the module enable financial aid officers to perform on-line inquiries into student registration data? Does the module automatically ensure that each student is taking enough courses to retain his or her financial aid eligibility? Does the module have the ability to restrict academic transcripts from being generated for students who are in default on a previous federal educational loan? Does the module provide access to student demographic information (including flags to indicate that an individual is in default on a loan or a Guaranteed Student Loan)? Does the module update subsidiary and control accounts for financial aid transactions and applications? Does the module provide a setup menu for establishing financial aid parameters, defaults, codes, and definitions? Does the module provide screens for creating, deleting, storing, and managing financial aid file suites? Does the module provide verification of limits for work/study and non-work/study payroll? Does the module track incoming correspondence to determine when documentation requirements are complete, as in the case of applications and financial aid documents? Provides professional award and denial letters with the capability to produce letters individually in batch or on-line. Does the module provide management for the various federal programs? Describe your system's format for storing financial aid information detailing advantages and limitations. Include a detailed description of the data fields stored, the limits on each field, values and ranges allowed, the number and types of data flags available, and options for notations in memo fields. Provide a list of all reports and forms that are delivered with your financial aid system. Include examples of each. Describe how your system supports electronic funds transfer. Describe the interfaces between your financial aid module and your finance module. Include how processes from one module access data from the other. Describe the interfaces between your financial aid module and your student module. Include how processes from one module access data from the other. Describe how your system incorporates and maintains state and federal financial aid requirements. Describe how your system incorporates and maintains ADA requirements in your FA Module. Can your system access and display student information by each one of the following: ID, SSN, alien registration number or name? Can your system track all interactions with a student (e.g. appointments, letters, emails, phone calls)? Can your system create a student contact history that can be accessed based on user defined rules and roles? Can your system limit access and edit options to student information based on user defined process rules and roles and security needs? Based on user defined processing rules, can your system provide, using a student's preferred method of communication (email, letter or portal), reminders to supply missing information? These reminders would be used with but not limited to applications, petitions, challenges, waivers, and forms. Based on user defined processing rules, can your system provide, using a student's preferred method of communication (email, letter, portal), reminders to take action on a task based on predefined time triggers and deadline dates? These actions would include but not limited to all appointments and application deadlines. Can your system provide status information to students, at their request and based on security rules, for any process the student is participating in? Based on user defined processing rules, can your system provide notices to appropriate staff and/or faculty for data records or students needing special attention or action? 3.2 Applications Does the module provide the capability for initial filing of financial aid applications? Does the module provide the ability to calculate Estimated Federal Contribution based on Department of Education Federal Methodology Specifications? Ability to accept all central processor applications and corrections electronically. Ability to create database records from electronically downloaded files. Ability to enter financial aid application data before a student is in Admissions or Student Records. Ability to draw down applicant records electronically from the U.S. Department of Education. Supports electronic applications, corrections and payment reporting. Does the module provide for a two-way electronic exchange of information with agencies and companies processing financial aid data? Does the module provide the ability to access data from the Pell Tape Exchange, ACT, CSS, PHEAA, and GAPSFAS, either by magnetic tape or through electronic data exchange? If the student files the federal financial aid forms directly with the institution, does the institution have the ability to subsequently make that data available to other schools by providing it to the appropriate company or agency? Does the module provide screens which parallel the structure of the Free Application for Federal Student Aid? Do these screens collect all data that an institution would need to create a file for electronically submitting applications to the Department of Education? Does the module provide users with an alternate means of calculating student need for non-federal awarding purposes? Does the module include the capability for users to include free-form comments? Does the module provide screens for maintaining miscellaneous fields specific to academic years and students? Does the module provide the ability to convert tapes from ACT, CSS, GAPSFAS, Pell, and PHEAA (with options to replace all fields or only null fields)? For Application Processing, does your system have the ability to: Download ISIR records from EDE files? From downloaded ISIR records: Populate financial aid database? Keep all prior award year records for that student available? Flag record and notify users using predefined processing rules if an updated ISIR is provided for a student that has already been packaged? Flag an updated or corrected ISIR to distinguish it from a new ISIR? Provide exception reports for students whose ISIR name or SSN does not match the name and SSN on the institutional A&R record? Allow the user to view financial aid information on-line including but not limited to: Document tracking records? Awards by semester and award year Disbursement records? Award enrollment status? Loan activity? Repayment status? ISIR and ISIR corrections? Need analysis data? EDE submissions and transactions? FWS employment and payroll data? Activity log? BOG activity? 3.3 Packaging Does the module have the ability to assign an estimated award package to incoming students? Does the module include system parameters that define packaging criteria? Does the module have the ability to simulate packaging for “what if” analysis without allowing student records to be updated? Does the module have the ability to calculate both Pell eligibility and loan eligibility? Does the module have the ability to provide repeated individual revision and repackaging capabilities on-line? Does the module have the ability to identify students for award packaging based on user-defined criteria? Does the module have the ability to accommodate user-define fund authorizations limits and relationships among funds during the packaging process? Allows for packaging overrides? Does the module have the capability of checking satisfactory academic progress during award packaging process? Ability to use optional equity packaging techniques? Does the module have the ability after repackaging to perform the appropriate updating and provide the option to select the type of notification to be sent as well as a reports of those student who were updated? Maintains the dates students were packaged or repackaged For the Packaging/Awarding Process, does your system have the ability to: Allow unlimited number of user-specified packaging plans? Correctly pay a student from either the regular or alternate Pell payment schedule based on federally defined rules? Provide installation of annual federal Pell Grant regular and alternative payment schedules? Provide for automatic update of all awards on the system for a particular program if awarding parameters for that program change? Provide an option to reinstate awards if funds become available? Provide automatic packaging for all students with complete files and packaging codes? Automatically update student's award record when another department enters a scholarship, grant or other award? Provide for funds to be packaged and updated based on federally defined regulations including but not limited to: Pell Grant payment schedule? Pell Grant eligibility indicators? EFC? Specified minimum need? Enrollment status? Requirement to be linked with another award (e.g. Pell & SEOG)? Remaining Pell eligibility for summer? EFC offset? Remaining Cal Grant eligibility? Partial payment if paid at another school? Partial payment if a portion of the award is used to offset existing debt? Partial payment on other user-defined criteria? Block packaging if unmet tracking items or holds exist? Provide mechanism to automatically identify and repackage students who are eligible for summer Pell Grant? Provide a coding system for award status that can be used to identify funds to be disbursed through the system? Update all funds as awards are made to provide current expenditures and balances for each program? Notify the user if student is over-awarded? Must support the assignment of financial aid awards to the students including the following minimum functions: An unlimited number of award terms. User defined terms and dates that may differ from established academic terms. An unlimited number of award programs. An unlimited number of award status codes. Log all award changes by date and user. Provide a means to identify student's statuses: ready for packaging, manually packaged, automatically packaged, award letter sent, award letter returned. Prevent an award if it exceeds the student's need amount for need- based programs. Prevent awards for need-based programs if financial data is not on file. Allow awards without financial data for non needbased programs. Allow award overrides if award is above budget and need in special circumstances. Prevent awards if the student is missing required documents. Update an entire year's awards on one screen. Provide an audit function to identify any awards that exceed need or budget. Provide reports that list all students awarded for a particular program. Update award amount with actual expenditures. Provide for the generation of user defined letters for students with specified awards. Provide an option to copy awards from one term to another. Provide an interface to a word processing system for award letter text that meets institutional standards. Store the date the last award letter was printed. Allow on-line printing of an award letter by student ID. Allow batch printing of award letters for all award changes on a given day or since a given date. Package Pell based on cost of attendance, family contribution, and enrollment level based on the Department of Education's Pell Grant Table. Provide the ability to set packaging criteria for each program: Only students with family contributions less than the value specified. Only state residents. Only if the student is eligible for a Pell grant. Only students with a grade point average above a specified value. Only students enrolled in the specified program. Only to the specified percentage of unmet need. Within minimum and maximum values specified. Only if the student requested child care. Only if the student is not employed. Only if the student indicated that they wanted a loan. Only students with dependent children. Allow the user to define the order in which the programs are packaged. Prevent packaging students with specified codes (i.e. in default, etc.) Allow distribution to terms based on a percentage of annual award amount. Flag students who have no financial need. Flag students who are not Pell eligible. Provide ability to generate denial letter to students who have no financial need and/or are not Pell eligible. Provide ability to automatically package one student at a time or batches of students from the award screen. Should support the following packaging functions: Allow the user to specify the lifetime maximum award amount and number of terms to each program. Provide an audit function for Pell grant awards and other Title IV programs based on student's current enrollment level. Provide the ability to automatically change award status when the student does not enroll. Provide an option to print budget information on the award letter. Provide an option to repackage students based on changes in enrollment level, packaging formula, or when additional funds are available. Provide the ability to select a specific award letter for the type of aid the student is receiving (e.g., Title IV, work force training, scholarship, etc.) Provide an inquiry screen with non-technical terms for faculty advisors, counselors, and other college staff to know the status of a student's financial aid request and a summary of the student's awards. Provide a breakout for the tracking of resources on the award screen. Display unmet need by term Assign a packaging priority when no funds are available. Edit the student's academic progress before allowing an award to be assigned. Prevent the automatic packaging of Pell grant awards if the student is eligible if they enroll full time but not eligible if they enroll less than full time. Provide a verification screen that reflects Institutional Student Information Record (ISIR) data from the transaction number on which the award is based. Accommodate and compare two sets of data. 3.4 Needs Analysis Does the module have the ability to upload electronic ISIR records and produce update reports? Is the module adaptable to meet the requirements of the Title IV Higher Education Act (HEA) and other government standards? Is the module updated annually so that the institution can comply with the US Department of Education’s Regulatory Updates? If so, when are these updates available for use by the institution? Does the module provide users with an alternate means of calculating student need for non-federal awarding purposes? Does the module have the capability of generating worksheets for final verification of all financial aid applicants (e.g. comparing original FAFSA data with tax returns, etc)? For Need Analysis/Verification, does your system have the ability to: Change ISIR data elements to do a “simulated” need analysis that does not change the real ISIR data? Store simulations for later access? Provide detailed need analysis report with complete calculation? Based on user defined rules, automatically adjust the student's cost of attendance for students who are paying out of state fees? Provide an activity record of ISIR transactions? Indicate all EFC changes once student is packaged? Provide reports based on user defined parameters for all students who have submitted FAFSAs? Provide automatic posting of tracking items/required documents for students selected for verification based on user-defined criteria and ISIR data elements? Automatically create holds on the Financial Aid tracking system based on user defined rules? Provide the ability for a counselor's notes to become part of the document tracking system? Provide the ability to carry over user-designated tracking items from the previous year? 3.5 Reporting Does the module provide the capability to prepare reports meeting federal requirements? Does the module provide system parameters that calculate enrollment credits for the Fiscal Operations Report for Federal Student Aid Programs (FISAP)? Does the module have the ability to print the results of the verification process on computer-generated verification worksheets? Does the module produce reports to aid in meeting FISAP reporting requirements? Does the module provide income ranges for aid distribution? Does the module produce financial aid transcripts? Does the module provide the ability to maintain, update, and purge information for a financial aid transcript, including academic year and program, free-form comments, awards and amounts, date printed, and fields to record historical information about loans and awards through another institution? Does the module have the ability to print the results of the verification process on computer-generated verification worksheets? Does the module include reports on aid, scholarships, loan totals by student, and types of awards? Does the module provide an audit trail of student aid totals through registration, accounting for adds/drops? Reporting must be supported by query language and allow flexible generation of reports including: Pell Payment Reporting: The system must produce Pell payment reports in accordance with the Department of Education's specifications including the following functions: Allow the automatic export of student application award data to the Student Payment Summary of the Pell reporting system, including: Amount paid. Enrollment status. Budget Used. Term. Entrance Date. Transaction Number. Payment Months. Verification Code Eligible Semester Remaining. Allow export ability and needed fields to be flexible from year to year Allow the user to override the cost of education for a student. Extract Pell payment data and transmit to the Department of Education through the EDConnect software with or without requiring the use of the Department of Education's Pell Payment software. Import Pell payment error data transmitted from the software and load it into the financial aid system with or without requiring the use of the Department of Education's Pell Payment software. Allow the user to force a student to be extracted for Pell Payment reporting. Import the Student Payment Summary file from the Department of Education and reconcile it to the data that has been extracted and sent to them. Produce a report of any differences. FISAP Reporting The system must provide the applicant and recipient grids as required by the Department of Education for the Fiscal Operations Report including the following: Store the FISAP Income from EDExpress Provide a report of the applicant data for Title IV applicants only (exclude students who applied for scholarships, etc. only). Provide a report of the Title IV recipients. Federal Program Review Reports The system must store and be able to retrieve the data necessary for the Department of Education's Program Review Office including accepted awards by year, by student, and by program for all Title IV programs in an ASCII file format. NCHED A-10 Report This report collects detailed award data for each student awarded financial aid for the twelve-month period ending June 30. This data is used to create summary data on the types and amounts of financial aid awarded to students in higher education in the state. Import of data from the Payroll module compiling the number of student employees who are not workstudy recipients and the amount that was earned by these students. Import of data from the Veteran's certification screens giving veterans who are also Title IV aid recipients and the amount of benefits they received. Import of data from the Financials systems about students receiving third party or agency assistance as well as Title IV assistance and the amount of assistance they received. Ability to generate a report on annual unduplicated headcount of recipients of all types of financial aid. Management Reports The system must store and be able to retrieve the data required for management reports including the following: Duplicated and unduplicated count of financial aid recipients Duplicated and unduplicated count of financial aid recipients for the program and/or fund specified. The system should provide the following reporting capabilities: The percentage of degree-seeking students receiving financial aid. The percentage of degree-seeking FTE students receiving financial aid. Average grade point average of financial aid and nonfinancial aid degree-seeking students. Program enrolled of financial aid and non-financial aid degree- seeking students. Ad Hoc Reports: The system must provide a flexible, user-friendly ad hoc report writing system to allow the user to prepare reports including financial aid, enrollment, and disbursement data on financial aid applicants. The generation of reports must be by term, by year Identification of students on Electronic Data Exchange not in Admissions file. Calculation of data about students receiving types of financial aid, full time enrollment, half time enrollment, or less than half time enrollment. Identification of students with the greatest need and calculation of amount of possible award using: Expected Family Contribution Number in Family Cumulative Grade Point Average Cost of Attendance Receipt of other financial aid and sponsorship from campus/off- campus sources. Financial Aid Transcripts The system must produce Financial Aid Transcripts in accordance with the National Association of Student Financial Aid Administrator's guidelines. Identify students who are not eligible for further financial aid because of a defaulted loan or owing a repayment to USED. Provide a means to clear a default or repayment status. Identify previous colleges attended. Identify sources of financial assistance. Identify loan periods for loan recipients. Identify year in school for loan recipients Produce hard copy Financial Aid Transcripts. Produce Financial Aid Transcripts for students who did not receive any financial aid Store the data and destination of each Financial Aid Transcript. Send Financial Aid Transcripts by e-mail. 3.6 Electronic Data Exchange (EDE) Does the module provide the ability to participate fully in the Electronic Data Exchange Program (EDE)? Does the module provide the ability to create and transmit Student Aid Reports correction electronically to the Central Processor System? Does the module provide the ability to create and transmit electronic Pell Payments? Does the module provides the ability to create and transmit electronic Pell payments? Does the module provide the ability to create and transmit ESAR corrections electronically to the central processor? 3.7 Loans Ability to enter multiple federal loan applications online, including subsidized and unsubsidized loans for the Federal Stafford Loan program Provides online loan summary that displays the student loan history Does the module have the ability to evaluate loan eligibility? Does the module provide guarantee agency information? Does the module have the ability to verify student data on the loan application and reports missing and or inconsistent data? Does the module have the ability to track the complete loan application process from application to loan disbursement? Does the module have a table to store information on multiple lenders (e.g., lender code, lender name, lender address) Does the module store information on multiple guaranty agencies (e.g., guarantor name, guarantor address, etc) Is the module able to award and originate Federal Direct Loan Program loans and to exchange electronic loan origination and disbursement files through EDE Express? Does the module have the capability of generating personalized student loan profiles containing lender information, servicer information, and guaranty agency information based on user-defined criteria? Does the module provide student loan management for federal as well as other types of loans? 3.8 Awarding Does the module provide the capability to track continued student eligibility for aid? Does the module provide the capability to post financial aid awards to Accounts Receivable when appropriate? Can the institution set a percentage or amount limit for over-award situations to identify whenever a student has received more than the allotted aid in any area? Does the module allow the financial aid office to set a standard of satisfactory progress for students to qualify for various forms of financial aid? Does the module allow the financial aid office to set standards using a rule-based algorithm that access any of the data elements in the system? Ability to run a simulated awarding cycle, including reports in batch without updating data to the database Allows for batch assignment of applicants to awarding groups using student system admit status. Ability to do loan limit checking so that the student does not get awarded when they are not eligible. Allows for online overriding of automatic results on an individual Allows to track online award statuses by student and fund. Provides automatic repackaging of multiple groups across groups based on user-defined selection criteria Provides for updating the appropriate application status. Ability to generate Award letters with appropriate detail and totals allowing for format changes. Can the module be used in real-time or batch mode to flag students who are not making satisfactory progress to qualify for their designated financial aid? Does the module provide users with the ability to award funds in batches, as well as modify awards in batches (e.g., change a batch of awards by a dollar figure)? Does the module verify student eligibility each time users allocate awards or transmit awards to the Accounts Receivable module? Does the module permit on-line and/or batch transmittal of awards to Accounts Receivable? Does the module provide for changes to award packages after transmittal to appear as separate items on student records? Does the module include areas for extensive descriptions of each award with associated general ledger accounts? Does the module provide data fields that verify student eligibility? Does the module include award eligibility criteria? Does the module include award categories? Does the module includes term definitions? Does the module include award amounts and amount limitations for transmittal to the general ledger? Does the module include action codes that describe the status of awards? Does the module include Federal Pell Grant entitlement figures? Does the module provide sponsor information for stewardship purposes? Does the module include definitions for full- and part-time status? Does the module provide the ability to enter data from various verification forms, analyze verification data, and update verifications in batch mode? Does the module provide a Financial Aid Awarding menu for entering awards in summary and detail? Does the module provide the ability to record comments and dates for entrance and exit interviews? Does the module provide the ability to record details about a student's loans (e.g., lender, repayment period, interest rate)? Does the module provide the ability to establish limitations for transmittals that update a student's Accounts Receivable record? Does the module provide eligibility verification with flexible parameters? 3.9 Budgeting Does the module provide the capability to develop financial aid budgets for multiple types of students (including standard budgets and Pell budgets) for easy tracking of student costs versus financial aid available? Does the module provide annual student budgets? Ability to create an unlimited number of user-defined budget groups Provides for calculation of each applicant based on budget categories in effect at the institution on a term by term (unlimited) basis. Allows applicants to be assigned into one of an unlimited number of user-defined budget groups. Provides for assignment of cost of attendance values to each applicant based on budget categories in effect at the institution on a term by tem (unlimited) basis. Allows for assignment of students to budget groups with user selected data from the Student system and Financial Aid system online. Does the module have the ability to recalculate a student’s financial need whenever a change is made to a student’s budget? Does the module have the ability to provide for on-line overrides of system-assigned budgets and budget components; on-line assignment of budgets before it is accomplished by the system; and the ability to identify a budget that was overridden and one that was not, as well as maintain an on-line record describing the changes made? Does the module have the ability to revise a student’s budget and revise an award based upon hours enrolled (including fractions of hours) according to dates and enrollment periods? Ability to automatically flag manually changed or overridden budgets to identify non-standard budgets online. Maintains unlimited anecdotal comments online to further explain user actions on an individual applicant basis. For Student Budget Maintenance, does your system provide the ability to: Allow an unlimited number of budget categories to be set up? Recalculate EFC automatically for budgets set for periods longer or shorter than the standard default budget? When a budget code is updated or changed, automatically change budget and need calculation for all students with that budget code within specified semesters? Calculate less-than-half-time budgets based on Pell regulations? Carry over budget detail from one award year to the next so that it can easily be edited without re-entering data elements that have not changed? Must support the assignment of budgets to financial aid applicants including the following functions: Provide a means to establish and maintain student budget codes. Provide assignment of default budgets to students based on: Housing Residency Child Care Needed Expected Enrollment Level by Term Program Enrolled. Assign packaging plans to students at the same time that the budget is assinged. Allow budget adjustment for supplemental costs manually. Provide a means to capture and subtract additional financial resources from the student's budget. (i.e. Veteran's Benefits, scholarships, third party assistance.) Provide a means to override the system-calculated budget with a unique amount. Provide a means to display the components of a student's budget, such as: Tuition and fees Housing Transportation Books and supplies Supplemental costs Log all changes to budgets by user, time and date, and allow user to specify why budget was adjusted. Post "fee pay status" tuition waivers as a financial resource automatically. 3.10 Board of Governor's Grant Processing Requirements For BOG Processing, does your system have the ability to: Enter BOG MIS data elements for students who do not file a FAFSA? Update BOG award information on FA system for actual amount of fees waived? Process refund for students who have paid fees when BOG is applied to system? Identify if student meets BOG B or C criteria based on ISIR data? Block BOG awards for students who are not state residents? Flag records for students who have BOG-A and are eligible for parking discounts and notify the user based on predefined processing rules? 3.11 Financial Aid Data Integrity Requirements For Financial Aid Data Integrity, does your system have the ability to: Update awards based on actual units registered for at time of disbursement? Provide ability to set “freeze” date beyond which enrollment changes in a semester will not change award amount for students who have been packaged? Automatically suspend disbursements for students who have a hold? Identify students with 0 units for R2T4 processing? 3.12 Fund Management Requirements For Fund Management, does your system provide the ability to: Provide a master fund accounting system that allows: Entry and update of an annual budgeted amount for each fund or program? Totaling by AY, semester or other specified time periods? Separate balances based on funds awarded and funds disbursed? Creation of a fund debit when an award or disbursement is made? Reconciliation with Payroll and Business Office ledgers? Reconciliation with MIS reporting? Reconciliation with RFMS records? Reconciliation with Cal Grant system (WebGrants)? Reconciliation with EOPS? Provide an emergency loan accounting system that allows: Creation of a student debit when loan amount is entered? Notification to the Tuition Office and Accounting Office of debt? Creation of a statement for the student? Notification to a student via email when next payment is due? Creation of hold on student’s account? Definition of repayment deadlines and tracking of repayments and loan history? Creation of hold for late payments? Debiting financial aid disbursement? Maintenance of an account for each different loan fund? Prevent awards from being entered if fund is overdrawn? Update Pell Grant fund based on USDE Authorization? 3.13 Financial Aid Accounting/Disbursement Requirements Describe how your student accounting system interfaces with the Financial Module. For Financial Aid Accounting/Disbursement, does your system provide the ability to: Apply all financial aid awards as a credit against outstanding charges? Apply financial aid overpayments as a debit? Reflect all credits and debits in the correct fund balances? Allow students to charge against financial aid credit in the Bookstore? Provide options for EFT of credit balance? Disburse credit balance based on pre-defined rules? Generate check for credit balance at student’s request? Block disbursement if there are holds from Financial Aid tracking system or A&R? Allow outside checks and payments (loans, scholarships) to be applied as credit if student requests? Provide account information on-line that describes (in readable format, not using codes) each fund, the amount of credit applied the reason for a debit, remaining balance and amount due? Provide above information on accounting statement and disbursement check stub? Reconcile Pell credits, debits and disbursements in student accounting system with Pell RFMS Payment files? Reconcile BOG credits, debits and disbursements in student accounts with BOG MIS reports? Reconcile Cal Grant credits, debits and disbursements in student's accounts with Cal Grant reports? Reconcile for a student all financial aid fund totals with credits, debits and disbursements per term? Must provide an interface to the financial systems whereby the financial aid office authorizes the disbursement and the finance office disburses, including the following functions: Provide a means to update all term awards on one screen. Provide automatic posting of awards to Accounts Receivable screens and Bookstore screens, showing real time available balances in each student's financial aid account. Allow the user to specify the required enrollment level by term for disbursement. Allow for the payment of on-campus charges by interfund transfer and disbursing the balance to the student by check. The Financial Aid Disbursement module should support the following: Provide a dynamic disbursement status field that changes whenever a disbursement action occurs to indicate the following disbursement statuses: Disbursements are blocked. Academic progress is being reviewed. Ready for disbursement. Tuition and fees paid. Check issued. Allow the user to specify the order in which financial aid programs are to be applied to on-campus charges. Allow the user to specify which program can be applied to which charges, for which type of fees, and which programs can be disbursed by check Capture all financial aid expenditures in one place. Provide on-line and hard copy reports showing the amount awarded, disbursed, and remaining by student, by term, and by program. Inform the student of the amount of financial aid that will be applied to tuition and fees and any remaining amount the student will owe at the time the student registers through touch-tone registration, through kiosk, and the world wide web. Provide an option of disbursing when a student is on academic probation. Store the number of credits or hours enrolled at the time the check is disbursed. Provide a daily log report of all financial aid disbursements. Provide a report showing the amounts disbursed for an unlimited number of funds. Provide an online report showing summarized financial aid transactions by student, by term, and by fund. Provide the ability to notify the student when loan funds are received. Provide the ability to notify the student when loan funds are returned to the lender. Provide the ability to view awards and disbursements in the same place. Allow the user to specify the number of times a student is allowed to repeat a course and be paid for it. Provide the ability to re-edit student data at the time the check is given to the student. Provide the ability to exclude ineligible classes and programs from the calculation of enrolled credits for financial aid disbursement purposes. The Financial Aid Refunds and Repayments module must support the determination, calculation, and distribution of financial aid refunds and repayments as follows: Identify financial aid recipients who are eligible for a pro-rata refund. Identify financial aid recipients who completely withdraw from all courses. Notify financial aid of the last date of attendance of students who completely withdraw. Provide the ability to calculate financial aid refunds automatically The system should also provide the following refund and repayment functions: Provide the ability to calculate financial aid refunds and repayments online. Provide the ability to distribute financial aid refunds according to federal regulations. Pass financial aid refunds from the financial systems to financial aid systems. Extract students who fail to make required repayments for transmission to the Department of Education. 3.14 Special Program Requirements Can your system update Admission and Records and Business Office records when a BOG is awarded? For R2T4 calculations, can your system: Provide report of students who have withdrawn prior to 60% of the semester? Allow users to access R2T4 data on-line with student name, SSN, fees, withdrawal date, percentage of semester completed based on w/d date? Calculate amount student and college owed? Provide on-line repayment tracking? Calculate total owed to Pell fund? Deduct from student's overpayment record and provide Business Office amount for reimbursement to Pell fund? Calculate amount student owes and create hold? Adjust student awards as repayment is received? Calculate post-withdrawal disbursement, create offer letter, and track repayment against time periods for response? For other repayments, can your system: Track repayments? Update student award and disbursement record as repayments are received? Provide interface to the USDE? For SEOG, can your system: Automatically update award to limit allowed for students who have dropped units but have regained eligibility? Package EFC students until funds run out? Create records for FISAP reporting? Create priority waiting lists? For Cal Grants, can your system: Create GPA and enrollment files for Cal Grant Application based on user defined criteria to include but not be limited to March 2nd criteria, September 2nd criteria, transfer criteria, re-established GPA criteria, and one-year beyond graduation from a CA high schools extension for entitlement grants? Interface with WebGrants to download recipient roster and automatically populate student files with Cal Grant awards for selected students? Interface with A&R to monitor enrollment in vocational program for Cal Grant C, state residency, unit requirements, satisfactory academic progress and other eligibility criteria? Monitor student records for overpayment? Adjust awards for enrollment status and remaining eligibility? Provide state required fund reporting? For Student Loans, can your system provide screen to track entrance counseling, application processing, MPN, loan check audit trail, and record for Clearinghouse submission? For EOPS, can your system: Identify EOPS-eligible students based on established criteria (not a high school grad, BOG A or B eligible, financial need, GPA, etc)? Track student contact by semester, type of award and counselor seen by student? Provide ability to manage funds and accounts for allowable expenditure by fund type (student grants, administrative and personnel expenses, district matching funds, etc)? Given student eligibility criteria automatically award and track EOPS grants and book vouchers? Provide a template for EOPS Plan? Provide progress reports to be completed by instructors for each class in which student is enrolled? Provide the instructor the ability to send a progress report to a student's assigned counselor at any time? Send reminders to instructors based on user defined rules for submission of progress reports? Provide reports on EOPS grants, Care grants, book vouchers, priority registration eligibility and other user defined criteria? 3.15 Work Study Requirements For Work Study, can your system: Interface with Job Placement system? Provide Job Placement with access to eligibility information? Track and calculate fund matches to ensure 75% FWS and 25% College Funds, EOPS, or Calworks? Post student payroll amounts to appropriate fund and track for federal, state and IRS reporting purposes? Identify students whose jobs qualify for literacy and community service requirements? Reconcile payroll totals with financial aid records and job placement records? For off-campus agency employment, can your system: Track off-campus contract process? Identify students and FWS funds paid to students in off-campus jobs? Provide accounting system to calculate employer's match? Provide interface with billing system to bill for employer match? Meet FISAP reporting requirements? For on-campus placement, does your system allow the user to: Create job descriptions for student positions? Create an unlimited number of referrals for on-campus positions in a particular aid year? Track on-campus referrals? Create a job referral from above data? Define multiple pay rates per job? Enter on-line student employee pay rates, employment assignment and hours, and monthly hours worked? Create a monthly time report for Payroll? For on-campus placement, can your system: Interface with Payroll, Accounting and HR? Manage student employment on-line including award amount, earnings paid to date, date of job assignment and employing department? Identify community services jobs and record student hours worked and earning per semester? For off-campus referrals, does your system allow the user to: Create job announcements for job boards? Create referrals for students? Track referrals and hires? Create a list of employer sites for Vocational Education graduates? Create a monthly time report for Payroll? Manage awarded student employment on-line including award amount, earnings paid to date, date of job assignment and employing department? Identify community services jobs and record student hours worked and earning per semester? Can your system maintain information on job placement services for each application including but not limited to: Job referral requested? Referrals made? Copies of job announcements given? Job direction assistance provided? Application preparation assistance provided? Interview technique assistance provided? Vocational Education employers listing provided? Volunteer assistance Internship assistance? Foreign student assistance? Faxing assistance? Letters sent to employed applicants? Referrals to other services? 3.16 Financial Aid Applicant Maintenance Must have access to selected student records (read rights) and a method to determine the quantitative standard of progress. Must automatically notify the financial aid office when a student changes academic plan or program of study. Must support the loading of financial aid applications, including: Providing the means for the student application data to be entered electronically by internet, computer and modem, Department of Education software, and other servicers. Providing the means to establish and maintain two or more years of applicant data at any time. Providing the ability to set system options annually. Options include: financial aid award year, dat entered, dependency status, need-based, adjusted gross income, cost of attendance, expected family contribution, veteran's benefits, and child care needs. Providing the means to store applicant data for later recall and updating. Providing the means to update the student's permanent financial aid record, both in applicant maintenance and for the Financial Aid Transcript. Should log changes to applicant data by user, time, date. Provides application status fields to identify the following: electronic application received, failed a federal edit, rejected by Central Processing System, or failed any Central Processing System database matches. Must provide the following data fields for each financial aid applicant: Need-based aid Dependency Status Number in family in college Adjusted Gross Income Untaxed Income Total Income Cost of Attendance Expected Family Contribution Veteran's Benefits Other resources Child Care Needed Verification Required Auto Zero Expected Family Contribution Local Comment Must provide import/export functions for institutional student information records (ISIRs) from the Department of Education or other servicer into the institution's database system. Should provide automatic sorting of student records by student name or student social security number. Must provide automatic access to calculation of satisfactory academic progress that maintains the following criteria: Flexibility for academic standards that vary campus to campus. Semester hours required for 150% of the student's program of study Rate of course completion. Withdrawal, giving last date of attendance Failures (Fs) Cumulative grade point average Repeated course deletion from grade point average. Calculation of transfer courses incorporated into satisfactory progress. Must provide a means for sending and receiving corrections to the Central Processing System electronically using the Department of Education's EDE software or another vendor's software. Should provide an option to update the permanent records with all applications or only students with previous error or corrections. Should provide a means to print file labels (last,first,ID number)each time new applications are loaded. Should provide an edit against the name in the Student Maintenance System to the name on the application and issue a warning if they do not match. Should support the following application evaluation functions: Allow the user to specify which statuses should block packaging Allow the user to specify which statuses should allow document tracking Allow the user to specify which statuses should generate a letter to the student. Allow the user to remove the block when the problem has been resolved. Allow the user to specify application editing and flag the record if any of the following conditions are met or present: Student owes a repayment to the institution. Student has a defaulted loan. Student has been terminated from financial aid the institution. Student is on financial aid probation at the institution. Student has not been admitted to the institution. Student does not meet ability to benefit criteria. Student's intended program of study is not eligible for financial aid. Student's program of study is not eligible for financial aid. Allow the user to block packaging if any of above conditions occur and generate a letter to the student if they meet any of the above conditions. Should provide the ability to assign applications to specific financial aid counselors based on the last names beginning with specified letters. Should capture National Student Loan Data System (NSLDS) data from applications. Should allow query of the National Student Loan Data System. 3.17 Calculating Eligibility Must support the calculation of eligibility based on federal methodology, including the following: Provide a means of calculating eligibility for Pell grants and other Title IV aid that meets the Department of Education specifications. Provide the means to perform all the Department of Education's edits and verification edits against the application information. Change the student's status each time a revised application for the student is received. Provide the ability to override federal edits on individuals. Provide the means to update the expected family contribution and transaction number each time a revision for the student is received. Provide reports that show the need calculation, student financial data, and status of the applications. Provide an on-line method of changing budget and enrollment status. Provide the ability to perform "What if" calculations without updating the results to the student's permanent record. Should provide the following calculations functionality: Provide a means to produce an initial financial aid award package. Provide a means to produce acknowledgment letters to new financial aid applicants. Flag records if the student is not eligible for Pell, other Title IV aid or state need-based grants. Provide the means to block further processing if the student is not eligible and notify the student. Assign the appropriate aid package based on the following: Student wants work-study. Student wants a student loan. Student wants a parent loan. Student needs day care. Student is enrolled a specified program. 3.18 Document Tracking Must provide for assigning required documents to the student's records, notifying the student, and updating the receipt of documents including: Providing the means to specify document types. Providing fields to identify the status of a student's documents: Documents assigned Missing some required documents. All required documents received. Adding comments to individual documents. Tying documents to an academic year or student's permanent record. Providing the ability to set up standard sets of required documents to be assigned by student type. Providing the means to identify incomplete document files for the purposes of student notification and produce a letter to the student with explanatory text. Providing a means to track the sending and receipt of other student correspondence. Providing a means to disengage the tracking system for documents. Update the applied for admissions requirement from data in the student maintenance system. Should provide the following document tracking: Provide a means for students' inquiry through the world wide web on status of their documents. Provide the ability to scan electronic images of tracking documents. Provide for automatic notification when student file is complete. Provide capability to view scanned-in documents on request. Provide a means to indicate if a document has been electronically stored and automatically update recorded location and status. Allow the user to specify the number of letter to be sent to students. Allow user to specify documents that are to be carried forward from one year to the next. Provide the means to mass track or mass delete one document from a group of students. Provide a historical tracking screen.
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