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Overview
This page describes basic time-related concepts in Regent Award.
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"Non-BBAY" AYs - These are "filler" periods used for tracking aid in non-loan terms on the Academic Plan. BBAYs are technically supposed to always start with an enrollment having Title IV loans. The "non-BBAY" AYs allow Regent Award to display enrollment periods on the Academic Plan when the student only has non-loan aid in that term, such as Pell grants or institutional aid. Non-BBAY AYs are still numbered such as AY1, AY2, AY3 in Regent Award.
Manual AYs - These are defined by a user in the PMW, by script, or by conversion data. Manual AYs have fixed, manual dates and a specified Federal Award Year. See https://regenteducation.atlassian.net/l/cp/Wuvn1vji. A Manual AY is often referred to in the code as "SBM" for Student BBAY Modification.
AY0 - "AY zeroes" are a special type of tracking-only Manual AY. AY0s are typically used for students who have legacy data converted from other financial aid systems. AY0s normally have no course data. AY0s are copied over from before a school began managing Financial Aid in Regent Award. AY0s have very special rules.
Abbreviated Periods - These are another special type of Manual AY, used for tracking financial aid previously awarded at another (non-Regent) school.
Shortened Remaining Period of Study (RPS) AY - These special AYs are always the final Academic Year in a student's program. If a student will finish their program sooner than a "regular" full AY length, the student is said to have a "shortened remaining period of study."
For term and nonstandard term programs, a shortened period of study is any AY with fewer enrolled terms than the normal number of regular terms in the AY. For example, if a student has registration in only 2 of the 3 terms in a 3-term BBAY, and then they graduate, that BBAY is a Shortened RPS AY.
For nonterm, an RPS AY is when the student has fewer units remaining than one full AY. Weeks do not affect a nonterm RPS AY.
Title IV aid amounts are proportionally reduced (prorated) in RPS AYs. See https://regenteducation.atlassian.net/l/cp/0vD64DxH.
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Nonterm programs do not have fixed calendar dates set by the school. Instead, a nonterm AY's dates directly depend on the individual student's courses. Nonterm AYs often have very dynamic dates that change frequently.
Example nonterm programs: Clock-hour programs at some FAS schools, Brandman's CBE programs, Capella's FlexPath (programs with "FP" in the name).
Nonterm AY length is based on the student's courses meeting the required units and weeks defined in Program Setup. A student must fulfill both the required units and the required weeks to progress to the next PP or AY.
Weeks are Instructional Weeks. An Instructional Week is a 7-day period that includes at least 1 day of course registration. Schools define the first day of an instructional week (e.g. Sunday).
Special AYs:
Change link here to OGB for Managing Abbreviated PeriodsSee https://regenteducation.atlassian.net/l/cp/owj0zLKD
Non-Substantially-Equal (NSE) Program Changes can affect the AY dates. See https://regenteducation.atlassian.net/l/cp/1eDgxGi1.
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Regent Award links every AY-based award to a loan period. A loan period is a set of one or more consecutivepayment periods within the same Academic Year, where the AY-based award has positive (nonzero) amounts for all of the included PPs. For Title IV Loans, the loan period's start date matches the start date of the first PP having a positive amount in the AY. The loan period's end date matches the last PP's end date having a positive amount in the same AY.
An exception to the "consecutive PPs with positive amounts" rule is the special "Default Loan Period".
AY-based awards cover PPs within a single Academic Year. For the above example student, the student has Subsidized loan money in the Summer 2019 term and the Fall 2019 term. However, because those terms are in separate AYs, they must each use different Loan Periods.
For term and nonstandard term students, a single AY might contain one or more different Loan Periods, depending on the awarding pattern of AY-based awards within that AY. The example student pictured above does not have any loans in the LTHT semester for Spring 2020. The student has several separate single-term Loan Periods.
Regent Award marks each Loan Period in the database with the loan period's FAY. The loan period's FAY is visible on the Academic Plan with a four-digit FAY (for example, "2020" for FAY 2019-2020). During packaging, RNA also recalculates and stores additional information in the loan period such as loan period EFC, COA, Unmet Cost, and Unmet Need.
Loan Periods often contain multiple loans. If two loans both have the same dates and same FAY, both loans will normally be on the same loan period. For example, paired Subsidized and Unsubsidized loans normally share the same loan period.
Disbursements are linked to PPs in a loan period, but the actual disbursements' scheduled dates may occur outside the PP dates. For example, Brandman and BYUI disburse before the term's start.
Nonterm programs normally have the full Academic Year as the loan period. Nonterm loan periods can sometimes be shortened to end with the PP1 end date in the case of an R2T4 or non-substantially equal program change.
COD has special reporting rules for loan period dates (COD's "Financial Award Period" dates). For both term-based and nonterm programs, if a term or payment period has any positive loan disbursement money for the PP, that term or PP must be included in the loan period. If a term or payment period does not have any loan dollars, that term or PP must not be in the loan period dates. Any zeroed-out disbursements are considered cancelations at COD. Zeroed-out disbursements have relaxed validation rules at COD. For example, a zeroed-out disbursement may still be linked to a PP outside of the loan period or AY dates without triggering a COD rejection.
Default Loan Period
In Regent Award, the Default Loan Period is a special, system-generated loan period for AY-based awards (such as Direct Loans). The Default Loan Period, regardless of actual loan dollars, always matches the full AY length. The Default Loan Period's dates start with the AY start date and end with the AY end date, regardless of any loan amounts or loan eligibility. Most loans and other AY-based awards that run the full Academic Year are linked to the Default Loan Period. During packaging, the system might truncate the Default Loan Period or create other, additional loan periods. For example, a student might withdraw all enrollment from a term and no longer have any loan money in the term, so the original default loan period would be truncated to exclude that term and the loan would change to be on a separate, shorter loan period covering the terms that still have loan money.
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