Student Financing Review and Acceptance
Student financial aid review and acceptance
Students can review and accept their financial financing in the student portal by navigating to financial aid status. For federal loans, students may accept a lower amount or decline them. Students may not change amounts for non-loan awards. Once accepted, the award status can be automatically updated if desired (e.g. changed to Verified).
Once a student has accepted financing, the accepted amounts are locked from the student's perspective until the student is either repackaged, a scheduled amount has been manually updated by an administrator for the student to re-accept, or the administrator manually clears the student's acceptance of their aid. The amount of aid accepted for loans will change the scheduled amount that will be used for the COD Origination and Disbursement Exports.
To meet federal guidance on electronic acceptance, the user ID who accepted the financing, the timestamp, and IP address are recorded.
Disbursements can still be exported regardless if aid has been accepted or not electronically.
If an administrator repackages a student through F/A Packaging, or if an administrator changes a scheduled amount manually before origination, the Acceptance will be cleared; as a student is required to re-accept their loans when the amounts are adjusted.
Prerequisites
Import ISIRs and package students.
Required permissions
Module | Number | Description |
|---|---|---|
System Admin | 465 | Change instructions shown to students accepting financing |
System Admin | 293 | Configure Campus Cafe to automatically update award status on acceptance |
My Info | 2021 | Allows an administrator to clear a student’s acceptance of awards |
My Info | 2022 | Allows a student or an administrator to accept a student’s awards from the Financing Review screen. Set to NA to prevent students from electronically accepting awards and remove the Accept Plan button. |
Change instructions show to students
You can add informational text above the student’s awards, to the pop-up shown to students visiting review financing and to the conformation box shown when students accept their awards.
Text above awards
This texts shows above the student’s list of awards.
Go to Admin > Adjustable Text.
In Search enter FIN_AID_STATUS_AWARD_TEXT.
Click on the pencil.
In Value (the large box) enter the text (HTML supported).
Click Save.
Go to Admin > Refresh Data Cache.
Instructional pop-up
This text appears on the Review Financing pop-up when you initially visit the page.
Go to Admin > Adjustable Text.
In Search enter FA_ACCEPT_INST.
Click on the pencil.
In Value (the large box) enter the text (HTML supported).
Click Save.
Go to Admin > Refresh Data Cache.
Force pop-up for every visit
When a student or administrator first sees the instructional pop-up, they can select a box to prevent the pop-up from appearing again in the future. You can disable this box thereby requiring students and administrators to see this information every time they visit the page.
Go to Admin > Adjustable Text.
In Search enter FA_ACCEPT_INST.
Click on the pencil.
In Value (the large box) after all other code enter the below HTML.
<style> #noshowagain { display:none; } #noshowagain + label{ font-size: 0px; } </style>Click Save.
Go to Admin > Refresh Data Cache.
Accept plan confirmation pop up
When a student clicks Accept Plan, Campus Cafe displays a pop-up with information before asking the student to confirm their acceptance. You can change the text that appears on this confirmation pop-up.
Go to Admin > Adjustable Text.
In Search enter FA_ACCEPT_CONFIRM1.
Click on the pencil.
In Value (the large box) enter the informational text (HTML supported).
Click Save & Back.
In Search enter FA_ACCEPT_CONFIRM2.
Click on the pencil.
In Value (the large box) enter the text that appears next to the check box (HTML supported).
Click Save.
Go to Admin > Refresh Data Cache.
Allow student to adjust award amount
You can tell Campus Cafe to allow students to accept an amount less than the total award. This is typically permitted for student loans where students may wish to accept a lower amount than offered.
Students may accept a lesser amount only for awards configured with a Packaging Award Type starting with DL for direct loan.
View an award code type
Go to Financials > F/A Code Maintenance.
Review the Packaging Award Type column. Awards with a type starting with DL may be accepted for an amount lower than the total award.
Automatically update award status on acceptance
When a student accepts their awards, you can have Campus Cafe automatically update the award status of the accepted awards.
Go to Admin > Custom Control.
In Search enter FA_ACCEPT.
Click the pencil.
In Parameter Value 1 enter the desired value for the award once a student accepts their aid. For example, if you enter V then when a student accepts their aid for the year, the awards would receive a Verified status and would then show and calculate on the student's statement as verified.
If the value is left blank, no update to the award status takes place.Click Save.
Go to Admin > Refresh Data Cache.
Accept financing
Students
If you choose to allow students to accept their awards within Campus Cafe, ask them to follow these steps.
Go to My Info > FinAid Status. (You may choose to link to this screen from the student portal.)
In Current Year select a financial aid year.
Awards that may be accepted at a lower amount appear with a pencil. If desired, click the pencil and enter a lesser amount. If you don’t want to accept the award, enter 0.
To comply with federal guidelines, if a student requests a Subsidized loan amount lower than the original package amount, the student is ineligible to receive Unsubsidized loans and will automatically zero/cancel out the Unsubsidized loan after displaying a warning to the student.Click Accept Plan.
Review the confirmation text, select the confirmation box and click Accept. The Accepted Scheduled Amount updates on the administrative side, and locks the acceptance screen for the student. All financial aid disbursement screens will show the Original Amount and the Scheduled Amount.
Student’s Acceptance will be cleared if an administrator increases the Loan Amount, and the student will need to re-accept the new higher amount.
Administrator
An administrator can accept an award on behalf of a student. Ensure that you have written documentation from the student authorizing the acceptance, especially in the case where accepting a loan can incur debt in the student’s name.
Go to the student’s profile.
Go to Person Selected > FinAid Status.
In Current Year select a financial aid year.
Awards that may be accepted at a lower amount appear with a pencil. If desired, click the pencil and enter a lesser amount. If the student doesn’t want the award, enter 0.
To comply with federal guidelines, if a student requests a Subsidized loan amount lower than the original package amount, the student is ineligible to receive Unsubsidized loans and will automatically zero/cancel out the Unsubsidized loan after displaying a warning to the student.Click Accept Plan.
Review the confirmation text, select the confirmation box and click Accept. The Accepted Scheduled Amount updates on the administrative side, and locks the acceptance screen for the student. All financial aid disbursement screens will show the Original Amount and the Scheduled Amount.
Reseting loan acceptance
If a student accepts loans and later changes their mind, you can reset the acceptance allowing them to adjust their desired amounts and re-accept the loans. This process will remove the accepted user and timestamp, and then allow the scheduled amount to be changed and accepted again.
Use this process with caution, especially if the awards have already been disbursed to the student.
If an administrator repackages a student through F/A Packaging, or if an administrator changes a scheduled amount manually before origination, the Acceptance will be cleared; as a student is required to re-accept their loans when the amounts are adjusted.
Go to the student’s profile.
Go to Person Selected > FinAid Status.
In Current Year select a financial aid year.
Click Clear Loan Acceptance.
