Functionality

FINANCIER™ Functionality

Select one or more of the categories below to review system features.

Global Features
Applicant Data Delivery
Requirements Tracking
Budgeting
Need Analysis and Calculation
Verification
Awarding/Packaging
Fund Management
Disbursement
Loan Processing
History and Audit Trails

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, file or field value 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 Processing

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.

FFELP Loans

• Create and maintain multiple loan applications online or through the packaging process for subsidized/unsubsidized Stafford loans, for PLUS loans, and for alternative loan programs handled by Stafford loan processors.
• Automatically calculate loan origination fees and adjust Cost of Attendance accordingly.
• Certify loans online or through a batch review process.
• Export FFELP loan applications and corrections to the loan servicers or guarantor.
• Import application and correction acknowledgments from the servicers or guarantor.
• Import disbursements from servicer-provided or guarantor-provided EFT file.
• Track receipt of paper loan checks online.
• If appropriate, disburse loans directly to student accounts.

Direct Loans

• 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.

For more information, please contact our Sales and Marketing department at sales@wolffpack.com or 1-888-WOLFFPACK.