Student's EFC Amount is Not Calculating Correctly In the 2024-2025 Year, As Shown on the Need Summary Page (Doc ID 2992547.1)

Last updated on APRIL 12, 2024

Applies to:

Symptoms

When calculating the IM EFC using the 'INAS' button on Maintain Application 2024-2025, the calculated amount shown on the Need Summary page is not correct for some students.  

While this issue does not occur for all students, it has been identified the issue occurs when the Institutional EFC is set to Greatest.  In some, but not all reported cases, changing the Institutional EFC to Estimated Federal does allow the EFC to calculate correctly.  

The following scenarios have been reported to occur when using Institutional EFC = Greatest:

• Students who have AesaChildren, CesaAges, AesaAllowance correctly calculate the EFC amount;
• When the IM > EFM and all the student and parent contributions are a positive number OR the student EFM is a negative number the EFC is zero;
• When the EFM > IM and all the student and parent contributions are a positive number, the EFC is updated correctly;
• When the IM > EFM and the student EFM is a negative number, the EFC is zero;
• When the EFM > IM and the student EFM is a negative number, the EFC on the need summary screen counts the parent EFM and treats the student’s negative EFM as a zero.

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

1. Navigate to Financial Aid, Institutional Application Data, Maintain Application 2024-2025;
2. Select a student;
3. Click on the Computation Summary tab;
4. Click the INAS button;
5. Click on the Need Summary link;
6. Note the EFC amount calculated is not updated for some students.
   
   
   
   

Changes

 Patch 35266241 - 2024-2025  AID YEAR SETUP FOR INSTITUTIONAL METHODOLOGY (IM) was applied.

Cause

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.