A Scholarship Reduces the Future Disbursement of a Grad PLUS Loan, but the Split Code is not Updated to the Custom Split Code of 'XX'
(Doc ID 3062582.1)
Last updated on DECEMBER 06, 2024
Applies to:
PeopleSoft Enterprise CS Financial Aid - Version 9.2 and laterInformation in this document applies to any platform.
Symptoms
When a student has been awarded a Graduate PLUS Loan, and when a new award is entered for the student, the spring disbursement of the loan is reduced as expected, but the disbursement split code remains as the default split code defined on the FA Item Type.
It is expected that the 'XX' split should be used; which will alert end users that the disbursements are not equal for the accepted award amount.
The issue can be reproduced at will with the following steps:
1. Award student a federal Graduate PLUS Loan to meet the Cost of Attendance.
2. Validate, post and disburse the first disbursement of the item type.
3. Award student a 'conditional' scholarship for 1000.00. The scholarship MUST be entered with a sequence number BEFORE the Graduate PLUS Loan. Validate and post the award.
4. Note that the second disbursement of the loan is reduced by the amount of the scholarship, but the split code is the same of the original award.
Cause
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In this Document
Symptoms |
Cause |
Solution |
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