TABLE OF CONTENTS



The Financial Aid Estimate is a financial document for students with pre-estimates for the Financial Aid. It is a simplified form of the Financial Aid Plan. It can be created for a student in any stage and for each group of the student.


The FA Estimate is created at Student Profile → Financial tab → Details tab. Select the Create Financial Aid Estimate action in the corresponding group row:



Create FA Estimate With Automatic Estimation


When creating an FA Estimate for a student, the Create Financial Aid Estimate window requires filling in the following mandatory fields: SAI, Dependency Status, and Grade Level in College. These fields are populated automatically when an ISIR Transaction is selected, and are used to estimate the student’s aid.


After filling in the ISIR information, a dialog prompts the user to specify whether the student has credit-granted courses. If the student is credit granted, a course selection page allows choosing courses assigned to the student.


When the FA Estimate is created, GEGI automatically calculates the fields described below. Each calculated field includes a popover with calculation details.


Enrollment Status Calculation


GEGI calculates the Enrollment Status and enrollment status ratio for each academic year. The calculation depends on the program type:

  • Clock hour programs: (AY clock hours − credit granted clock hours) ÷ clock hours per full AY. The status is always full-time, regardless of the ratio.
  • Term-based credit hour programs: (credits in AY − credit granted credits) ÷ (12 credits × periods per AY).
  • Non-term credit hour programs: (credits in AY − credit granted credits) ÷ credit hours per academic year. The status is always full-time regardless of the ratio.



Pell Grant Estimation


GEGI estimates the annual Pell amount for each academic year on the Schedule of Estimated Eligibility panel using the following algorithm:

  1. Determine the award year based on the academic year start date.
  2. Apply Pell limits for the determined award year.
  3. Calculate Pell: Max Pell Limit − SAI.
  4. Round to the nearest $5.
  5. Apply the minimum Pell limit check.
  6. Apply the enrollment status proration using the ratio calculated above if applicable.



Subsidized and Unsubsidized Direct Loans Estimation


GEGI estimates Subsidized and Unsubsidized Direct Loans for each academic year on the Schedule of Estimated Eligibility panel using the following algorithm:

  1. Determine the student category (Dependent, Independent, or Graduate/Professional).
  2. Look up annual loan limits for the award year and student category.
  3. Check the loan limit flag from the ISIR. If the flag is E (Exceeded), loans are $0; C (Close to Limits) — cap loan amounts at NSLDS aggregate remaining.
  4. Calculate the subsidized loan amount: the least of "COA per AY − SAI" and "Subsidized annual limit".
  5. Calculate the unsubsidized loan amount: total annual limit − subsidized loan amount.
  6. Apply the enrollment status proration according to the program type.



Total Cost of Program Calculation


The Total Cost of Program on the Financial Aid Estimate Total Amounts panel is populated automatically on creation and recalculated when credit-granted courses are assigned or updated. It is calculated as: Tuition Fee for Core Program + all other charges from the EA template.


Tuition Fee for Core Program is calculated as: (Total Clock/Credit Hours − Credit Granted Clock/Credit Hours) × Cost per Clock Hour for each course type. 



Create FA Estimate With Group Template


When creating an FA Estimate for a student, select the FA Plan template and student’s ISIR, and click Create.

The created FA Estimate will be filled with the information from the selected FA Plan template. The ISIR information will be displayed:




The FA Estimate is created:



Note: Net amounts are calculated by the formula: Net Amount = Gross Amount − (Gross Amount × (1 − Selected Origination Fee Amount) / 100). And in that calculation, firstly, the gross amount is divided in two equal parts, then the net amount is calculated for each part and summed up.



You can delete, edit, and add new awards in the FA Estimate. Edit it by simply changing the amount in a cell. To delete an award, use the Delete item in the Actions drop-down menu at the bottom of the page:



Add a new award by clicking the Add Award item in the Actions drop-down menu at the bottom of the page:



FA Estimates can be generated as a PDF document. Click the View FA Estimate (PDF) item in the Actions drop-down menu:



You can send FA estimates to a student using the Send FA Estimate item in the Actions drop-down menu at the bottom of the page. This action requires confirmation:



After the email was sent, the email date and time are reflected in the FA Estimate Sent on field:



This information is also shown in the FA Estimate Date field in the FA Tracking Report: