_Fund Fees Setup Data Elements

Owned by Katie Macpherson (Deactivated)
Feb 19, 2018

General Subtab

Label:

Requirements:

Value:

Default Value:

How it's used:

Examples:

Fund Name

Required

Dropdown

Select One

Select from a dropdown list of all funds configured for the campus.

Federal Direct Subsidized Loan

Program Type

Required

Dropdown

  • Undergraduate
  • Graduate
  • Post-Graduate
  • Prep-Undergraduate
  • Prep-Graduate
  • Ed-Licensure
  • Post-Bach Licensure
  • CTP Programs

Undergraduate

Select the program type from the dropdown list

Applying Program Types

Ensure a fund fee is configured for each program type at the campus that will utilize the fund.


Date Type

Required

Dropdown

  • First Disbursement
  • Beginning of Loan Period
  • Starting Federal Award Year
Select One

Determines the date type to be used for the effective start and effective end dates. This field tells to what the effective start date should be compared. For example, compare to date of "First Disbursement" or compare to date of "Beginning of Loan Period".

First Disbursement: fee will apply to awards with the date of the first disbursement falling within Effective Start/End Date range.

Beginning of Loan Period: will apply to awards from the fund for which the award start date falls within the Effective Start/End Date range.

Beginning of Federal Award Year: will link the fee to an award sourced to the FAY.


Fee Type

Required

Dropdown

  • Origination Fee
  • Interest Rebate
  • Interest %
Select One

Select the type of fee from a dropdown list.

Interest Rebate: not currently in use for Direct Loans.

Schools are advised to setup an amount of “0” for all Direct Loans and program types with a start date prior to any active loan periods and with no expiration date.

Interest %: configurable, but not currently being used in R8.


Amount

Optional

####.####

Numeric percentage, allows up to three digits on either side of the decimal.


0.000

If the fee type is Origination Fee or Interest Rebate, it is used to calculate the fee to be deducted from the award to determine the net amount.

Interest %
6.800

Federal Award Year

Optional

Dropdown

n/a

Select “n/a” from the dropdown list unless the Date Type is “Beginning of the Federal Award Year”, in which case the applicable FAY should be selected from the dropdown list.

2017-2018


Effective Start Date

Optional

Date Picker

Current Date

Fee will be in effect for loan periods starting on or after this date.

  • If using either the First Disbursement Date or Beginning of the Loan Period, use the first day for the Date Type for which the fee amount will be used.  
  • Leave blank if using Federal Award Year.
8/15/2017

Effective End Date

Optional

Date Picker

Current Date

Fee will be in effect for loan periods ending on or before this date.

  • If using either the First Disbursement Date or Beginning of the Loan Period Date, the last day for the Date Type for which the fee amount will be used. 
  • Leave blank if using Federal Award Year.
  • Leave blank if the sunset date for the fee has not been determined.
6/30/2018

Active

Optional

Checkbox

Unchecked

If checked, the fee is active. If unchecked, the fee is inactive.

If the fee is active for a period in the past, it should remain active. If repackaging should exclude it or if it was never used, then it can be marked as inactive. For additional details, please see "Edit/Inactivate Fund Fee Configuration Steps" below.