Cancellation Benefit Data Entry Guidelines

The following table summarizes the data entry and edit requirements for each field on the Cancellation Benefit Application screen.

Field Name

Required?

Size/Format

Edits Performed (or Recommendations)

General Information

Borrower Social Security Number

N/A

N/A

Read-only.

Student ID

N/A

N/A

Read-only.

Borrower Name

N/A

N/A

Read-only.

Current Date

N/A

N/A

Read-only.

Benefit Code and Name

N/A

N/A

Read-only.

Benefit Data

Benefit Begin Date

("Eligibility is From" date on screen)

Required

10 characters.

A value must be entered; Format must be "mm/dd/yyyy".

A date prior to the current date will be treated as a postdated benefit, and may result in an Interest adjustment.

Benefit End Date

("thru" date on screen)

Required

10 characters.

A value must be entered; Format must be "mm/dd/yyyy".

Must be after Benefit Begin Date.

The number of months (defined as the Benefit Period) between Benefit Begin Date and Benefit End Date must meet the following edits, in order:

Benefit Period cannot be greater than the number of months available for this benefit, where available months is computed as: the difference between the maximum number of months this benefit can be used, and the number of months this benefit has been (previously) used to date.

Example: Benefit has a Max eligibility of 12 months. The benefit has been previously used for 7 months for this loan, leaving 5 available months of eligibility. The Benefit Period defined by the dates cannot be greater than 5 months.

Benefit Period cannot be greater than the number of months this benefit can be used each time.

Example: Benefit can be used only 6 months each time. he Benefit Period defined by the dates cannot be greater than 6 months.

The Benefit's Max and Each Time values are accessible via the Office Management/Benefit Maintenance function.

Approved Flag

Optional

Checkbox

To apply the benefit to the associated loan, this box must be checked.

If the loan is not eligible for the benefit, the checkbox will be replaced by a "No" character string.

Loan Name

N/A

N/A

Read-only field.

Current Loan Status

N/A

N/A

Read-only field. This value is the current loan status. See Loan Status Codes for more information.

Current Principal Balance

N/A

N/A

Read-only field. This is the loan's current principal balance.

Interest Adjustment Amount

Optional

Twelve decimal characters.

System-generated value that can be edited by the user. The user-entered value (if any) cannot be greater than the system-generated value.

Value entered cannot be negative.

Any non-zero value will be used to reduce the loan's Principal Balance by that amount.

Cancellation Percentage

Optional/Required

Six decimal characters.

System-supplied cancellation percentage that is based on the benefit. The value can be edited by the user. The user-entered value (if any) cannot be greater than the system-generated value.

The displayed value will be the cancellation percentage used to calculated the various cancellation amounts.

Interest Balance Cancellation Amount

Optional

12 decimal characters.

System-generated value, computed by applying the cancellation percentage to the loan's Interest Balance.

The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.

Principal Balance Cancellation Amount

Optional

12 decimal characters.

System-generated value, computed by applying the cancellation percentage to the loan's Principal Balance.

The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.

Late Charge Balance Cancellation Amount

Optional

12 decimal characters.

System-generated value, computed by applying the cancellation percentage to the loan's Late Charge Balance.

The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.

Collection Charge Balance Cancellation Amount

Optional

12 decimal characters.

System-generated value, computed by applying the cancellation percentage to the loan's Collection Charge Balance.

The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.

Other CR Balance Cancellation Amount

Optional

12 decimal characters.

System-generated value, computed by applying the cancellation percentage to the loan's Other CR Balance.

The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.

Other DB Balance Cancellation Amount

N/A

N/A

Read-only field. Represents the total of the Late Charge, Collection Charge, and Other CR balance cancellation amounts.

Total BD Balance Cancellation Amount

N/A

N/A

Read-only field. Represents the total of the Principal and Interest balance cancellation amounts.

Loan Status - After Benefit Application

N/A

N/A

System-supplied value, based upon benefit type.

This will be the loan's new status after the benefit is applied.

Principal Balance - After Benefit Application

N/A

N/A

System-generated value. This will be the loan's new principal balance after the benefit is applied.

It does not reflect any potential further reduction by a non-zero Interest Adjustment amount.

Column Totals

(Various)

N/A

N/A

System-generated amounts representing the total of the displayed amounts from the loan detail lines. These cannot be directly changed by the user.

Field Name	Required?	Size/Format	Edits Performed (or Recommendations)
General Information
Borrower Social Security Number	N/A	N/A	Read-only.
Student ID	N/A	N/A	Read-only.
Borrower Name	N/A	N/A	Read-only.
Current Date	N/A	N/A	Read-only.
Benefit Code and Name	N/A	N/A	Read-only.
Benefit Data
Benefit Begin Date ("Eligibility is From" date on screen)	Required	10 characters.	A value must be entered; Format must be "mm/dd/yyyy". A date prior to the current date will be treated as a postdated benefit, and may result in an Interest adjustment.
Benefit End Date ("thru" date on screen)	Required	10 characters.	A value must be entered; Format must be "mm/dd/yyyy". Must be after Benefit Begin Date. The number of months (defined as the Benefit Period) between Benefit Begin Date and Benefit End Date must meet the following edits, in order: Benefit Period cannot be greater than the number of months available for this benefit, where available months is computed as: the difference between the maximum number of months this benefit can be used, and the number of months this benefit has been (previously) used to date. Example: Benefit has a Max eligibility of 12 months. The benefit has been previously used for 7 months for this loan, leaving 5 available months of eligibility. The Benefit Period defined by the dates cannot be greater than 5 months. Benefit Period cannot be greater than the number of months this benefit can be used each time. Example: Benefit can be used only 6 months each time. he Benefit Period defined by the dates cannot be greater than 6 months. The Benefit's Max and Each Time values are accessible via the Office Management/Benefit Maintenance function.
Approved Flag	Optional	Checkbox	To apply the benefit to the associated loan, this box must be checked. If the loan is not eligible for the benefit, the checkbox will be replaced by a "No" character string.
Loan Name	N/A	N/A	Read-only field.
Current Loan Status	N/A	N/A	Read-only field. This value is the current loan status. See Loan Status Codes for more information.
Current Principal Balance	N/A	N/A	Read-only field. This is the loan's current principal balance.
Interest Adjustment Amount	Optional	Twelve decimal characters.	System-generated value that can be edited by the user. The user-entered value (if any) cannot be greater than the system-generated value. Value entered cannot be negative. Any non-zero value will be used to reduce the loan's Principal Balance by that amount.
Cancellation Percentage	Optional/Required	Six decimal characters.	System-supplied cancellation percentage that is based on the benefit. The value can be edited by the user. The user-entered value (if any) cannot be greater than the system-generated value. The displayed value will be the cancellation percentage used to calculated the various cancellation amounts.
Interest Balance Cancellation Amount	Optional	12 decimal characters.	System-generated value, computed by applying the cancellation percentage to the loan's Interest Balance. The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.
Principal Balance Cancellation Amount	Optional	12 decimal characters.	System-generated value, computed by applying the cancellation percentage to the loan's Principal Balance. The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.
Late Charge Balance Cancellation Amount	Optional	12 decimal characters.	System-generated value, computed by applying the cancellation percentage to the loan's Late Charge Balance. The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.
Collection Charge Balance Cancellation Amount	Optional	12 decimal characters.	System-generated value, computed by applying the cancellation percentage to the loan's Collection Charge Balance. The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.
Other CR Balance Cancellation Amount	Optional	12 decimal characters.	System-generated value, computed by applying the cancellation percentage to the loan's Other CR Balance. The user can change this value. The user-entered value (if any) cannot be greater than the system-generated value.
Other DB Balance Cancellation Amount	N/A	N/A	Read-only field. Represents the total of the Late Charge, Collection Charge, and Other CR balance cancellation amounts.
Total BD Balance Cancellation Amount	N/A	N/A	Read-only field. Represents the total of the Principal and Interest balance cancellation amounts.
Loan Status - After Benefit Application	N/A	N/A	System-supplied value, based upon benefit type. This will be the loan's new status after the benefit is applied.
Principal Balance - After Benefit Application	N/A	N/A	System-generated value. This will be the loan's new principal balance after the benefit is applied. It does not reflect any potential further reduction by a non-zero Interest Adjustment amount.
Column Totals
(Various)	N/A	N/A	System-generated amounts representing the total of the displayed amounts from the loan detail lines. These cannot be directly changed by the user.