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Overview

For nonterm credit-hour programs, Regent Award may optionally calculate projected end dates for the R2T4 Wizard, Step 2. The calculations are enabled by Program Setup configuration, Method for Projecting Nonterm R2T4 PP End Date.

When configured, Regent Award will extrapolate the Step 2 dates based on the individual student's rate of successful completion in the R2T4 payment period. The calculations are based on the nonterm formulas detailed in the FSA Handbook. Regent Award also provides for a program-level configuration setting for cases when the student has not completed any units in the payment period.

The nonterm R2T4 Extrapolation Formulas will calculate and populate initial values for the following date fields in Step 2 in the R2T4 wizard. 

  • Scheduled PP End Date
  • AY End Date Override
  • LP End Date Override

Regent Award will use those dates when reporting loan information to COD. Those dates apply to nonterm R2T4s only. Users may also edit the dates.

R2T4 Extrapolation Formula Calculations

Regent Award calculates the Step 2 dates based on the individual student's rate of successful completion in the R2T4 Payment Period. The following formulas describe Regent Award's formulas for projecting the R2T4 end dates.

Successful Completion Ratio

The Successful Completion Ratio is the proportion of how quickly the student is earning units, compared to the number of units in a normal nonterm PP for that program.

Successful courses are all completed, non-transfer, progression courses with positive Quality Points. Courses must be financial aid eligible (i.e., either Program Applicable or Qualified Remedial).

The normal PP length is one-half the Academic Year units and weeks, defined in the Program Attributes in Program Setup.

If the student has positive Successful completed units:

  • Formula:
    1. (Total successful units in PP) /  (Total units in one-half the program's AY definition)
    2. Round to four decimals using standard rounding
  • Example:
    • Program AY definition is 9 units; normal PP length is 4.5 units
    • A student completes 1.5 successful units
    • Successful Completion Ratio is (1.5 successful units) / (4.5 units) = 0.3333  or 33.33%

Days of Attendance

Days of Attendance include all instructional days with attendance in any courses (including withdrawn courses). The system does not include any days that are during breaks in instruction of 5 days or longer.

  • Example: A school has an institutional break for 14 days in late December. A course starts December 1 and ends January 5. Regent Award will only include the non-break days when counting days of attendance.
  • Example: A student has a leave of absence for 32 days, then returns and continues attending before withdrawing later in the payment period. The system would not include the 32 LOA days.
  • Example: A school does not schedule any classes for Thanksgiving weekend, Thursday through Sunday. A student withdraws the following Monday. Because the gap was only 4 days long, Regent Award will still count all four days (Thurs-Sun) as days of attendance.

Calculating Projected PP Days

Projected PP Days are the estimated total days in the R2T4 payment period. The days are estimating what a student would have needed to finish all expected units in the PP, if they had kept attending and completing courses at their current successful completion rate.  

Regent Award estimates the Projected PP days using the student's successful completion ratio. The resulting Projected PP Days are rounded using standard rounding.

  • Formula: (Student's days of attendance in the PP) / Successful Completion Ratio = Projected Days
  • Example: A student has 100 days of attendance and a successful completion ratio of 33.33%. When the student withdraws, Regent Award will calculate  (100 days) / 0.3333 = 300 projected days in the R2T4 PP.

Projected PP Days cannot be less than the minimum payment period length for the program.

  • Example: A program's AY definition is 18 units in 48 weeks, with a normal PP length of 9 units in 24 weeks. A fast-progressing student in PP1 completes 15 units in 70 days, and then withdraws. The completion ratio would have been (15 units / 9) or 1.6666. The Projected Days will instead use the program's minimum PP length, (24 weeks x 7 days) = 168 Projected Days.

Projected Days when Zero Units Completed

Regent Award only calculates Projected Days if the student has positive Successful Completed Units. If the student has zero Successful completed units, Regent Award will substitute the value from the program's configuration.

  • Projected Days = the configured value of "Days in R2T4 PP when 0 Units Completed" from Program Setup.

  • Example:
    • Program AY definition is 9 units; normal PP length is 4.5 units; Days in R2T4 PP when 0 Units Completed = 336 days
    • A student attends and completes a course but earns zero quality points. The student attends another course and withdraws.
      • Because the student did not complete any courses with quality points, the successful completion ratio is 0 (zero).
    • The student's Projected Days will use the 336 days.

Setting the R2T4 Wizard Step 2 End Dates

If the program is configured to use the formulas, Regent Award will populate the Step 2 end dates on the R2T4 wizard.  R2T4 Wizard - R2T4 Tab. Users may edit the dates.

The system only populates the dates for the first Period of Attendance. If a user adds additional periods of attendance, the user must calculate those dates. The system will still apply the AY and LP override dates to all loans in the Payment Period.

Scheduled PP End Date

If the R2T4-only Payment Period Extrapolation Formula configuration setting is not enabled, Regent Award will initially set the Scheduled PP End Date to the default/existing value from the Academic Plan. A user may still edit the date.

If the R2T4-only Payment Period Extrapolation Formula is enabled for the program, Regent Award will set the Scheduled PP End Date by adding the Projected Days to the PP start date. The system subtracts one to avoid double-counting the first day in the PP. A user may also edit the date. 

  • Formula: PP Start Date + Projected PP Days - 1
  • Example: PP1 starts 1/1/2019, Projected Days 300, Scheduled PP1 End Date is 10/27/2019

AY End Date Override

If the R2T4-only Payment Period Extrapolation Formula configuration setting is not enabled, Regent Award will not calculate the AY End Date Override value. A user may still enter a date.

If the R2T4-only Payment Period Extrapolation Formula is enabled for the program, Regent Award will calculate and set the AY End Date Override. A user may also edit the date.

The formula varies depending on if the R2T4 is in the first payment period (PP1) or second payment period (PP2).

PP1: Assume the student would have needed two payment periods of the same length (both PPs would be the same Projected PP Days in length). The Academic Year would end with the PP2 end date. Regent Award will add on two times the Projected Day PP lengths.

  • Formula: (Scheduled PP1 Start Date) + (2 x Projected Days) - 1 
  • Example: PP1 starts 1/1/2019, Projected Days 300.  AY End Date Override is 1/1/2019 + (2 x 300) - 1 = 8/22/2020

PP2: End with the projected PP2 Scheduled PP End Date.

  • Formula: Scheduled PP2 Start Date + Projected Days - 1
  • Example: PP1 starts 1/1/2019, PP2 starts 5/1/2019, 300 Projected Days
    • PP2 start 5/1/2019 + 300 - 1 = 2/24/2020 = AY End Date Override

LP End Date Override

If the R2T4-only Payment Period Extrapolation Formula configuration setting is not enabled, Regent Award will not calculate the LP End Date Override value. A user may still enter a date.

If the Extrapolation Formula is enabled, Regent Award will calculate the end date for the R2T4. The LP End Date calculation varies depending on if the R2T4 is in PP1 or PP2, and if the student has any loans retained after the adjustments for R2T4 calculation. The loan period dates will only include PP2 if PP2 still contains loan money after the R2T4 calculation. A user may also edit the date.  

R2T4 is in PP1: Loan Period is truncated ends with the Scheduled PP1 end date. No loans are awarded for PP2. 

R2T4 is in PP2: Loan Period will be either the end date of PP1 or PP2, depending on the loan dollars in PP2.

  • If R2T4 is in PP2, and student retains $0 or has a refund of all loans, then Loan Period will match Scheduled PP1 End Date.
  • If R2T4 is in PP2, and student has at least $1 in loans, then Loan Period will match AY End Date Override.

Example: PP1 is 1/1/2019 - 4/30/2019, PP2 starts 5/1/2019, Projected Days 300

  • If loans retained (student keeps $1 or more in PP2 loans), LP End Date Override = projected PP2 end date: 5/1/2019 + 300 - 1 
  • If all PP2 loans refunded or $0, LP End Date Override = PP1 end date, e.g. 4/30/2019.

When reporting the AY End Date to COD, Regent Award will use the LP End Date Override value as the Financial Award End Date.

Special Situations

A few special cases apply.

  • If a student is progressing faster than expected, the system will use the minimum payment period length in weeks.

  • If the PP had a nonterm substantially equal program change (SE PC), the successful units are totaled across all programs in the payment period. Regent Award does not count transfer units toward the formulas.

    • Regent Award applies the calculations and configuration settings using the current active program for the payment period.

  • If a student is in a shortened remaining period of study, or a short program less than an AY in length, then the school may wish to manually adjust the dates. A permanent message appears on the R2T4 Wizard as a reminder.
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