Frederick, MD – Regent Education, the leading provider of financial aid solutions and services for higher education institutions using non-term, nonstandard term and traditional-term academic years, further advances its Regent Award Financial Aid Management (FAM) solution with the certification of Release 4.2.
With Release 4.2, Regent Award is the first financial aid management solution that supports automated awarding of Federal Pell Grant funds up to 150 percent. Release 4.2 also provides timely standard 2018-2019 regulatory updates, and offers new features and functionality designed to further advance financial aid processing automation.
“Beyond ensuring compliant support for the latest federal regulations, Release 4.2 enables clients to make advanced efficiency gains via new, innovative automation,” reports Sharon Clough, Vice President of Financial Aid Compliance. “As just one example, Release 4.2 includes the option to have any Title IV (non-work-study) awards determined to be ineligible for R2T4 cancel automatically. This results in significant time savings, minimizing manual efforts and affording the financial aid team time to focus on higher-value initiatives.”
Additional advanced automation offered in Release 4.2 includes the ability to export and import Document, Term, Program and Program Group configurations, giving customers the ability to update these key configuration items en masse. It also includes increased integration between Regent Award, Common Origination and Disbursement (COD) and Accounts Receivable. This improvement allows clients to override Regent Award’s checks and balances on an exception basis to authorize payment of Title IV directly via COD-on-the-web, and automatically exports from Regent Award to the Accounts Receivable system using the standard interface between Regent Award and the student accounts system.
More information about Regent Education can be found at www.regenteducation.com.