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choward
Last seen: 13 hours 57 min ago
Joined: 05/10/2019 - 10:48
Ability to split loan disburements

Hi,

I would like to request the ability to split loan transaction between semesters. I have the situation where a loan disbursement does not quite cover the cost of a semester and I allow it to flow to the next semester and then the shortage is covered.  It will not usually be between academic years just semeters within a academic year, which the Department of Education allows.

 

Thank you,

 

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dparker
Last seen: 15 hours 9 min ago
Joined: 05/17/2019 - 21:42
Meeting

Hello,

We will need to have a meeting to discuss how this would look and work.  

Dana

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choward
Last seen: 13 hours 57 min ago
Joined: 05/10/2019 - 10:48
When you are available lets

When you are available lets do the conversation.  I am running into a situation concerning outside scholarships as well.  If a scholarship is received for the entire year since it is in financial aid I can not split it into the correct terms.  I have an idea of how I can do this but I need some input on whether or not you feel it would work.

 

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Student Accounts/Financial Aid
Nazarene Theological Seminary
Kansas City (USA)

dparker
Last seen: 15 hours 9 min ago
Joined: 05/17/2019 - 21:42
Meeting

After the meeting it was determined that the loans should stay as they are and that the aging report will calculate the balances for the correct terms without the change.  For the scholarships, unless explicitly defined how it is to be disbursed, i believe it is fine to split the transaction using the splitting function in aging report if it is applied directly to the student account. If it is applied through Financial Aid it is also ok to do a revision and add a new disbursement to reflect the full payment. Add notes to the reason for the change in Financial Aid so that it is easy to explain in an audit.

 

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*GNECsis Support Specialist*