Frederick, MD – Regent Education recently has enhanced the functionality of its Regent Award Financial Aid Management Solution with the upgrade to Release 3.5. This release provides support for the 2017-2018 Prior-Prior Year (PPY) ISIR processing, development of select overrides and data view capabilities, and State fund application processing and submission of e-ASFA (similar to the FAFSA).
“We are very pleased with the latest iteration of our upgrades, Release 3.5, for the Regent Award solution,” said Ron Dinwiddie, Vice President of Product Management at Regent Education. “Key support features have been added that will continue to enhance our product’s functionality for end users. We look forward to continuing to enhance a product that saves financial aid management teams time and money.”
2017-2018 Regulatory Updates included in the release are:
- ISIR processing and corrections export
- Verification tracking group bar updates to ISIR tab and ISIR wizard
- SAR comment code updates
- Reject code updates
- EFC calculation formula updates
- Updates to TEACH amounts for federal sequestration
- Handling of certain tax documents
- Institutionally-required solution for C-code 399 to block 16/17 disbursements
- ISIR – Conflicting Information report
Select overrides that are now configurable with the release include: course override, delete and restore, and disbursement eligibility override functionality. The easy-to-use course override functionality gives financial aid administrators the ability to selectively overwrite necessary data updates resulting from inconsistencies in the upstream of administrative student data. Supporting disbursement override functionality provides the ability to update disbursement release rules, which allows for more rapid disbursement of students’ financial aid awards when encountering select legacy-award scenarios. Additionally, advanced auditing features have been added to ensure compliance, complementing these new functionalities.
Regent’s e-ASFA was developed to provide students with a simple and straightforward online state financial application similar to the FAFSA. This functionality will be used for the Washington Student Achievement Council and Oregon State grant applications for undocumented students who might be eligible for State aid. With e-ASFA, student’s answers are used to calculate student’s EFC in accordance with the federal methodology and are kept current on an annual basis. Oregon and Washington become the second and third states benefitting from these areas of Regent automation for their undocumented student populations.
Regent Award is the industry’s only financial aid management solution to fully support non-traditional enrollment models, including: borrower based, non-term and competency-based. As institutions move to more flexible and student-centric learning models, they are faced with the need to move away from traditional models that are time-bound—something that cannot be supported by other financial aid management solutions. With Regent Award, schools have the flexibility they need to offer any enrollment model, while also driving efficiency, compliance and service through advanced automation.
External product briefs, FAQs, and webinars offering detailed overviews of the enhancements will be provided to affected clients.
More information about Regent Education can be found at http://www.regenteducation.com.