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Overview

Schools reconcile COD (Common Origination & Disbursement) data on an ongoing basis to ensure all records are in alignment at the end of the FAY. Exceptions between FAM and COD YTD disbursement amount data are brought to the client’s attention through the Direct Loan (DL) Reconciliation process so they can resolve each conflict as it is identified. An automated process presents the client with those exceptions as data from specific COD reports is imported into Regent Award.

Regent provides disbursement-level reconciliation exceptions by FAY between Regent data and the main DL SAS report that is pushed to schools monthly via SAIG (the Disbursement Detail section) – client’s can request the YTD option with student names to include the loan disbursement detail section. The message class for the Direct Loan Reconciliation fixed-length flat file is DSDF##OP.

SAIG Message Class

The message class for the Direct Loan Reconciliation fixed-length flat file is DSDF##OP (where ## is the second year of the FAY).  It is dynamically set as Active if the related class for the prior FAY is set as Active.

Filewatch Folder

The Direct Loan Reconciliation report may be dropped in an sFTP folder for automatic processing.  The Filewatch (sFTP) Folders are:

  • Export (main): ExportDLReconciliation

  • Import (main): DLReconciliationLoad

Import Process

To manually initiate the process, navigate to Processes > Import Process in Regent Award and select 'Import Direct Loan Reconciliation.'  Select your file and click 'Import.'

Regent Award will match the records to the students at the time of import by SSN, FAY, Loan ID (Loan Identifier in DL YTD file) and Disbursement Number. 

 

The Import Direct Loan Reconciliation Process Log > Details Tab displays:

  • Total Records = total number of students in the import file
  • Processed Records = total number of successful student records imported
  • Unprocessed Records = total number of unsuccessful student records not imported

Direct Loan Reconciliation Process Report Output

After the file has been imported, the output report can be found on the Process Log > Export Direct Loan Reconciliation as a separate entry.

The Export Direct Loan Reconciliation Process Log > Details tab displays:

  • Total Records = total number of students
  • Processed Records = total number of successful student records imported
  • Unprocessed Records = total number of unsuccessful student records not imported

The download file links to a report that includes the following Summary Section:

  • The number of unique disbursements in the COD file (note, one disbursement may be reported multiple times if the paid amount has been adjusted over time)

    • This means the sum of records with unique Loan Identifier and disbursement number.

  • The number of unique disbursements in the COD file that are exceptions

    • This means the sum of records in the "Exception Reason" column that are not blank (Sum of all combined records with exceptions (COD + Regent))

  • The number of paid disbursements >$0 that are not in the COD data 

    • This means the sum of records where 'Most recent COD Actual Gross Disbursement amount' is blank and there is a value in 'Most recent Regent Gross Paid Disbursement amount' field

  • The number of disbursements in the COD file that were not matched with students in Regent

    • This means the sum of records where "Exception Reason" = Disbursement Not in Regent

  • The total gross YTD dollar amount of disbursements in COD (most recent transaction for each disbursement)

    • This means the sum of 'Most recent COD Actual Gross Disbursement amount' per unique Loan Identifier

  • The total gross YTD dollar amount of Paid disbursements in Regent Award

    • This means the sum of 'Most recent Regent Gross Paid Disbursement amount' per unique Loan Identifier

  • The dollar amount of the difference between the total paid disbursements in COD vs. Regent Award

    • This means the sum of 'Most recent COD Actual Gross Disbursement amount' - Sum of 'Most Recent Regent Gross Paid Disbursement Amount'

Exception Reasons are identified as follows:

  • The dollar amounts for disbursements are not the same.

    • Reason is displayed as "Disbursement Amounts Not Equal"

  • The disbursement is in the COD file and is not present in Regent Award.

    • Reason is displayed as "Disbursement not in Regent"

  • The student is on the COD report and is not matched in Regent Award

    • Reason is displayed as "Student not in Regent"

  • The paid disbursement is in Regent Award, the transaction date is before the Batch Date (date COD created the file), and the disbursement is not in the COD file.

    • Reason is displayed as "Disbursement not at COD - processed before COD file date"
  • The Student doesn't have a Direct Loan for the specified FAY
    • Reason is displayed as "Award is not matched"

  • The Disbursement is not at COD

    • Reason is displayed as "Disbursement not at COD"

  • The Student is not a distinct match

    • Reason is displayed as "Student not a distinct match"

  • The FAY is a mismatch - the award matches (on FAID) but the FAY in the Loan Identifier is different from what Regent has for the award

    • Reason is displayed as "FAY Mismatch"

  • The Student has an SSN Mismatch - the award matches (on FAID) but the SSN form the Loan Identifier is different from the current SSN at Regent

    • Reason is displayed as "Student SSN Mismatch"

  • The School Code is a Mismatch - the award matches (on FAID) but the School Code is different from the FDSLPID in Regent

    •  Reason is displayed as "School Code Mismatch"

  • The Fund is a Mismatch - the award matches (on FAID) but the COD Fund in the Loan Identifier is different than what Regent has for the award

    • Reason is displayed as "Fund Mismatch"

Task for 'Review Direct Loan Reconciliation Exception'

A new task is created for any student with an exception IF the Regent transaction date is not more recent than the COD file date.  The name of the task is 'Review Direct Loan Reconciliation Exception' and is found under 'Review Reconciliation Tasks' in the Task menu.

Activity Log Entries for Direct Loan Reconciliation

An Activity Log Entry (ALE) will trigger upon task assignment, upon task closure and if a student is included in the imported file and is NOT an exception.  An example ALE for a student without an exception is below:

Permissions for Direct Loan Reconciliation Process

You can enable the permission for the new Import DL Reconciliation process under Global Permissions > Process Permissions > Import Processes 

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