Direct Loan Attendance Cost Calculates Based on Academic Cost of Attendance (COA) for Loans Awarded Only in Non-Standard Period (Summer) or Across Both Award Periods (Doc ID 2862600.1)

Last updated on JANUARY 25, 2024

Applies to:

Symptoms

The new Direct Loan Attendance Cost field - LOAN_ORIGNATN.FED_YEAR_COA, as viewable on the Application Financial tab of the Manage Direct Loan Application Component - is being calculated based on the Academic COA even for loans originated only for the term(s) in the Non-Standard award period, or for loans awarded across both award periods.  

The Direct Loan Attendance Cost needs to calculate using, at minimum, COA the award was based on - which will be the Non-Standard COA for a Direct Loan (DL) Item Type awarded for only the non-standard (Summer) term; or the sum of the Academic plus Non-Standard COA for an item type awarded across both award periods.

If there is no Academic COA calculated at all, then Origination will correctly use the Non-Standard COA for the Direct Loan Attendance Cost. However, there may be other scenarios where a student only has a minimal Academic COA that is less than the amount of the loan, which will cause COD to reject the record with edit 226.

The issue can be reproduced at will with the following steps:

1. Budget a student for both academic and non-standard terms, such that Academic COA < Non-Standard COA. Adjust term budgets as necessary on Financial Aid > Budgets > Maintain Term Budgets > Student Budget Maintenance.
2. On Financial Aid > Awards > Award Processing > Assign Awards to a Student > Student Aid Package, award the student a DL item type, using a disbursement plan containing only the leading non-standard summer term, for an amount less than the Academic COA as seen on Financial Aid > Awards > Award Processing > Assign Awards to a Student > Need Summary.
3. Run Loan Origination for the student on Financial Aid > Loans > Process Loans > Loan Origination.
4. Navigate to Financial Aid > Loans > Direct Lending Management > Manage Direct Loan Application > Application Financial, and note the Direct Loan Attendance Cost field shows the amount of the academic COA (not non-standard) and less than the originated loan amount.

Changes

The issue is seen after applying the 2022-2023 AID YEAR COD UPDATE: COMMON COD OBJECTS patch, which delivered new functionality to produce and display the Direct Loan Attendance Cost tag and field.

Cause

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