Global Features

With FINANCIER™ you can:

  • Maintain compliance with federal regulations with minimal disruption for your financial aid office.
  • Integrate seamlessly with other administrative systems, such as Admissions, Student Records and Registration, Student Accounts Receivable, Student Loan, Housing, Development, Payroll and Personnel, and Financial Accounting.
  • Use security to control access at the system, screen,  or file level.
  • Perform multi-year and multi-campus processing.

Applicant Data Delivery

FINANCIER™ allows you to:

  • Accept electronic records from the Central Processor and other outside sources, or add applicant data online.
  • Collect and store information from university applications, as well as state-specific or university-specific information collected by other processors.
  • Participate in all phases of EDE and the CSS/Financial Aid PROFILE service.
  • Overlay federal data with PROFILE data or vice versa.
  • Review newly imported applicant records online before they are loaded.
  • Compare a student’s current and new incoming data side by side online.
  • Add or correct key fields on rejected applicant records online.

Requirements Tracking

With FINANCIER™ you can:

  • Automatically assign required documents based on student attributes or on awarding from a particular fund.
  • Calculate the status of an individual student’s application online or do a global calculation.
  • Override assigned requirements for a student.
  • Assign new requirements on the fly.
  • Generate initial and follow-up requests for required documents. Make requests globally, by student attributes, or for individual students.
  • Override standard notification settings for individual students.

Budgeting

FINANCIER™ makes it easy to:

  • Create an unlimited number of values of eight budget components, based on student attributes.
  • Automatically calculate initial student budgets online or in batch.
  • Modify individual budgets online, with automatic recalculation of need.
  • Perform mass budget recalculation.
  • Split budget components unevenly across terms, if necessary.
  • “Lock” non-standard budgets to prevent automatic recalculations.

Need Analysis and Calculation

With FINANCIER™ you can:

  • Use Federal and Institutional Methodologies.
  • Calculate EFC automatically online and in batch.
  • Perform unlimited calculation simulations without updating the applicant’s record.
  • Automatically recalculate need whenever EFC or Cost of Attendance changes.
  • Automatically generate ISIR corrections when changes are made to federal data.
  • “Lock” applicant records to prevent further updates.

Verification

FINANCIER™ allows you to:

  • Tailor the level of verification to your needs–just the federally mandated fields, or additional levels of detail.
  • Verify data both online and in batch.
  • Define acceptable tolerances for verification fields.
  • Compare a student’s applicant and verification data side by side online.
  • Overlay federal data with verification data.
  • Automatically generate ISIR corrections resulting from verification overlay.

Awarding/Packaging

With FINANCIER™ you can:

  • Package awards based on student characteristics and user-defined criteria.
  • Define unlimited numbers of packaging formulas.
  • Create and update awards online.
  • Automatically distribute awards across terms and disbursement points. Automatically redistribute if changes are made.
  • Produce custom-designed letters to inform students of their eligibility.
  • Track a student’s packaging status online.
  • “Lock” an entire fund or a single student record to prevent further repackaging.

Fund Management

FINANCIER™ makes it easy to:

  • Define attributes, awarding criteria, packaging restrictions and disbursement requirements for individual funds.
  • Set minimum/maximum award amounts and annual/lifetime program maximums.
  • “Freeze” offers or disbursements.
  • Automatically replace funds.
  • Review dynamically updated fund utilization figures, including unduplicated headcounts, online.
  • Review dynamically updated fund recipient rosters online.
  • “Roll up” related funds with different requirements to a master fund for reporting.
  • Analyze fund usage over multiple fiscal years online.

Disbursement

With FINANCIER™ you can:

  • Post payment transactions to student accounts both online and in batch.
  • Calculate a student’s disbursement status online.
  • Produce custom-designed notifications regarding disbursement requirements.
  • Automatically verify that all requirements are satisfied before disbursement.
  • Define individual funds as disbursable or not.
  • Post adjusting entries after initial term disbursements.
  • Dynamically update fund management and student award information at disbursement.
  • Automatically generate electronic Pell Grant payment records from disbursement activity.
  • Participate in electronic funds transfer.

Loan Management

FINANCIER™ allows you to:

  • Review a student’s loan history (including Perkins, FFELP, Direct, Health Profession, institutional, and other loans) by aid year online.
  • Package loans online or through the automated packaging process.
  • Automatically distribute loans across terms for recording as awards.
  • Track loan entrance/exit interviews and promissory note signatures as disbursement requirements.

Direct Loans

FINANCIER™ allows you to:

  • Create and maintain multiple loan origination records online or through the packaging process for subsidized/unsubsidized direct loans, and for PLUS loans.
  • Automatically calculate loan origination fees and adjust Cost of Attendance accordingly.
  • Certify loans online or through a batch review process.
  • Generate, track and manifest Direct loan promissory notes online.
  • Export Direct Loan originations, promissory note manifests, corrections, and
    disbursements to the servicer.
  • Import origination, promissory note, correction and disbursement acknowledgments and reconciliation codes from the servicer.
  • Disburse loans directly to student accounts and reconcile funds.

History and Audit Trails

With FINANCIER™ you can:

  • Use the dynamically updated Event History to review all events in a student’s financial aid process, from receipt of application through disbursements.
  • Review all activity related to aid eligibility with the Student Audit.
  • Review all activity on an award with the Award Audit.
  • Create and update free-form notes regarding specific students, loans, funds and other types of records using the system-wide Notepad.