10.2.0 Is Now Available
Financial Aid Automation
April 2022
What You Should Know
Release Overview
Financial Aid Automation 10.2.0 provides the new Extended Budget feature, updates for COD Processing for the 2022-2023 award year, other enhancements, and resolutions for reported incidents.
Timeline
April 28, 2022 - Financial Aid Automation 10.2.0 Available
Check Service Desk to confirm your upgrade window.
Download the Release Notes Visit the Product Information site
Read the release notes, online help, and watch training videos at the Product Information site.
Release Highlights
This release contains the following enhancements:
2022-23 Annual COD Updates
Financial aid administrators can import and process 2022-2023 Origination, Disbursement and Adjustment data from COD in the COD Common Record 5.0a Schema, enabling successful import and export of files for the 2023-2023 award year. Both the Standard and Legacy interface support the import of all Unsolicited System-Generated Responses (Web Response Files) for the 2022-2023 award year in the 5.0a schema.
All 2022-2023 Common Record documents created in Financial Aid Automation adhere to the COD Common Record 5.0a Schema. This schema covers all supported message classes, all Title IV Fund Sources, and Export of Originations. All 2022-2023 identifier change records in Financial Aid Automation adhere to the COD Common Record 5.0a Schema.
Direct Loan Cost of Attendance Updates
In the September 10, 2021 FSA Partners announcement, COD informed customers that a new tag for Direct Loan Cost of Attendance (DLCOA) reporting that became available prior to 2022-23 is now required to be sent within 2022-2023 COD Common Records.
The newly added "Use Pell COA for Direct Loan COA calculation" field automatically updates the Direct Loan Cost of Attendance field value during Auto Awarding. When the advanced feature for Enable Advanced Auto Packaging is disabled, this field appears in the Automated Campus Settings form within the Standard interface and the Settings and Triggers form within the Legacy interface. When the Advanced Feature for Enable Advanced Auto Packaging is enabled, this field appears in the Automated Budget and Packaging form.
If the “Use Pell COA for Direct Loan COA calculation” field is enabled, then Automated Awarding updates the Direct Loan COA value. If the loan period is for a full academic year, then the Direct Loan COA will be the same full value of the Pell COA configured by the institution. If the loan period is less than a full standard number of terms, as defined by the program version, then Auto Awarding will prorate the Direct Loan COA value accordingly.
Extended Budget
This feature will allow an institution to provide up to 8 more budget fees for any automated budget configured in the Standard interface so the student academic year budget level can be more detailed as to what the total cost of attendance includes. Enabling this feature will prevent users from editing automated budget definitions in the Legacy interface.
16 fee components will be displayed within the automated budget configurations: 8 standard charges that include Tuition, Books, Room, Travel, Fees, Board (meals), Personal, and Bank Fees and up to 8 Other fees that can have the names updated to what each institution wants them to be for that specific budget definition. The Other Fee Priority order on the budget definition will correlate to the individual student’s academic year budget line items. Configured Other fees will be populated automatically.
The extended budget is presented for the Loan Period based on the date the advanced feature for Allow Extended Budget was enabled. All loan periods that start after the date the advanced feature was enabled will be displayed with the extended budget view. If a student’s academic year starts before the advanced feature is enabled, then the academic year budget will display in the standard view which can have the loan period budget in an extended view.
