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<p class="MsoNormal">Hello FA!<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">We have received reports from colleges about loans being cancelled for students who have not reached their aggregate loan limits. The packaging message below is displayed when staff select Validate on the Assign Awards to a Student page: <o:p></o:p></p>
<p class="MsoNormal"><img width="511" height="173" style="width:5.3229in;height:1.802in" id="_x0000_i1027" src="cid:image001.jpg@01DADE85.CF109CC0" alt="A close-up of a message
Description automatically generated"><o:p></o:p></p>
<p class="MsoNormal">This issue is due to an outstanding bug with Oracle. The bug is causing the dependency status value to be X (dependent students) or Y (independent students) on the STUDENT_AID record.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">At this time, we highly recommend that ISIRs should <b>not be deleted
</b>once an award has been made, because of this bug & others mentioned in the OVD guide & on the FAFSA Simplification 2024-2025 Known Issues in ctcLink webpage.<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><b>Next steps:</b><o:p></o:p></p>
<p class="MsoNormal">A fix from Oracle is expected in the next PRP. We will send updates when we have additional information.<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">In the meantime, we have developed a query to identify these students. Once this query is available in Production, we will send a notification. You can then run the query to look for students who have the incorrect dependency status value
of X or Y. Once you have confirmed that a student has not reached their loan aggregates & has met all other eligibility to receive the loans, you should be able to award the loan on the Invoke Professional Judgment page.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">To determine if a loan will need the dependency status value updated, navigate to Financial Aid > Loans > Direct Lending Management > Override Loan Application Data. Select the Direct Loan Demo Ovrd tab. If the dependency status value is
X or Y, override it to D (dependent students) or I (independent students). <o:p>
</o:p></p>
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Description automatically generated"><o:p></o:p></p>
<p class="MsoNormal">The override will then be included on your next outbound loan file.<o:p></o:p></p>
<p class="MsoNormal"><o:p></o:p></p>
<p class="MsoNormal">If you would prefer to wait to award a student’s loans until the resolution is delivered by Oracle & tested by our team, that is completely fine.
<span style="font-family:"Segoe UI Emoji",sans-serif">😊</span><o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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