This function is not used by Electronic Loan processing and must be unchecked.
This function is not used by Electronic Loan processing and must be unchecked.
Initial Loan Status
The loan status entered in this field will be the default loan status value for the automatic creation of the loan application. Select the List function to access the Loan Status Validation window (RTVLNST), which lists valid loan status entries. You can access this field only if the Create Application When Loan Accepted field is checked.If approval of the loan by the lender/guarantor is required for memoing, then this status must be checked as inactive on RTVLNST. Processing of the loan approval will change the loan status to Approved and will result in the memoing of the loan, once financial aid disbursement is performed.
Default Return ID
Enter the default entity authorized to receive the return of loan proceeds for students that lose their eligibility in the Default Return ID field. Select List to view existing IDs on the Non-Person Name/ID Search Form (SOACOMP).
Default Lender ID
If you use a lender on a recurring basis for this fund code, enter that lender’s ID in this field. This ID will then be used as the default. Select List to access the Non-Person Search Form (SOACOMP) to see a list of established lender IDs.
Default Guarantor ID
Enter the default guarantee agency ID that provides insurance to the lender for the loan in the Default Guarantor ID field. Select List to view existing IDs on the Non-Person Name/ID Search Form (SOACOMP).
4 Forms
Use this indicator to indicate participation for CommonLine Change Transactions for individual loan funds rather than for all loan funds. When checked, the values that can change and submit for Electronic loans are logged for transmission in the CommonLine Change Send file for this specific fund code. If unchecked on the ROAINST and RPRLOPT forms, no changes are logged or sent.
If the Process Electronic Change Transaction field is checked on both the ROAINST and RPRLOPT forms, change processing occurs for all Electronic Loan funds. If the Process Electronic Change Transaction field is checked for specific funds on RPRLOPT and unchecked on ROAINST, only those fund codes with the Process Electronic Change Transaction field checked are used for Change Transaction processing. When the Process Electronic Change Transaction field is checked on ROAINST and unchecked on RPRLOPT for all funds, all Electronic loan funds are included in Change Transaction processing.
Satisfy Loan Application Requirement
Check this field if the entry of a loan application satisfies a loan application tracking requirement. (Refer to the Requirements Tracking Chapter for additional information.) If you check this field, the cursor advances to the Loan Application Requirement Code field.
Loan Application Requirement Code
Enter the tracking requirement code to indicate the tracking requirement to use when you satisfy a loan application
requirement. Select the List function to access the Requirements Tracking Validation Form (RTVTREQ), which lists the valid requirement codes and their descriptions.
Loan Application Requirement Status
Enter the tracking requirement status code that will be used when you satisfy a loan application requirement. Select List to access the Tracking Requirements Validation window
(RTVTRST), which lists valid status codes and their descriptions.
Note: You can only access this field if the Satisfy Loan Application Requirement field is checked.
. . . Fields
. . . .Descriptions
Memo Actual Loan Amount
This field determines whether the actual loan amounts on the Loan Term Schedule Table (RPRLATR) will be used during memoing. The actual loan amount is defined as the calculated disbursement amount. If you check this field, the memo amount for the term reflects the value in the Disburse Amt field on the Loan Disbursement Form (RPALDSB). A loan application must exist for a Disburse Amt to be calculated by the system. The Disburse Amt has the fees already subtracted.
If this field is blank, the system uses the packaged amount for the term without any fees subtracted.
Authorize Loan If you check this field, loan authorizations for this aid year and fund code will be created when disbursing funds. (The default value is checked.)
Request Amount Required for Certification
If you check this field, you can’t certify the loan (by entering certification initials in the Certification window of the Loan Application Form (RPALAPP)) unless a requested loan amount was entered in the Requested Amount field in the Application Status Section. A blank entry means that you can certify the loan without a requested amount.
Disbursement Amount greater than Loan Amount
This field indicates whether to prevent loan disbursement if Disbursement Amount is greater than the Award Amount.
Disbursement does not occur if the total amount of all
disbursements, amounts disbursed and amount to be disbursed, exceed the amount of the loan.
Returned Check Detail Codes
Student Charge or Payment
Enter the Accounts Receivable (A/R) Detail Code that will be used when the disbursement process (RPEDISB) processes the returned check amount from the Loan Disbursement Form (RPALDSB) in the Student Charge or Payment field. This code could either be defined as a Charge (Type C) or as a Payment (Type P) in Accounts Receivable. The disbursement process places a positive charge on the student's A/R account for the returned check amount if you use a Charge detail code. The disbursement process places a negative payment on the student's A/R account for the returned check amount if you use a Payment detail code. Select List to review the Accounts Receivable detail codes in the Detail Code Query Form (TSADETC).
. . . Fields
. . . .Descriptions
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