Known gaps in current Regent functionality (Updated 6/5/2024)
There are a few outstanding known regulatory gaps that Regent is working to address in upcoming releases. It is important clients are aware of these gaps and any manual workarounds they may perform in the interim.
Additional Non-Filer Requirements in the Verification Worksheet
After receiving conflicting information regarding 2024-2025 verification requirements for non-filers, Regent has confirmed that Financial Aid Administrators are required to review ALL income and resources for non-filing contributors to confirm the total taxable items are indeed below the non-filing threshold. Scheduled for the 6.10 Release (subject to change), Regent will update the VWS to collect this information, but the FAA user will complete the analysis.
Until this is in place, Regent is advising clients to assign a .pdf form to V1 and V5 students for manual submission on non-filer income information.
2024-2025 VWS Logic Update when Manual Entries Override Successful IRS Match
Even if IRS data is not used to calculate SAI, if it exists the IRS match still shows as successful and FTI is included in the ISIR. As a result, even if there is a successful IRS match, the VWS may need to be assigned to students selected for V1 or V5 verification in 2024-2025. Scheduled for the 6.10 Release (subject to change), Regent will update the VWS to display specific questions and persist 2024-2025 documents if certain criteria are met.
Until this is in place, Regent is advising clients to manually review each V1 and V5 selected ISIR and manually assign any required documents that were not automatically assigned to the student.
New Pell Rounding Rules
The FSA Handbook updated rounding guidance that was published in February conflicts with previous information Regent received from ED. Regent has confirmed the new rules with FSA and NASFAA contacts, and we are working to analyze and address these updated rules in the 6.7.4 Release, targeted for mid-June, subject to change.
Student-Level Census Logic in Pell Rebuilds (Withdrawals)
For the new enhancement to apply Census Date to Rebuild Pell awards (RS-27344), functionality is limited to positive Pell Rebuild awards in past terms. Any Pell awards that are currently zeroed out in those terms will continue to use the Student-Level Census Date (end of the term). Current terms will not use Census Date 1 until the student is packaged after the term end date.