Student Loan Adjustments

Worklist Item Detail Screen

▪ The worklist item detail screen has information to help make the processing for any form in student loan adjustments easier and seamless.

▪ Graduation Date▪ Academic Level ▪ Enrolled classes per term▪ Awarded Loans▪ PLUS Credit Denials

Student Loan Adjustment Forms

Types Of Adjustments

▪ The Student Loan Adjustment Form is an e-form that students submit online to:

▪ Accept▪ Increase▪ Decrease ▪ Offer▪ Decline

▪ The Student Loan Adjustment Form is used to adjust Subsidized, Unsubsidized, and Graduate PLUS Loans

Guidelines for Adjustments

▪ All loans must be split in half for the academic year (Fall/Spring) if the student is attending both, unless student requests a Spring Only Loan

▪ Summer is awarded as a trailer to the current academic year.

▪ If a student is only attending for one semester, a student is packaged or awarded with half of their annual eligibility.

▪ Undergraduate students graduating in one semester must have their loans prorated.

▪ Any increases must be processed on a new line

Split Code/Disbursement Plans

▪ Prior to October 1st each year loans are posted with regular item types using a split code of AP/AP for fall/spring or FP/FP for fall only.

Item Type Subsequent

Loans

Description

970102099901

02, 03 Direct Subsidized Loan

970104099901

02, 03 Direct Unsubsidized Loan

970104099930

31, 32 Direct Unsubsidized Denial Loan

970108099901

02, 03 Direct Parent PLUS

970109099901

02, 03 Direct Graduate PLUS

Item Type Subsequent Loans

Description

970102099970

71, 72 Direct Subsidized Loan (Seq)

970104099980

81, 82 Direct Unsubsidized Loan (Seq)

970104099990

91, 92 Direct Unsubsidized Denial Loan (Seq)

970108099970

71, 72 Direct Parent PLUS (Seq)

970109099970

71, 72 Direct Graduate PLUS (Seq)

▪ After October 1st, loans are post with sequester item types using a split code of AL/AL for fall/spring, FL/FL for fall only and SP/SP for spring only.

Final Term Loan Proration

▪ Once a student applies for graduation the loans must be prorated in the final term.

▪ If the student applies for graduation before disbursement, the system will prorate the loans automatically based on enrollment.

▪ If a student accepts less than the full amount of the loan, the system may not prorate the loan correctly.

▪ Increases cannot be processed until after the census date. ▪ Proration does not apply to unsub plus denial loans,

students are only eligible for half of the loan.

Final Term Loan Proration Charts

Final Term Loan Proration Specification Chart(Pertains Only to Direct Loans)

Student Enrollment

Specifications for Increasing Loan Amounts

 

Session C Set disbursement date to the day after the 21st day of session C start date

Sessions A, B, & C

Set disbursement date to 1 day after drop/add date for session B

Sessions B & C

Set disbursement date to 1 day after drop/add date for session B

Sessions A & C

Set disbursement date to the day after the 21st day of session C start date

Session A Only

Set disbursement date to 1 day after drop/add date for session A

Session B Only

Set disbursement date to 1 day after drop/add date for session B

Session A & B Set disbursement date to 1 day after drop/add date for session B

UNDERGRADUATE – DEPENDENT   24 Credit Hours for the Academic Term

     6 to 8 Credit Hours $  1875.00  Combined

Total$1375 sub / $500

unsub9 to 11 Credit Hours $  2850.00  Combined

Total$2090 sub / $760

unsub12 to 14 Credit Hours $  3750.00  Combined

Total$2750 sub / $1000

unsub15 to 17 Credit Hours $  4725.00  Combined

Total$3465 sub / $1260

unsub18 to 21 Credit Hours $  5625.00  Combined

Total$4125 sub / $1500

unsub22 to 24 Credit Hours $  7500.00  Combined

Total$5500 sub / $2000

unsub

UNDERGRADUATE – INDEPENDENT   24 Credit Hours for the Academic Term

     6 to 8 Credit Hours $  3125.00  Combined

Total$1375 sub / $1750

unsub9 to 11 Credit Hours $  4750.00  Combined

Total$2090 sub / $2660

unsub12 to 14 Credit Hours $  6250.00  Combined

Total$2750 sub / $3500

unsub15 to 17 Credit Hours $  7875.00  Combined

Total$3465 sub / $4410

unsub18 to 21 Credit Hours $  9375.00  Combined

Total$4125 sub / $5250

unsub22 to 24 Credit Hours $  12,500.00  Combined

Total$5500 sub / $7000

unsub

 

Parent PLUS Unsub Denial Funds Request

Guideline for Adjustments

▪ First and Second year students are eligible for $4,000 in denial funds.

▪ Third and Fourth year students are eligible for $5,000 in denial funds.

Parent PLUS Special Circumstances

Guidelines for Adjustments

▪ We can award unsub plus denial funds for parents of special circumstances including but not limited to:

▪ Parents in an active bankruptcy ▪ Economic hardship ▪ Parents that are not a US Citizens or eligible

Non-citizens ▪ Other circumstances can be approved by

management