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TERM | Definition |
Term | Definition |
5 Procedure
5.1 Awarding Parent PLUS - Parent PLUS Approval
Actors
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User
Regent Award
Pre-conditions
Student is Dependent student
Dependent student is auto-awarded a packaged with a non-originated Parent PLUS loan (, either manually or via auto packaging)-packaging
Documents are configured to auto-assign, e.g. Parent PLUS MPN, PLUS Loan Pre-Approval
Tasks are configured and active, e.g. Review PLUS Credit Approval, Review PLUS Loan Denial
Basic Flow
The DL Parent PLUS App and MPN document is PLUS-related documents are automatically populated in a ‘Needed’ status based on the awarding of the Parent PLUS Loan.
Example documents:DL Parent PLUS Application
Parent Plus MPN
The Entrance Interview document will also auto-populate in a ‘Needed’ status, if not already completed and
Note: Entrance Counseling will be auto-satisfied once the
“EC” or COMREC file is imported satisfying Entrance Counseling.
Parent borrower completes a Parent PLUS application at StudentLoans.gov or Federal Student Aid and the credit check is completed on behalf of the Parent.
Regent Award imports a COD response file (.sp, .cs, COMREC) with the PLUS credit decision (e.g. a “SP” PLUS Acknowledgement or “CS” Credit Status Response)
If approved:
Regent Award will update the DL Parent PLUS App and MPN document to a ‘Satisfied’ status.
Other documents, such as a Plus Loan Pre-Approval, may also be updated to Satisfied status.
Regent Award will create a
Review Document (s) task in theTask, such as Review Documents, in the task queue e.g. Review PLUS Credit Approval
task queueor Review Title 4 Eligibility.
The User will populate the parent borrower information
.:
Navigate to the Loans tab
- Highlight the applicable PLUS loan (the status column may need to have filters cleared
In the Status column, clear filters to review all
offered loans)Offered-status loans
Click to select the applicable PLUS loan
In the loan details, click the PLUS Borrower Information sub-tab
Click Edit button
Update details with parent borrower information
Click Save
The User reviews the COD tab, Direct Parent PLUS, to identify amount desired as indicated by parent
If the Application Loan Amount indicated on the COD tab in the PLUS acknowledgement file is less than Regent Award awarded amount, the user will update the award amount via Modify Award Wizard (MAW).
If the Application Loan Amount indicated on the COD tab in the PLUS acknowledgement file is equal to or greater than Regent Award awarded amount continue to step 6
The user updates the PLUS loan award to an ‘Accepted’ status
COD/EST process is run per runbook
Parent must complete the PLUS MPN and EC prior to disbursement of Parent PLUS loan
Post-conditions
Parent PLUS loan is originated and disbursed
Alternative Flow - Parent PLUS Denial
Regent Award imports a COD response file (e.sp, .cs, g. SP PLUS or CS Credit Status COMREC) with the PLUS credit denial
Regent Award creates a Review PLUS Loan Denialtask in the Review Awards task queue
The user will work the task and update the Parent Loan Pre-Approval document to a ‘Waived’ status for the student.
The user works with the borrower to determine if he/she wants to request additional DL Direct Unsubsidized loan
If no, the user works with student on options to fund gap (including application for endorser)
If yes, user marks the additional DL Unsubsidized indicator
Navigates to the loans tab
Highlights Unsubsidized loan
Clicks edit
Navigates to bottom of screen
Updates the indicator to ‘Yes’
Clicks Save
NOTE*** If no Unsub exists due to high Aggregate limits – the user must first manually add the Unsub via the AAW, then mark the additional Unsub indicator in the Loans tab before moving forward and MAPing the student.
Navigates to Academic Plan tab
MAPs student Packages student with Modify Academic Plan (MAP) to award additional DUS Unsubsidized amount and automatically cancel PLUS
Marks Review PLUS Loan Denialtask completed
COD/EST process runs per runbook
Post-conditions
Additional Unsub Loan amount is originated and disbursed
5.2 Awarding Grad PLUS Loan
Actors
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User
Regent Award
Pre-conditions
Graduate student
Student is auto- awarded a Grad PLUS loan (either manually or via auto packaging)
GradPLUS Loan is not originated at COD
Documents are configured to auto-assign, e.g. Direct Graduate PLUS Loan Entrance Counseling, Grad PLUS MPN
Tasks are configured for related Document Use Types, e.g. Review Document(s) Task, Review PLUS Credit Approval, Review PLUS Denial
Basic Flow
The Grad PLUS Entrance Interview document will auto populate in a ‘Needed’ status and will be auto satisfied once the .ec EC (Entrance Counseling) or COD COMREC is imported.
The Grad PLUS loan is ‘Accepted’ via the Student Portal or in Regent Award.
Regent Award populates the Loans tab with the Student borrower information.
The credit check is completed on behalf of the Student.
Regent Award imports a COD response common file with the credit decision
If approved:
Regent Award will update the document to a ‘Satisfied’ status.
Regent Award will create a Review Document(s) task in the Review PLUS Credit Approval task queue.Regent Award populates the Loans tab with the borrowers
COD/EST process is run per runbook
Student must complete the Grad PLUS MPN and EC prior to disbursement of Grad PLUS loan
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Grad PLUS loan is originated and disbursed
Alternative Flow - GradPLUS Denied or Additional Loan Counseling Required
Regent Award imports a COD response file (.sp, .cs, COMRECSP or CS) with the PLUS credit denial
Regent Award creates a Review PLUS Loan Denialtask in the Review PLUS Loan task queue
The user will work the task and update the document to a ‘Waived’ status for the student.
The If additional counseling is required, the user manually assigns the document (e.g. Loan Counseling - PLUS document ) in a Needed status.
Once completed by the borrower and the
CS file is received from COD Loan Counseling
, the Document is auto-Satisfied.
If the borrower does not complete the Loan Counseling no, the user works with the student on options to fund the gap.
6 Workflows
Note: Exact names may vary for Documents, Tasks, and Task Queues.
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Change Log
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