Edit Direct Loans

You can use the Awards tab on the Awarding page to edit a Direct loan for a student. This includes:

• Direct Subsidized loans (DIRSUB)

• Direct Unsubsidized loans (DIRUNSUB)

• Direct PLUS loans (DIRPLUS)

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

Note: When you edit awards, you may have to change the award amounts on the NSLDS Information form to $0.00 or delete records on the Current Data tab of the NSLDS form. See Edit and Review NSLDS Information.

Prerequisites

You must have:

• Common - Student - View authorization

• Financial Aid - Student Award - Edit authorization

If your institution has configured permissions for fund sources, you must also be in a staff group that has permission to edit the fund source.

To set the status of the award to Approved, you must also be in a staff group that has permission to approve the fund source. If you do not have permission, the award is saved with a status of Estimated. 

The student must not be in a financial aid hold group.

If the fund source for the award is configured to be Title IV and your institution has configured the campus to require: 

• An ISIR on file to add a Title IV award, the student must have an ISIR on file

• A verified ISIR to save a Title IV award with a status of Approved, the student must have a verified ISIR on file at your institution

You should also be familiar with the Background for Direct Loans.

Access Method

Awards tab (Select the Students tile > select the name in the Students list > expand Financial Aid > select the Awarding tile > Awards tab.)

Procedure to Edit the Award

Some fields related to originating the loan are disabled. For example, the:

• Origin Ack. Date

• Grade Level field for the loan

• Borrower US Citizen field (Borrower Information tab)

You cannot edit those fields.

If you need to reallocate Direct loan amounts, for example, reduce a DIRUNSUB and increase the DIRSUB for a student, you need to refund the DIRUNSUB amount, increase the DIRSUB amount, and send the origination change to COD. See Review Origination Changes.

1. Verify that the program version is correct. If not, select the specific program version in the Program Version drop-down list.

2. Under New Direct Loan, change the values.

   Academic Year End Date The end date of the academic year. If there are no loan periods, the default date is the end date of the academic year. The default date for students in non-term program versions that do use loan periods is the end date for the borrower-based academic year (BBAY) for the loan period. The date does not have to be within the loan period start and end dates. If the Direct Loan is associated with a Loan Period, you can only modify the value for loans with an origination status of Accepted or Batched to send through an origination change or by changing the start and end dates for the BBAY on the Loan Periods tab. Academic Year Start Date The start date of the academic year. If there are no loan periods, the default date is the start date of the academic year. The default date for students in non-term program versions that do use loan periods is the start date for the borrower-based academic year (BBAY) for the loan period. The date does not have to be within the loan period start and end dates. If the Direct loan is associated with a Loan Period, you can only modify the value for loans with an origination status of Accepted or Batched to send through an origination change or by changing the start and end dates for the BBAY on the Loan Periods tab. Administrative Relief 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. Bank Fees 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. Comment Codes The Central Processing System (CPS) adds comment codes and text to the student’s transaction to provide information to the student and the Financial Aid Administration (FAA) about the student’s processed FAFSA. Created Date The date when the item was created. Direct Loan COA This field holds the cost of attendance for the loan period dates of the Direct loan which is retrieved from the Budget COA. Non-originated awards will have the value automatically updated when changes occur to the total budget amount. The value is editable at any time and is available for Subsidized, Unsubsidized, PLUS, Grad PLUS, and Parent PLUS loans for award year 2022-23 and later. Entrance Counseling Read-only field that is selected by the system once the Entrance Counseling Acknowledgement (CRECMYOP) file is imported from COD. This way the user is aware that the file has been imported and entrance counseling is complete. FA Lender For Direct loans, the lender is the Department of Education. Grade Level 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). Gross Amount The net amount of the loan plus any fees. Guarantor Lending Institution The institution guaranteeing the loan. For Direct loans, it is the Department of Education (DOE). Interest Rebate If there is an interest rebate, the amount. Interest Rebate Percentage Displays the interest rebate percentage. If there are disbursements for the loan, Anthology Student uses the first disbursement date to determine the percentage. If disbursements are not associated, then it uses the start date for academic year to determine the percentage to use. The Interest Rebate % field is used to calculate net disbursement amounts and the interest rebate amount for each disbursement. Examples of how the net disbursement amounts and the interest rebate amount are documented in the Direct Loan Technical Reference.

   Lender Fees Specifies the fee charged by the lender for processing the loan. Fees can be configured for the lender by your institution. Loan ID The ID assigned to the loan by COD. Loan Period End Date The end date of the loan. The default is the end date of the academic year. For other loans, the date must be before the graduation date. For Direct loans, it must be before the end date of the academic year. Loan Period Start Date The start date of the loan. The default is the start date of the academic year. For Direct loans, it must be after the start date for the academic year. Net Amount The net amount before fees are added. Origin Ack. Date The date when the origination acknowledgment was received from COD. Origination Batch Identifier When you save the grant, Anthology Student checks for an ISIR on file before writing the Origination ID. If an ISIR is on file, the ID is populated from the ISIR record. Origination Extract Sent The date when the origination was sent to COD. Origination Fee The origination fee is a percentage of the loan amount charged by the lender for the processing of the loan. Federal student loans have an origination fee. The origination fee calculation occurs on the disbursement level. Origination Status Origination status of the award. The values are Accepted (A), Batched to Send (B), Error/Rejected (E), Not Ready to Send or Not Ready to Send, No ISIR (N), Ready to Send (R), and Blank (not on file). This field cannot always be edited. Rebate Amount The rebate amount calculated by Anthology Student. Anthology Student uses the formula Rebate Amt = Gross Loan Amount * (Orig Fee % - Interest Rebate %) / 100.00). Servicer Lender Institution Specifies the servicer that is servicing the loan (such as the institution collecting payments). If a servicer was configured for the lender, the servicer from the configuration is displayed by default. Status The status of the loan. The values are Estimated, Pending Approval, Approved, and Canceled. If your institution is using a servicer to process financial aid, the option for Approved is not selectable (such as Global Financial Services). You must be in a staff group with permission to approve the fund source to select Approved for the award. Student Loan Period Specifies the loan period sequence for the loan. If there is more than one loan period sequence, you must select the sequence. Once you select the sequence, the Loan Period Start Date, Loan Period End Date, Academic Year Start Date, and Academic Year End Date values default to the dates for that sequence. When you change the sequence, the dates on the scheduled disbursements are automatically updated. The academic year defaults to the academic year based on the start date of the loan payment period. For non-term program versions, the dates for disbursements can be changed to dates outside both the loan period and academic year dates. You can disassociate a loan from a loan period sequence if there are no disbursements with a status of Paid or Ready to Pay. Disassociating a loan from a Loan Period Sequence means the loan period dates and disbursement dates will not be changed when the loan periods and loan payment periods are updated by the SPE. These loans will be evaluated by the SPE based on the academic years and grant payment periods that are associated with these loans instead. You can associate a loan with a loan period sequence if there are no disbursements with a status of Paid or Ready to Pay. You can also change a sequence on the loan if there are no disbursements with a status of Ready to Pay or Paid or the origination status is Accepted by COD.

3. If you selected a disbursement schedule or the payments were calculated, select the Scheduled Disbursements tab to review the disbursements. The fields will vary and depend on the program version.

   Acad Year The academic year configured by your institution. Disb The sequence number for the disbursement. For Pell grants, if there are disbursements from other enrollments, the numbering scheme picks up where the previous disbursements left off. Date The date on which the disbursement is to be paid. For grants and Perkins loans, it must be before the end of the award year and academic year. For Direct loans, the date can be changed to a date outside both the loan period and academic year dates for non-term program versions. Fee The fee charged by the lender for the individual disbursement. Anthology Student calculated the value for the disbursement and the field is read-only. Loan Pay Per The 6-digit number assigned by the Department of Education (ED) to SEOG, Federal Work-Study (FWS), and Perkins authorization levels. Net Amount The net amount before fees are added.

   Override Disb Date If the scheduled disbursement date was overridden during the COD export process, the date specified during export. For example, if a disbursement date is a holiday, it can be changed during the export. This is only displayed if Student Financial Aid Awarding (SFAA) is enabled and configured to exclude weekends and holidays and your institution has configured multiple disbursement rules. Pay Per The number assigned to the payment period. The start date of the payment period must be before the end of the academic year and award year. Rebate The rebate amount Anthology Student calculated for the disbursement. The rebate for each disbursement is calculated using the formulas documented in the Direct Loan Technical Reference. When a loan is added or the disbursements are edited, the program adds or updates the rebate amounts for each disbursement to FaSched.InterestRebateAmt. When a user manually adds a refund adjustment to a loan that was accepted at COD, the system does not populate the Rebate field. Status The status of the disbursement. For Direct loans, the statuses are Scheduled (S), Paid (P), or Canceled (C). For all other awards, the statuses are Scheduled (S), Ready to Pay (R), Paid (P), and Canceled (C). Term The available terms with start date and end date of each term. The start date must be before the end date of the award year.

4. Select the Borrower Information tab and change the values. The fields vary and depend on the type of Direct loan.

   Note: For the student to validate when exporting federal loans to COD, the student's profile must have a valid address in the U.S.

   Additional UNSUB Eligibility? The field is only displayed for loans configured to be DIRUNSUB. Borrower Alien Id If the student is not a U.S. citizen, the alien registration number for the student. The number is up to 9 digits. Borrower Citizen Status The citizenship status of the student. The citizenship status is used to determine whether a student is eligible for financial aid. A citizenship status of a Non-Citizen is usually associated with an alien registration number. A Non-Citizen who is eligible for financial aid should be designated as an Eligible Non-Citizen. A Non-Citizen who is not eligible for financial aid should be designated as an Ineligible Non-Citizen. Borrower Default on Loans If the student is not the borrower, specifies whether the student defaulted on loans. The values are Yes, No, and blank. Borrower Default/Ref Code The code assigned to the borrower. Borrower DOB The date of birth (DOB) in the format MM/DD/YYYY. Borrower Driver License Number The driver's license number for the student or person. Borrower Driver License State The state where the driver's license for the student or person was issued. Borrower Employer Address The street address. For student addresses, if an address has more than 40 characters, the additional characters in the address line will not be extracted to be sent to COD but will be truncated. Borrower Employer City The name of the city. Borrower Employer State If within the United States, the name of the state. Borrower Employer ZIP The postal code for the address. If you are specifying an address, you must specify a value for City or State. If you specify a city or state or both, the list contains the valid zip codes. Borrower First Name The first name of the student or person. Borrower Identifier The identifier for the borrower in the format SSN without dashes + date of birth in format YYYY-MM-DD + first 25 characters of last name in upper case. It is a read-only field displayed only for loans configured to be DIRPLUS. The field is populated after you select the Save button on the toolbar. Borrower Last Name The last name of the student or person.

   Borrower Local Address The street address. For student addresses, if an address has more than 40 characters, the additional characters in the address line will not be extracted to be sent to COD but will be truncated. Borrower Local City The name of the city. Borrower Local State If within the United States, the name of the state. Borrower Local ZIP The postal code for the address. If you are specifying an address, you must specify a value for City or State. If you specify a city or state or both, the list contains the valid zip codes. Borrower Middle Initial The first letter of their middle name. Borrower Phone The phone number of the student, person, or agency. Borrower SSN The person's Social Security Number (SSN). You must be authorized to work with SSNs. Credit Decision Date The date of the credit decision. This field is only displayed for loans configured to be DIRPLUS loans. Credit Decision Status The credit decision. This field is only displayed for loans configured to be Direct PLUS loans. When Financial Aid Automation is being used, for the disbursements to be exported, the value must be A, C, or E. Eligible Health Profession? This field enables two levels of additional awarding available to eligible graduate/professional students enrolled in Health Profession programs. The options are "Not Eligible or Declined", "Eligible for up to $16,667 in additional Stafford Loan", and "Eligible for up to $26,667 in additional Stafford Loan". Only graduate/professional grade level students are eligible for the higher amounts. The selection for this field on the Academic Year form determines the value displayed on the Award form. For additional information, see the background for financial aid. Parent Unable to Obtain PLUS Loan When selected, indicates that the parent was unable to obtain a PLUS loan. Preparatory Professional Coursework When selected, specifies that the loan is for Preparatory coursework (to enroll in a graduate or professional program) or Teacher Certification. If the option is selected, a <PreprofessionalCourseworkIndicator> tag is included in the COD Common Records as defined in the COD Technical Reference. The Grade Level for the loan is 5, the maximum Subsidized Stafford loan limit is $5,500, and the combined maximum loan limit of $12,500 is applied. This flag is only accepted by COD when a loan is submitted that has a first disbursement date on or after July 1, 2007. Special Program If the student is enrolled in a special program, specifies the special program. The default is from the program version for the student. The values that are displayed depend on the value displayed in the Grade Level field. The field is displayed only for loans configured as DIRSUB in award year 2014-2015 and later. Student's Email The email address.

   Note: If you use the Automated COD Import process, see COD Jobs for additional information.

5. If the loan is configured to be a DIRPLUS loan, select the COD Credit Information link on the Borrower Information tab.

   

   Review the COD credit information for the borrower.

   6 Month Deferment Option Indicates whether the borrower wants to defer repayment of their Direct PLUS loan for 6 months beginning on the date the student on whose behalf the loan was obtained ceases to be enrolled on at least a half-time basis. True indicates that the 6-month deferment option is used. False indicates the 6-month deferment option is not used. Application Complete Date The date when the PLUS application was completed by the borrower. Application ID Unique identifier that is returned to institutions on PLUS Application Acknowledgments. Award Range Requested End The end date for which the borrower is requesting the loan. Award Range Requested Start The start date for which the borrower is requesting the loan. Credit Action Choice Action borrower plans to take once the borrower has failed the credit check. The values are Appeal Decision (A), Pursue Endorser (P), Not Pursue PLUS loan, Process Additional Unsubsidized Loan if Eligible (N), and Undecided (U). Credit Appeal Status The current status of the credit appeal. The values are Appeal Accepted (A), Appeal Denied (D), Appeal Pending (P), and Appeal Closed Without Final Decisions (R). Credit Balance Option Specifies whether the balance is directed to the student or the borrower. Credit Decision Expiration Date The date when the credit decision will expire and require another credit check before originating a PLUS loan. Credit Requirement Met Indicates whether the borrower has met the credit requirements. The values are Yes and No. Credit Status Complete For PLUS loans, displays the credit status code from COD. Deferment Option Repayment deferment option based on the student's enrollment status.

   Endorser Approved Indicates whether the borrower has been approved. The values are Yes and No. Maximum Loan Indicator Indicates whether the borrower wants to borrow the maximum loan amount determined by the institution. True indicates that the borrower has requested the maximum loan amount. False indicates that the borrower has not requested the maximum loan amount. Origination Credit Decision Status Initial credit decisions for the borrower. The values are Accepted (A), Pending (P), or Denied (D). PLUS Counseling Complete Date The date when the borrower completed PLUS counseling. PLUS Counseling Expiration Date The date when the PLUS counseling expires. Previous Application ID Identifier for the previous application (if any). Reconsideration Eligible Indicates whether the borrower is eligible for loan reconsideration. The values are Yes and No. Requested Loan Amount Total loan amount requested by the borrower when the PLUS application was completed. School Credit Balance Option Indicates whether any remaining balance should be applied to the institution. True indicates that the remaining balance should be applied to the institution. False indicates that the remaining balance should be applied to the borrower. Submission Reason String that describes the reason for the PLUS Application submission. The maximum is 30 characters. Unknown Loan Amount Indicates whether the borrower knows the loan amount for the PLUS Application. True indicates that the borrower does not know the loan amount. False indicates that the borrower does know the loan amount.

   The Financial Aid Automation process will not validate MPN Information for Parent PLUS and Grad PLUS loans when the Endorser is Approved and the MPN is expired. This validation is applicable only for that loan and not any other Direct PLUS Loans taken in the same award year or academic year. However, ELIGBLTY0086 and CODEXPRT0053 exceptions will continue to be created when the MPN is expired for Parent PLUS and Grad PLUS loans and there is no Endorser Approval.

6. Select the Prom Note Info tab and change the values.

   Accepted Note Id Displays the identifier received from COD. Acknowledged Date when the borrower acknowledged the promissory note. Date Prom Note Signed The date when the borrower signed the promissory note. Date Signed Prom Note Received Date when the signed promissory note was received. Manifest Batch Identifier Displays the number of the manifest batch in which the promissory note was sent to the COD. Manifest Date The date when the manifest of promissory notes was sent to the COD. Master Promissory Note Expiration Date Displays the value from the import file. A new <MPNExpirationDate> tag is included in the response block of the COD Common Record received from COD. Master Promissory Note Type Displays the type of promissory note for the selected loan from the imported acknowledgment file. The values are Electronic, Paper, or Web. MPN ID If you are adding a loan, this field is blank. If you are editing a loan and a value for FaLoan.MPNIndicator has been imported, the unique identifier for the master promissory note.

   MPN Indicator Displays the value from the loan origination acknowledgment file that was imported. The values are Y and N. When Financial Aid Automation is being used, for a disbursement to be exported for a Stafford loan (DL SUB/DL UNSUB), it must have a value of Y or N. When Financial Aid Automation is being used, for a disbursement to be exported for a Direct PLUS loan, it must have a value of Y. Print Disclosure Code Indicates where the promissory note is printed. The values are COD prints and sends to borrower, COD prints and sends to institution, COD reprints and sends to borrower, COD reprints and sends to institution, school prints on-site, and electronic (only sent in the rebuild file). Prom Note Accepted Amount Date The date when the origination acknowledgment was received from COD. Prom Note Acknowledgement Batch Identifier Displays the identification number of the promissory note acknowledgment batch. Prom Note Include on Manifest  Specifies whether the promissory note is going to be included on the manifest of notes being sent to COD. The values are Yes and No. Prom Note Print Indicator Indicates where the promissory note is printed. The values are COD prints and sends to borrower, COD prints and sends to institution, COD reprints and sends to borrower, COD reprints and sends to institution, school prints on-site, and electronic (only sent in the rebuild file). Prom Note Printed Date The date when the promissory note was printed (read-only). Prom Note Signed By Borrower Indicates whether the borrower has signed the promissory note. The values are Yes and No. If you change the value to Yes, Anthology Student automatically changes the value of Promissory Note Status to Signed and the value of Include on Manifest? to Yes. Prom Note Status The status of the promissory note for the loan. The values are Not ready to print (default for a new loan), Ready to print, Signed, Printed (automatic), Pending (automatic), Accepted by COD (automatic), Rejected by COD (automatic), Inactive, Inactive Endorser Linked or inactive due to the linking of a PLUS loan with an endorser, and Closed. The field is editable if the loan is new or the status of the promissory note is Not ready to print, Ready to print, or blank. If you are adding a loan and print the promissory note while adding the loan, and the Prom Note Status is changed to Printed once it was printed successfully, the field is disabled even though the loan is still being added. For a loan disbursement export to COD, the MPN status must be Accepted.

7. If the loan is configured to be a DIRPLUS loan, change any needed values under Borrower Employment Information.

   City The name of the city. Employer Name The name of the employer. If you are selecting the employer from a list, it contains the names of all the employers configured for your institution. How many years there? Specifies how many years the borrower has been employed by the employer. Permanent Address The address associated with a person or organization. If you change the address for a student, Anthology Student displays a dialog that you can use to save the address before your changes to the Related Addresses list for the student (Select the Students tile > select the name in the Students list > expand Contact Manager > select the Related Addresses tile.). You can also specify the type of address. For example, if your institution has a value of Previous configured for the address type, you can select the value for any previous addresses.

   Phone Number The phone number. The format depends on how your institution configured phone numbers (such as whether phone numbers use parentheses and hyphens). State If within the United States, the name of the state. ZIP / Postal Code The postal code for the address. If you are specifying an address, you must specify a value for City or State. If you specify a city or state or both, the list contains the valid zip codes.

8. If the loan is configured to be a DIRPLUS loan, select Reference Address 1 and Reference Address 2 on the toolbar and change the values.

   City The name of the city. Country The country of residence. If you are specifying a country, it defaults to the country for the campus. The country also determines the format of phone numbers. If you change the country, the phone numbers are automatically reformatted to the format for that country. First Name The first name of the student or person. Last Name The last name of the student or person.

   Phone Number The phone number. The format depends on how your institution configured phone numbers (such as whether phone numbers use parentheses and hyphens). Relation to Student The relationship to the student (such as parent). State If within the United States, the name of the state. ZIP / Postal Code The postal code for the address. If you are specifying an address, you must specify a value for City or State. If you specify a city or state or both, the list contains the valid zip codes.

9. In the dialog, select the Save button.

10. If you need to add notes, select the Note tab.

11. If you want to save and: 

• Continue making changes, select the Save button

• Close, select the Save & Close button

Anthology Student performs the same validations it did when you added the Direct loan. Anthology Student validates:

• The amount so that it does not exceed the maximum allowed for the award or maximums configured by your institution (such as limiting awards to the student cost of attendance)

• Any authorization limits configured for the general ledger

Anthology Student compares the packaged amount with the loan limit set up for the fund source. If the amount is greater than the loan limit, Anthology Student uses the loan limit.

If your institution has configured an automatic promotion process or document triggers, they are initiated after you save the award.

Select the icon to prevent processes like Student Pace Evaluation (SPE) and Student Financial Aid Automated Awarding (SFAAA) from automatically adjusting the start and end dates when an event occurs that affects the credits or hours a student needs to complete a program.

For more details, see

• How SPE Calculates Dates

• Include or Exclude Academic Years or Awards from SFAAA Updates

Limitations

You cannot edit the values for a Direct loan if it has a status of Approved and your campus prevents you from modifying Title IV aid.

You cannot edit an award if the fund source for the award has been disabled.