Regent Fund

Owned by Heather Smith
Last updated: Feb 04, 2023
4 min read

Introduction

Regent Fund enables clients to award funds (excluding Direct Loans, Pell and TEACH) to a body of students in bulk, based on a series of user-selected parameters. The product utilizes three tools: Query, Ranking and Priority, and Awarding. A ‘Fund Awarding’ Dashboard that provides a snapshot of non-Title IV fund awarding data is also available to Regent Fund users.

Note: These tools are designed to work at Institution level.

Overview

Product Licensing

Clients should contact their Account Manager to inquire about obtaining a license to implement and use Regent Fund. Account Managers will answer questions, provide additional information, and assist in learning more about the Regent Fund product.

Tools

Query

In the Query Tool, a set of students is identified, based on variables entered by a user. Query results can be exported and/or used in the Awarding Tool to award eligible students.

Ranking and Priority

In the Ranking and Priority Tool, a set of ranking and/or priority (sorting) parameters is created to be applied to a student list defined by the selection of a Query in the Awarding Tool, to establish awarding order.

Awarding

In the Awarding Tool, an Eligible Amount and Award Amount for students are calculated and returned for user review/approval, based on user-selected Query, Fund, Ranking and Priority (optional), and Period information. Users adjust the calculated award amounts for students, if needed, then approve the amounts and execute awarding.

Awarding of Funds can also be accomplished outside of the Awarding Tool via Fund Setup. See ‘Auto-Packaging of Funds via Query Eligibility' below.

Note: The Document Assignment Tool is also available, for assignment of documents in bulk based on the list of students returned by a saved Query defined within the Query Tool.

Additional Regent Fund Functionality

Auto-Packaging of Funds via Query Eligibility

In addition to awarding of funds through the Awarding Tool, Regent Fund users can configure funds in Fund Setup to auto-package for students based on Query eligibility. Ranking and priority cannot be applied through auto-packaging. Documentation to be added.

Fund Awarding Dashboard

The ‘Fund Awarding’ dashboard option is available in Regent User Setup, for users with a Regent Fund license. The dashboard will display the following information related to awarding of funds other than Direct Graduate PLUS Loan, Direct Parent PLUS, Direct Subsidized Loan, Direct Unsubsidized Loan, TEACH, IASG, and Pell Grant, based on Institution/FAY selection:

  • Total Awarded/Number of Students Awarded

  • Budgeted Funds Awarded/Number of Students Awarded

  • Budgeted Funds Remaining

  • Unbudgeted Funds Awarded/Number of Students Awarded

The dashboard includes a Fund Awarding Summary grid that displays the breakdown of individual funds and their number of students awarded, total awarded amount, and budget remaining. Users can click a fund in the summary to display budget-level and student-level information for the fund in a Fund Awarding Details section.

Export Fund Awarding Information File Export Process

The Export Fund Awarding Information File Process is available to Regent Fund licensed users, as a Process Type option on the Export Processes page. The process will create a data file containing award data for non-title IV funds as well as Donor Information and Thank You Note data. See https://regenteducation.atlassian.net/l/cp/L8wM9vQg.

Thank You Note Smart Form

In Document Setup, a document with a Smart Form type of ‘Thank You Note’ can be configured, via the Packaging Assignment tab, to assign to students based on packaging of awards for selected Funds. When a student is awarded from one of the configured funds, the student will receive email notification that the Thank You Note document is needed. The ‘Added by Fund’ and ‘Reason’ field on the student-level Document Requirement in Regent will specify the fund for the award that triggered the Document Requirement.

The student will log in to the student portal to complete the needed Thank You Note forms. The Smart Form presents the Donor Name to the student and provides a text box for the student to enter their message of thanks to the donor. If a Thank You Note Smart Form status is ‘Satisfied,’ the student’s entered Thank You Note text will be presented on the ‘Export Fund Awarding Information File’ process output file if the associated award meets the process selection parameters. Schools can use the output file data to communicate ‘Thank You’ messages to donors. Donor Information data is also included in the output file.

Getting Started: Regent Fund Tool Setup/Data Setup/Data Imports

Certain setup items are required for Regent Fund, and certain data elements must be made accessible to Regent Fund via Regent setup screens and imports to Regent through system Import Processes.

Tool Setup (Configuration)

Data Setup (Configuration)

To use Regent Fund Tools, the following areas must be configured, at Campus level:

  • Fund Setup

  • Packaging Philosophy Setup

  • Program Setup

  • Term Setup

  • Document Setup (only required if needed as a Query element)

    • Including loading of Smart Form file, if applicable

  • User Defined Fields : UDFs may be used as part of the packaging grids for the Packaging Philosophy setup and can also be used in Ranking and Priority. If used in Ranking and Priority, existing UDFs may require updates to identify if the value being provided is a numeric value, amount value, or a date value, to allow for proper sorting and ranking in ascending or descending order.

Data Imports (Import Processes)

To use Regent Fund tools, student data must exist in Regent and can be added via one of the following processes:

  • Import ISIR

  • Import SBL

Additionally, data from a run of the following processes may be needed for the tools to accomplish desired results:

  • Import Student Documents

  • Import Awards and Disbursements

  • Import External Resource

Regent Fund Flow Diagram