Regent Automation Support for OAYs

1. During packaging, Regent Award detects students in term-based programs who have a previous Overlapping Academic Year (OAY) containing Subsidized and/or Unsubsidized loans.
2. When Regent Award is configured to do so, Regent Award automates the loan amount adjustments for students affected by OAYs.
   1. Regent packages Federal Direct Subsidized and Unsubsidized Loans so the total amounts do not exceed the annual limits in the overlapping Academic Year.
   2. Regent applies the student’s current grade level and current dependency status in Regent Award to determine the limits for the Regent loans.
3. Regent users can see the OAY and its effects on awarding. Permissioned users can edit and override OAY data.
4. Regent also has Tasks to alert staff for less common OAY scenarios.

Terminology

Overlapping Academic Years (OAY): The scenario when an Academic Year has an AY end date that falls on or after the AY start date of a subsequent academic year for the same student.

Previous Academic Year: An Academic Year from a former school (External) or from a preceding AY in Regent (Internal), that contains Subsidized and/or Unsubsidized Direct loans.

New Academic Year: The first Academic Year on the student’s Academic Plan following a previous Academic Year that overlaps with the New Academic Year’s AY dates.

External Overlapping Academic Year: When the end date of an academic year at a different institution falls on or after the start date of the student’s first academic year in Regent.

Internal Overlapping Academic Year: When two Academic Years in Regent Award have an overlap. For example, in a Regent Program Change or Track Change, when the end date of the Previous Academic Year (Program A) falls on or after the start date of the New Academic Year (Program B).

Term: For this page, a term is any Regent term that has a fixed term start date and term end date configured in Term Setup. The same behavior covers nonstandard term (NST) as well as standard terms and subscription periods.

Overlap End Term: The term in the New Academic Year that contains the end date of the Previous Overlap Academic Year. If the end date of the Previous Overlap Academic Year occurs between two terms in Regent Award, the Overlap End Term is the last Regent term containing at least one day from the Previous Overlap Academic Year.

Overlap Period: The first day of the first term of the New Academic Year through the last day of the Overlap End Term.

Second Loan Period: Any term(s) in the New Academic Year starting after the Overlap End Term.

Annual Limits: Maximum amounts of Subsidized and Unsubsidized Loans that can be awarded to a student during an Academic Year date range. Limits vary by student grade level and dependency status.

Detecting Overlapping AYs

During packaging, Regent Award will identify current and future Academic Years for term-based programs that have a previous Overlapping Academic Year (“OAY”).

A previous Overlapping AY:

• Has a specified date range, AY start date through an AY end date; and
• Has one or more Federal Direct Subsidized Loans and/or Federal Direct Unsubsidized loans within that date range; and
• The AY end date overlaps at least 1 day with a current or future Academic Year in a term-based program in Regent Award.

Sometimes, a previous OAY is very long, and the OAY dates overlap with multiple Regent AYs. In that situation, Regent applies the OAY dates and amount adjustments to only the first new Regent AY. Regent will designate the last term in that first new Regent AY as the OAY’s Overlap End Term. The Overlap Period will cover the entire first new AY, only.

• For example: A student had slow progression in their previous AY, and the previous OAY ends December 12, 2026. The first new overlapping AY in Regent, AY1, is September 1, 2023 to May 25, 2024. Regent would set the overlap period to cover all of AY1, and the overlap period end term will be the last term in AY1, Spring 2024. Regent will not make automatic adjustments to the loan amounts in AY2 or AY3.

Regent also has Tasks to alert users of previous OAYs crossing multiple AYs in Regent. See Regent Award Task Triggers.

Regent groups loans together in one OAY if the loans have the same school code and are within the same Academic Year date range. For example, if a student has two Subsidized loans and one Unsubsidized loan, and all three loans share the same AY dates and same school code, then Regent would track the three loans together in a single OAY.

Regent Award updates the OAY data whenever a student is packaged with Subsidized or Unsubsidized loans.

If a student’s data is changed, and a previous OAY no longer overlaps with the new Regent AY, Regent will no longer apply the OAY to that new AY. For example: An OAY is based on a loan that has AY dates overlapping a Regent student’s AY1. New FAH data is received, and the loan’s new AY dates do not overlap with the Regent AY1. Regent will update the OAY so it no longer actively affects the Regent AY1.

Internal and External OAY Types

OAYs are broadly divided into two types: Internal and External.

• Internal OAYs are when the previous AYs are within Regent Award on the student's Academic Plan. For example, a student might have two overlapping Academic Years in Regent due to a Track Change or a Non-Substantially Equal (NSE) Program Change.
• External OAYs are to account for a student's prior loans at another, non-Regent school. The previous loans have a FAID with a different Federal Direct Student Loan (FDSL) ID than the Regent school's program ID.

Adjusting Awards for OAYs

This section describes how Regent Award adjusts loan amounts when automatic adjustments are configured as enabled, and a student has an OAY affecting a term-based new AY in Regent.

Other Factors Affecting Loan Award Amounts

First, a reminder - Besides OAYs, many other factors can affect a student’s calculated loan eligibility. Regent Award will still apply those other limits when calculating Subsidized and Unsubsidized Loan amounts. A student may have reduced eligibility due to those other factors. Regent will use the lesser of the annual loan limit, or the otherwise reduced eligibility amount, for the starting point in loan calculations. 

For example, a few other common limiting factors are:

• Remaining COA, EFC, and/or Need
• The student is reaching their Aggregate limits
• Part of the Regent AY is ineligible for loans, and the fund is configured with certain settings for "Award Full Eligibility for Eligible Periods Only"
• The student accepted a lower amount from the Student Experience Portal

A disbursement’s Paid status might also affect whether Regent can adjust the loan amounts. For example, if a disbursement is paid before the OAY information is received, and the fund does not Allow Auto-Adjustment of Paid Disbursements, Regent would not automatically reduce the paid disbursement. 

Schools are encouraged to use Tasks to identify students and awards needing additional adjustments. See Regent Award Task Triggers.

OAY Overlap End Term, Overlap Period, and Second Loan Period

For each new Regent AY that has a previous OAY (internal or external), whenever a student is packaged with Subsidized and Unsubsidized Loans, then Regent will identify the Overlap End Term and Overlap End Term Date; the Overlap Period; and the Second Loan Period, if any.

Visual aid:

Overlap End Term and Overlap End Date: The latest term in the New Academic Year in Regent that contains at least one day on or before the end date of the Previous Overlapping Academic Year.

For example: A previous OAY has dates from September 20 to June 15. A student starts a new AY in Regent, starting with the Spring term. In Regent, the Spring term's dates are April 12 to June 30. The previous OAY ends during the Spring term. In that example, the Overlap End Term is the Spring term in the new Regent AY, and the Overlap End Term End Date would be the Spring term's end date of June 30.

Special case: If the Previous Overlap Academic Year end date occurs between scheduled term dates in the Regent AY, the Overlap End Term is the last affected term containing at least one day within the Previous Overlapping Academic Year.
For example: If the previous AY ends July 1 (just after the Regent Spring term's end date), and the Regent Summer term starts on July 5, then the Regent Spring term would be the last term with loan amounts affected by the Previous OAY loans. The Regent Summer term starts after the end date of the Previous OAY. The Summer term is not within the Overlap Period.

Overlap Period: The first day of the first term of the New Academic Year in Regent, through the last day of the Overlap End Term in the Regent AY. Note: the overlap period might be a single term, multiple terms, or it can be the full academic year in Regent. If the OAY dates extend beyond the new Regent AY end date, the overlap period is set to the full AY. Regent Award supports automation for adjusting loan amounts in the first new AY only.

Second Loan Period: Any terms in the Regent New Academic Year, where the terms start after the Overlap End Term.
Note: A student who has several terms in the AY might potentially have multiple, different loan periods after the Overlap period. For simplicity, the terminology “Second Loan Period” on this page refers to all those later loan periods within the same new AY, that occur after the Overlap End Term.

Awarding During the Overlap Period

The total amounts awarded in Regent during the Overlap Period, plus the amounts in the previous OAY, cannot exceed the annual limits for the new Regent AY.

When Regent calculates the maximum Subsidized and Unsubsidized loan amounts available in the Overlap Period, Regent will start with the student’s regular annual limits for the Regent AY and will subtract the Subsidized and Unsubsidized loan amounts already used from the previous OAY. That difference is the student’s remaining loan eligibility in the Overlap Period for the Annual Limits. Separately, Regent will still make adjustments for other factors (loan period COA etc.) Those other adjustments might cause the final loan amounts to be lower than the total remaining eligibility for annual limits.

Regent will still preserve balanced awarding across eligible terms throughout the AY whenever possible. If the normal (unadjusted) Regent loan amount calculations for the terms in the Overlap Period would already result in the same or lower amounts than the adjusted (reduced) loan amounts due to the Overlap, Regent will not award a short overlap-period loan. Instead, Regent will continue awarding loans in the regular loan periods. The awarded loans would continue for the normal loan period length, such as the full new Regent AY. The loan period would include terms in the Overlap Period and terms after the Overlap Period. The intent is to prevent Regent from awarding in short overlap loan periods that must be awarded up to COA, which could result in lopsided front-loaded loans for the new Regent AY.

Regent will only award loans for a separate Loan Period for the Overlap Period term(s) if the amounts in the Overlap Period must be reduced below what Regent would normally calculate for the Overlap term(s). Regent will still continue to check for the annual limit and check for any overlap adjustments every time the student is packaged with Subsidized and Unsubsidized loans. If Regent detects that the student must have reduced loan amounts below what Regent would normally award for the Overlap Period term(s), Regent will package Subsidized and/or Unsubsidized funds using that separate loan period that only covers the Overlap Period terms. Regent will then award the amounts for that separate loan period only.

Refer to Example #1a and #1b below.

Awarding During the Second Loan Period

Regent only automatically uses a separate loan period for awarding in the Overlap Period if the student’s remaining eligibility in those overlap term(s) would be lower than the normal Regent calculated award amounts. If the loans in the Overlap Period are on a separate Loan Period for the Overlap term(s), Regent must separately calculate loans for the remaining portion of the AY. That remaining portion of the AY after the Overlap Period is the “Second Loan Period.”

Note: The Second Loan Period might potentially be sub-divided into separate loan periods for other factors such as grade-level progression, below-half-time terms with “donut” scenarios, etc. For simplicity, these requirements will assume the “Second Loan Period” covers all eligible terms in the remaining portion of the new Academic Year after the Overlap Period ends.

When Regent calculates the maximum Subsidized and Unsubsidized loan amounts for the Second Loan Period, Regent will start with the student’s regular annual limits for the Regent AY and make any adjustments for other factors. Regent will then subtract the Subsidized and Unsubsidized loan amounts already awarded in Regent during the Overlap Period. That difference is the student’s remaining loan eligibility in the Second Loan Period. The total amount awarded in Regent during the Overlap Period, plus the amount in the Second Loan Period, cannot exceed the annual limits for the new Regent AY.

Refer to Example #2 and #3 below.

Total Awarding in the Regent AY and Annual Loan Limits

Finally, Regent also ensures the total of all Subsidized and Unsubsidized loan amounts in the new Regent AY do not exceed the annual limits.

Regent continues to calculate a student’s annual loan limits for Federal Direct Subsidized Loans and Combined (Subsidized and Unsubsidized) Direct Loans. The annual limits are determined using the student’s current program, grade level, and dependency status in the New AY in Regent.

Regent applies the annual limits for the total loans awarded in the new Regent AY, for the total loan amounts in the entire Regent AY. When configured, Regent will also adjust for the OAY data, to also apply the annual limits to the AY date range from the previous OAY start date through the end of the Overlap Period in Regent. When calculating loan usage toward the Annual Limits, Regent will include the previous OAY amounts for Subsidized and Unsubsidized loans along with the Regent loans during that Overlap Period.

Refer to Example #4 below.

Configuration

When Regent Award is configured to automatically adjust loan amounts for the OAY type (Internal or External), Regent will apply the OAY information when packaging Federal Direct Subsidized and Unsubsidized loans. When Regent is configured to not adjust loan amounts for OAYs, Regent will not automatically reduce the loan amounts in Regent AYs containing that OAY type. Regent also will not trigger the Tasks specific to that OAY type.

Configuration is managed in Institution Setup and inheritable to Campus Setup, see Institution Setup Data Elements and Campus Setup Data Elements. The configuration settings are:

• Internal OAYs: Adjust Loan Amounts for Overlapping Academic Years Within Regent for Program Changes and Track Changes into Term and NST Programs
• External OAYs: Adjust Loan Amounts for External Overlapping Academic Years with Loans from Other Schools

If Internal OAY adjustments are not enabled, Regent will still detect and track Overlapping Academic Years occurring within Regent Award. However, Regent will not automatically adjust loan amounts in a Regent Academic Year due to the previous Overlapping AY in Regent Award. Regent will not trigger the new Tasks for reviewing Internal OAY/loan information. See Regent Award Task Triggers.

If External OAY adjustments are not enabled, Regent will still detect and track the Overlapping Academic Years when NSLDS data is received from FAH or ISIRs and will trigger related preexisting Tasks. However, Regent will not automatically adjust loan amounts in a Regent Academic Year due to the previous External OAY. Regent also will not trigger the Tasks for reviewing External OAY/loan information. See Regent Award Task Triggers.

Permissioned users will still be able to create Manual OAYs. However, if automated adjustments are not enabled for that OAY type, Regent will not use that Manual OAY data for automated adjustments. Permissioned users may still make manual adjustments to loans using the Add/Modify Award Wizard.

Overrides and Assumed AY Dates

In general, Regent uses the following precedence order for applying OAY dates:

1. Regent first checks for any user-entered override values for amounts and dates; see below section for New Overlapping AYs sub-tab and Manual OAY Entry.
   1. If any OAY is marked Inactive, Regent does not adjust for that OAY.
   2. If any OAY contains Override AY Start/End dates, Regent substitutes those Override values during packaging. Other dates are disregarded.
2. For Internal OAYs, Regent will use the AY dates from Regent Award.
   1. The Regent AY dates use the R2T4 Override AY End Date (if present), the Manual AY dates (if any), and then the Regent AY dates from the Academic Plan.
3. For External OAYs, Regent uses the latest information from NSLDS FAH data, based on the underlying loan information from the Loan Aggregate Detail data.
4. If an ISIR-only OAY has no AY dates except Assumed AY dates, Regent will substitute those Assumed dates instead of the AY dates.

Assumed OAY Dates for ISIR Data

Unlike NSLDS FAH data, ISIR-only NSLDS data does not have AY dates. Therefore, Regent uses special logic to estimate or "assume" the Academic Year dates for external OAYs received in ISIR data. The “Assumed OAY” logic is used when an external loan exists in a student’s ISIR NSLDS loan details, but the loan period does not fall within an existing AY for that school code in the NSLDS FAH data already in Regent.

If a student has a Subsidized or Unsubsidized loan in the ISIR data only, Regent assumes an estimated Academic Year length, as follows:

1. Regent sets the OAY Assumed AY Start Date to the Loan Period start date.
2. Regent set the OAY Assumed AY End Date to the later date of:
   1. 210 days, starting on the Loan Period date; or,
   2. if the Loan Period end date is greater than 210 days, the end date of the Loan Period.

For example: An ISIR-only Unsubsidized Loan has a loan period starting January 1, 2023. The Assumed AY Start Date is January 1, 2023. If the Loan Period ends on or before July 29, 2023, the Assumed AY end date would be at least 209 days later, July 29, 2023. However, if the ISIR Loan End Date was September 6, 2023, Regent would instead set the Assumed AY end date to September 6, 2023.

If the Assumed AY dates overlap with a current or future new Regent AY, Regent will track the AY as an External OAY. During packaging, Regent Award will track and package the external OAY using the Assumed OAY dates.

Replacing Assumed OAY Dates with FAH AY Dates

When new NSLDS FAH data is available for a student who has an Assumed OAY, the system will evaluate the Assumed OAY dates, to try to replace them with AY dates from the NSLDS FAH data.

1. Regent will first try to match the ISIR loan to an existing loan in the FAH data, using the existing matching logic for the Loan Aggregate Detail table.
2. If no direct match is found, Regent will try to find an AY from the same school that has an AY date range that could hold the Loan Period.
   1. Regent will compare the attended school code and loan period dates to the attended school codes and Academic Year dates in the FAH loans.
   2. If the ISIR-only loan matches the attended school code, and the ISIR’s loan period falls within the Academic Year date range for the FAH loans from that school, Regent will populate the AY dates with the matched AY date range.
3. If the ISIR-only loan cannot have its AY dates populated with FAH data, Regent will keep the Assumed AY dates in place.
4. If the loan is successfully linked to FAH data and populated with AY dates:
   1. Regent will clear the Assumed AY Dates.
   2. Regent will record an Activity Log Entry for the change.
5. Regent Award will reevaluate the OAY data whenever a student is packaged or repackaged with Subsidized or Unsubsidized loans.
6. If a student’s data is changed, and a previous OAY no longer overlaps with the new Regent AY, Regent will no longer consider that new AY to be in an overlap scenario.
   1. For example: An OAY is based on a loan that has AY dates overlapping a Regent student’s AY1. New FAH data is received, and the loan’s new AY dates do not overlap with the Regent AY. Regent will update the OAY so it no longer actively affects the Regent AY1.

Examples for OAY Awarding

The following scenarios explain Regent's calculated amounts.

Example #1a: Three-term Regent AY, Normal Loan Amounts Already Lower

Example: Regent’s normal per-term amounts for each of three terms in a full-AY loan would already be lower for a single overlap term, so Regent does not award loans on a separate loan period for the single Overlap Period term.

A second-year Independent student in Regent would normally have a $4500 annual Subsidized limit and a combined limit of $10,500. In the Overlap Period, the student has a previous OAY that used only $500 in Subsidized loans and $750 in Unsubsidized loans. Regent would evaluate those previous OAY amounts to see if they would limit the potential maximum amounts that Regent can award during the Overlap Period.

• Sub: Regent could award no more than the remaining $4000 in Subsidized loans during the Overlap Period: $4500 annual Subsidized limit - $500 OAY Subsidized = $4000 remaining Subsidized for the Regent Overlap Period
• Unsub: Regent could award no more than the remaining $9250 Combined (Subsidized + Unsubsidized) in Unsubsidized loans in the Overlap Period: $10500 annual Combined limit - $500 OAY Subsidized - $750 OAY Unsubsidized = $9250 Combined (Sub + Unsub) remaining to award in Regent for the Overlap Period

If the student has a three-term BBAY in Regent, Regent would normally award evenly across the three terms with 1500+1500+1500 Subsidized loans, and 2000+2000+2000 in Unsubsidized loans.

Because the AY has an overlap, Regent must additionally evaluate the amounts in the Overlap Period terms to see if Regent can award those normal loan amounts.

When any Subsidized awards are packaged, and the Subsidized awards also include the term covered by the Overlap Period, Regent Award will check that the OAY and Overlap period awarding (in the single Spring 2022 term) do not exceed the $4500 total second-year Subsidized annual limit.

• The normal, unadjusted Subsidized amount would be $1500 in the Spring term. $500 OAY Subsidized + $1500 Regent Subsidized = $2000 total Subsidized in the Overlap period. 
• $2000 is less than the annual limit of $4500, so Regent will keep the preexisting award amounts from the three-term, AY-long loan. Regent does not need to create a separate new single-term loan for the Overlap Period.

When any Unsubsidized awards are packaged, and the Unsubsidized awards include the term in the Overlap Period, Regent Award will check to see that the OAY and Overlap period awarding (in the single Spring 2022 term) do not exceed the $10500 total Combined annual limit.

• The normal, unadjusted Combined amount in the Spring term would be $3,500 total: $1500 Sub and $2000 Unsub.
• After the Sub adjustment calculations above, Regent can still award no more than $4000 in Sub loans and $9250 Combined loans during the Overlap Period.
• $500 OAY Sub + $750 OAY Unsub + $1500 Regent Sub + $2000 Regent Unsub = $4750 total combined
• $4750 is less than the $10500 annual limit, so Regent does not need to reduce the $2000 Unsubsidized amount. Regent will keep the original three-term Unsub loan that includes all the terms in the AY. The year-long loan will cover the Overlap Period time range as well as the Second Loan Period.

Example #1b: Two-term Regent AY, normal loan amounts are still lower

If the same student (from example #1a) had the same Overlap amounts as in #1a above, but had two terms in the Overlap Period: Regent’s normal amounts are still lower for two overlap terms, so Regent still does not award loans on a separate loan period for the Overlap Period terms:

A second-year Independent student in Regent would normally have a $4500 annual Subsidized limit and a combined limit of $10,500. In the Overlap Period, the student has a previous OAY that used $500 in Subsidized loans and $750 in Unsubsidized loans. Those previous OAY amounts will limit the potential maximum amounts that Regent can award during the two-term Overlap Period.

• Sub: Regent could still award no more than the remaining $4000 in Subsidized loans during the two-term Overlap Period:$4500 annual Subsidized limit - $500 OAY Subsidized = $4000 remaining Subsidized for the two-term Regent Overlap Period.
• Unsub and Combined: Regent could still award no more than the remaining $9250 Combined (Subsidized + Unsubsidized) in Unsubsidized loans in the two-term Overlap Period: $10500 annual Combined limit - $500 OAY Subsidized - $750 OAY Unsubsidized = $9250 Combined (Sub + Unsub) remaining to award in Regent for the Overlap Period

If the student has a three-term BBAY in Regent, Regent would normally award across the three terms with 1500+1500+1500 Subsidized loans, and 2000+2000+2000 in Unsubsidized loans. Because the AY has an overlap, Regent also will evaluate the Overlap Period terms to see if Regent can award those loan amounts.

Sub: When any Subsidized award is packaged, and the Subsidized award has at least one term within the Overlap Period, Regent Award will additionally check that the OAY and Overlap period awarding (in this case, the two overlapping terms for Spring 2022 and Summer 2022) do not exceed the $4500 total Subsidized annual limit.

• The normal, unadjusted Subsidized amount would be $1500 in the Spring term and $1500 in the Summer term.
• $500 OAY Subsidized + $1500 Regent Subsidized Spring + $1500 Regent Subsidized Summer = $3500 total Subsidized in a two-term Overlap period
• $3500 is still less than the annual limit of $4500, so Regent will keep the preexisting award amounts from the AY-long loan. Regent does not need to create a separate new two-term loan for the Overlap Period.

Unsub and Combined: When any Unsubsidized award is packaged, and the Unsubsidized award has at least one term in the Overlap Period, Regent Award will check to see that the OAY and Overlap period awarding (again, in Spring 2022 and Summer 2022) do not exceed the $10500 total Combined annual limit.

• For regular three-term awarding, the normal, unadjusted Combined amount in the Spring and Summer terms would be $7000 total: $3000 Sub and $4000 Unsub.
• After the annual limit adjustment calculations, Regent can still award up to $4000 in Sub loans and $9250 Combined loans during the Overlap Period.
• $500 OAY Sub + $750 OAY Unsub + $3000 Regent Sub + $4000 Regent Unsub = $8250 total
• $8250 is less than the $10500 annual limit, so Regent does not need to reduce the $4000 Unsubsidized amount. Regent does not need to create a separate new two-term loan for the Overlap Period. Regent will keep the three-term Unsub loan that includes all the terms in the AY, crossing the Overlap Period time range as well as the Second Loan Period.

Example #2: Adjusted amounts, where Regent must create a separate loan period for the Overlap Period terms because the Overlap Period has reduced remaining eligibility:

1. Example #2: Adjusted amounts, where Regent must create a separate loan period for the Overlap Period terms because the Overlap Period has reduced remaining eligibility:
   1. A second-year Independent student in Regent would normally have a $4500 annual Subsidized limit and a combined limit of $10,500.
   2. In the Overlap Period, the student has a previous OAY that used $3375 in Subsidized loans and $4500 in Unsubsidized loans. Those previous OAY amounts will limit the potential maximum amounts that Regent can award during the Overlap Period.
   3. Regent could award no more than the remaining $1125 in Subsidized loans during the Overlap Period:
      1. $4500 annual Subsidized limit - $3375 OAY Subsidized = $1125 remaining Subsidized for the Regent Overlap Period
   4. Regent could award no more than the remaining $2625 Combined (Subsidized + Unsubsidized) in Unsubsidized loans in the Overlap Period:
      1. $10500 annual Combined limit - $3375 OAY Subsidized - $4500 OAY Unsubsidized = $2625 Combined (Sub + Unsub) remaining to award in Regent for the Overlap Period
   5. If the student has a three-term BBAY in Regent, Regent would normally award across the three terms with 1500+1500+1500 Subsidized loans, and 2000+2000+2000 in Unsubsidized loans.
      1. However, because the AY has an overlap, Regent must evaluate the Overlap Period to see if Regent can award those loan amounts. Because the student has lower remaining eligibility than what Regent would normally award, Regent must create separate loans, on a separate loan period that only covers the Overlap Period term(s).
   6. If any existing Subsidized awards were already packaged in the Overlap Period, Regent Award will additionally check that the OAY and Overlap period awarding (in the single Spring 2022 term) do not exceed the $4500 total Subsidized annual limit.
      1. The normal, unadjusted Subsidized amount would be $1500 in the Spring term.
      2. $3375 OAY Subsidized + $1500 Regent Subsidized = $4875 total Subsidized in the Overlap period

• $4875 is more than the allowed $4500 total, so Regent must reduce the existing Subsidized amount by $375, to award only $1125 Subsidized in Regent during the Overlap Period.

1. Regent would create a separate Subsidized Loan award on a loan period that only covers the overlap period’s term(s).

1. If any existing Unsubsidized awards were already packaged in the Overlap Period, Regent Award will check to see that the OAY and Overlap period awarding (in the single Spring 2022 term) do not exceed the $10500 total Combined annual limit.
   1. The normal, unadjusted Combined amount in the Spring term would be $3,500 total: $1500 Sub and $2000 Unsub.
   2. However, after the adjustment calculations above, Regent could award only $1125 in Sub loans and $2625 Combined loans during the Overlap Period.

• $3375 OAY Sub + $4500 OAY Unsub + $1125 adjusted Regent Sub + $2000 unadjusted Regent Unsub = $11000 total

1. $11000 is more than the $10500 annual limit, so Regent must reduce the $2000 Unsubsidized amount by $500, to award no more than $1500 Unsubsidized in Regent during the Overlap Period.
2. Because of the reduced eligibility during the Overlap Period, Regent would create the separate Unsubsidized Loan award on the loan period that only covers the overlap period’s term(s).

1. The Subsidized and Unsubsidized awards would be created and packaged on the new, shorter Loan Period that only covers the eligible terms in the Overlap Period. Other loan period constraints, such as remaining COA, could further limit the amounts that could be awarded in that Loan Period.
   1. For the example, Regent would award $1125 Sub and $1500 Unsub for a single-term loan period for the Spring term only.

Example #3: Adjusted amounts in the Second Loan Period

Example 3: Continuing the example student from the above example #2 who had reduced remaining eligibility in the Overlap Period, and Regent awarded reduced-amount Subsidized and Unsubsidized loans on a separate loan period for the Overlap Period single Spring term:

1. The second-year Independent student in Regent would normally have a $4500 annual Subsidized limit and a combined limit of $10,500, awarded over a three-term BBAY of Spring, Summer, Fall.
2. The Overlap Period was the Spring term only.
3. Calculate remaining Subsidized eligibility in the AY for the Second Loan Period:
   1. If Regent awarded the student a $1125 Subsidized loan in the Overlap Period, the remaining Subsidized eligibility is $4500 - $1125 = $3375 Subsidized loans
   2. Regent could award no more than the remaining $3375 in total Subsidized loans for the remaining two terms in the Second Loan Period.

• If the amount can be evenly distributed, the Subsidized loan would have $1687 in the Summer term, and $1688 in the Fall term.

1. Calculate remaining Combined eligibility in the AY for the Second Loan Period:
   1. Assume Regent awarded the student $1125 in Subsidized loans in the Overlap period, and $3375 Subsidized in the Second Loan Period, for a total of $4500 Subsidized loans in the Regent AY.
   2. $10500 annual Combined limit - $1125 Overlap Subsidized - $3375 Second Loan Period Subsidized = $6000 remaining Unsubsidized that can be awarded in Regent, across the whole AY.

• If Regent awarded the student $1500 Unsubsidized during the Overlap Period, the remaining Unsubsidized eligibility in the Second Loan Period is $4500:
  1. $10500 annual Combined limit - $1125 Overlap Subsidized - $3375 Second Loan Period Subsidized - $1500 Overlap Unsubsidized = $4500 remaining Unsubsidized for the Second Loan Period

1. Regent could award no more than the remaining $4500 in total Unsubsidized loans for the remaining two terms in the Second Loan Period.
   1. If the amount can be evenly distributed, the Unsubsidized loan would have $2250 in the Summer term, and $2250 in the Fall term.

Example #4: Calculating Total Amounts in New Regent AY

1. Continuing the same example student from #2 and #3, assuming the loans were all awarded to their maximum eligibility for annual limits:
   1. $1125 Overlap Subsidized + $3375 Second LP Subsidized = $4500 total Subsidized in AY
   2. $1125 Overlap Subsidized + $1500 Overlap Unsubsidized + $3375 Second LP Subsidized + $4500 Second LP Unsubsidized = $10,500 total Combined in AY
   3. The total amounts in the Regent AY do not exceed the second-year student’s annual limits of $4500 Subsidized and $10,500 Combined.

OAY Tasks

The following Tasks support Overlapping Academic Years. OAY Tasks caused by data changes within Regent are Internal Tasks. Tasks that are caused by data changes outside of Regent are External tasks.

For more details on each of these tasks, refer to Regent Award Task Triggers.

Internal OAY Tasks may be triggered if the configuration setting is "Yes" for 'Adjust Loan Amounts for Overlapping Academic Years Within Regent for Program Changes and Track Changes into Term and NST Programs'

• Review New Internal Overlapping Academic Year Crossing Multiple Regent Academic Years
• Review Manual Subsidized or Unsubsidized Loan in Previous Overlapping AY

• Review Manual Subsidized or Unsubsidized Loan in Same AY as Internal OAY

• Review Manual OAY with Possible Duplicated New Internal OAY

External OAY Tasks may be triggered if the configuration setting is "Yes" for 'Adjust Loan Amounts for External Overlapping Academic Years with Loans from Other Schools'

• Review New External Overlapping Academic Year Crossing Multiple Regent Academic Years

• Review Manual Subsidized or Unsubsidized Loan in Same AY as External OAY

• Review External ISIR-Only OAY with Assumed AY Dates

• Review Manual OAY with Possible Duplicated New External OAY

• Review Manual OAY for New Information Received

Updated Tasks - these Tasks will not additionally trigger if any OAY Task was already triggered for an affected award

• Review Manual Award

• Review Eligibility Change

• Review Overlapping Period for Overaward

An additional Task supports identifying individual loans that have an override value on the amount, and new information is received for the loan. That task is not specific to OAYs, but it may be useful in identifying underlying loan changes that could affect OAY amounts.

• Review Override Loan Value

Change Log