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Section 28 Multi-Award Year Perkins MPN - Functional
Changed Processes and Reports
from the Satisfied Date (RRRAREQ_SATISFIED_DATE) and the Date of the First
Disbursement for MPN (RRRAREQ_MPN_FIRST_DISB_DATE) updated with
the RPRAWRD_PAID_DATE.
If Perkins MPN Expiration Date (RRRAREQ_PERK_MPN_EXP_DATE) is not after
the earliest Disbursement Date for the Perkins fund
(RPRADSB_SCHEDULE_DATE), the following error message displays: **ERROR
** Student required to complete Perkins MPN.
The Perkins MPN Expiration Date will be updated at the time of Disbursement
(payment), because making a loan represents the first disbursement for loan funds.
If no disbursements are made within 12 months after the borrower signs the MPN,
the Perkins MPN is not valid for subsequent disbursements (Inactive).
The Perkins MPN expires on the earliest of these dates:
• The date the school receives from the borrower written notice that no further
loans may be made under the MPN;
• Twelve months after the date the borrower signs the MPN, if no disbursements
are made under the MPN; or
• Ten years after the date the borrower signs the MPN or the date the school
receives the MPN.
• Disbursement Amount is backed out to zero.
If the MPN First Disbursement Date (RRRAREQ_MPN_FIRST_DISB_DATE) is within
the current aid year (ROBINST_AIDY_START_DATE and ROBINST_AIDY_END_DATE),
and the Total Paid Amount (RPRAWRD_PAID_AMT) is backed out to zero, then the
MPN First Disbursement Date is updated to null, and the Expiration Date
(RRRAREQ_PERK_MPN_EXP_DATE) is set to 12 months from the Satisfied Date
(RRRAREQ_SATISFIED_DATE).
Batch Posting Process (RORBPST)
Modifications to this process include:
• Adding Logic When the Satisfied Status is Updated.
The process when updating Satisfied Status (RRRAREQ_SAT_IND) now has
additional Multi-Award Years Perkins MPN processing. This is only required
for Institutions using this MPN and Tracking Requirements identified
designated as Perkins MPN.
If no disbursements have been made under this promissory note (that is,
RRRAREQ_MPN_FIRST_DISB_DATE is null), when the Satisfied Indicator
(RRRAREQ_SAT_IND) is Yes , the following are updated:
• Satisfied Date (RRRAREQ_SATISFIED_DATE), with the Requirement
Status Date (RRRAREQ_STAT_DATE), and
• Expiration Date (RRRAREQ_PERK_MPN_EXP_DATE) to one year from
Satisfied Date (RRRAREQ_SATISFIED_DATE).
January 2005 Financial Aid Release 7.0
Confidential Release Guide 363