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Regent Education announces Regent 5.3, the latest version of its Financial Aid Management Suite - Includes 2021-2022 regulatory updates plus continued enhancements to support smart borrowing

November 10, 2020 | By

Regent Education today announced Regent 5.3, a major release that includes 2021-2022 regulatory updates to Regent Award and Regent Review, the flagship solutions of its automated financial aid management suite. Simultaneously, Regent enhanced Regent Plan, an offering that empowers higher education institutions to help students borrow responsibly and minimize debt.

2021-2022 Regulatory Updates

The 2021-2022 regulatory updates include the required updates to Regent Award and Regent Review as appropriate in support of 2021-2022 ISIR processing. Among the features updated were:

  • The Estimated Family Contribution formula for the 2021-2022 Federal Award Year;
  • ISIR Details display and Verification/Corrections Wizard now support the 2021-2022 Federal Award Year, as does the ISIR Comparison Tool;
  • SAR Comment Code text definitions now align with the U.S. Department of Education’s 2021-2022 SAR Comment Codes and Text document;
  • Regent now supports the printing of ISIRs for the 2021-2022 Federal Award Year;
  • Message classes were added to the SAIG Mailbox integration feature in support of 2021-2022 ISIR file processing; and
  • The ability to import data for 2021-2022 ISIRs and export 2021-2022 ISIR correction data has been implemented in accordance with EDE Technical Reference 2021-2022.

Also available to Regent Review Clients is a new version of the 2020-2021 Verification Worksheet which incorporates updates for the new year as well as improvements to the user experience including language, support links, and question flow.

Regent Plan Enhancements

Regent Plan provides students with informed, dynamic financial aid planning and smart borrowing tools as well as improved counseling and contact support. Launched earlier this year, Regent Plan has been enhanced to include:

  • Extended ‘What if’ analyses to allow a student / counselor to build multiple versions of a comprehensive financial aid plan until degree completion, analyzing both full-time and less-than-full-time variables; and
  • Configuration controls that allow institutions to launch My Borrowing and My Plan across granular subsets of students, departments, and programs so that these powerful tools can be launched systematically either institution-wide, or in much smaller student population subsets.

With the enhancements to Regent Plan, we extend our focus to deliver dynamic, informed planning and forecasting with better financial aid choices and stronger counselor support,” said Ron Dinwiddie, Chief Product Officer at Regent Education. “Our intent continues to be to have an impact on student borrowing decisions that result in lower debt obligations.”