SCT Banner Financial Aid / Release Guide / 7.0

Section 12 Open-Learning Registration Support - Functional
SCT Banner Changes
program -- may not be included in the calculation of enrollment for Federal
Aid. You now have the ability to exclude specific courses, which may not be
eligible for financial aid purposes.
• Schedule disbursement based on a student’s schedule.
Both Open Learning and part-of-term courses start at varying times within the
default term or payment period. The disbursement schedule of the student
reflects the appropriate day the funds will be paid for both administrative users
and the student accessing the information via the Student Self Service, Voice
Response, and Kiosk products.
The option to schedule the student’s disbursement of aid based on the date the
student actually begins the course work is now provided.
Anticipated disbursements for Pell and Federal Loans must be reported within
the appropriate time frame prior to funds being paid to the student. In order
to accomplish this, the scheduled disbursement of funds reflects the date the
funds will be paid based on the student's enrollment for Pell. For FFEL loans,
the scheduled disbursement date is estimated when submitted in the loan
application process. However, the ability to request a release of funds within
the appropriate time frame has been provided.
Note: The update of the scheduled disbursement date is included in the Pell
reporting process to ensure only disbursements within the defined justin-time
number of days for advanced pay are reported.
The Hold/Release process now includes the ability to submit a Release Request
only for disbursements within a specified date range.
• Disburse financial aid based on the hours a student is currently attending.
Previously, many SCT Banner users utilizing part-of-term functionality had to
manually monitor and adjust a student’s hours in order to control the timing
of disbursement. Although they have determined the student’s enrollment
based on a specified date (that is, cutoff date), disbursement of funds may be
conditioned by the number of hours the student is actually attending.
For example, a student enrolls as full time at 12 hours but 6 hours do not start
until 8 weeks into the full term. Therefore, scheduling of disbursement as halftime
at the start of the term and full-time when the additional 6 hours begin is
desired. With the ability for the student to now select an individualized start
date for a class, this issue is compounded.
The ability to disburse financial aid based on the courses, which the student is
attending, is now provided. This option occurs at the fund level to allow
institutions the ability to pay aid based on the term/payment period
enrollment or at the enrollment load for courses currently attending at the
time of disbursement. This calculation also includes only courses that can be
counted towards enrollment for Financial Aid.
• Define a student’s date-based period of attendance, including reporting of
Date-Based period of attendance functionality.
SCT Banner Financial Aid currently offers the ability to establish various aid
periods and the appropriate percentage of an academic year. However,
identifying students had been an issue.
January 2005 Financial Aid Release 7.0
Confidential Release Guide 175