10.3.0 Is Now Available

What You Should Know

Release Overview

Financial Aid Automation 10.3.0 provides multiple enhancements within Auto Awarding, Auto Refund Calculation, Disbursement Eligibility, and System, as well resolutions for reported incidents in Auto Refund Calculation.

Timeline

July 21, 2022 - Financial Aid Automation 10.3.0 Available

Upgrade Rollout Plans for FAA 10.3.0 customers:

• Cloud 2.0 - This update will be applied to your nonproduction environment(s) within 2 business days and your production environment within 12 business days.

• Cloud 1.0, CampusNet, and on-prem customers – If you would like to apply this update, please submit a CSR and scheduling will occur based on availability.

Release Highlights

This release contains the following enhancements:

• ‘Allocate' Repackage Method for Calculating the COA per Payment Period Within a Single Academic Year

  Users working in Cost of Attendance Options can select a Repackage Method of 'Allocate' in the Common Fees & Charges and all residency sections for any fee. This enables you to configure a specific Budget Allocation for a selected Fee Type.

  You can choose a Distribution Type of either Credit Hour or Flat Rate, configure the credit amount range for the allocation with a Low Credit Hour/High Credit Hour amount, and add the desired tuition amount to charge the student, either a per credit hour amount or a simple flat rate tuition amount.

• Direct Loan COA Calculation Field Usage During Auto Packaging/Auto Repackaging for Standard Term Programs

  When the Direct Loan COA Calculation field is enabled, a calculation is performed when you award a Direct Loan with a loan period less than or equal to a full standard academic year.

  The "Use Pell COA for Direct Loan Calculation" field now displays as the "Direct Loan COA Calculation" field in the following scenarios:

  • When the Advanced Feature for Auto Packaging is Disabled, the field displays as "Direct Loan COA Calculation" in the Automated Campus Settings form

  • When the Advanced Feature for Auto Packaging is Enabled, the field displays as "Direct Loan COA Calculation" in the Automated Budget and Packaging form

  When this field is enabled, the system updates the Direct Loan COA value each time a loan is Auto Packaged. The loan is not updated when the loan is Locked or the status is 'Batch to Send' or 'Rejected'.

• Auto Refund Calculation Job Based on Different Scenarios

  Within Auto Refund Calculation, you can configure the job to run based on different scenarios. You can control the specific aspects of when a refund calculation is created based on the following scenarios:

  • The number of days from a student's status change

  • Only students who are members of a student group

  • Students (either in a student group or not in a student group) who had a status change based on the number of configured days from the change status

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