Regent Education Announces Release 4.5 for Regent Award and Regent Review – Verification and Disbursement Enhancements; Regulatory Updates for the 2019-2020 Federal Aid Year
FREDERICK, Md., Oct. 23, 2018 /PRNewswire/ — Regent Education today announced the availability of Release 4.5 for Regent Award to support fully-automated disbursing along with standard annual regulatory updates within its financial aid management system. Simultaneously, Regent is releasing the Master Verification Worksheet for the 2019-2020 federal aid year within Regent Review.
Automated Disbursing with TD Client
With this release, Regent Award users no longer will have to move CPS, NSLDS, and COD files manually to and from the Department of Education’s SAIG mailbox with EDConnect. Upon creation within Regent Award, the files are sent automatically via TD Client to the institution’s SAIG mailbox, and upon receipt from SAIG, the files are imported automatically back into Regent. Clients control which file processes are automated and which remain manual. They also can have the processes scheduled to completely automate the full Title IV disbursement cycle from COD acceptance to creation of the A/R posting file.
Verification and Disbursement Enhancements
For the 2019-2020 aid year, Regent introduces the Master Verification Worksheet (VWS) as central to the Regent Review ISIR confirmation and personalized verification product. The VWS questionnaire automatically adjusts to the verification requirements for each individual student. Having a single gold-standard master now allows all Regent Review clients to benefit automatically from future VWS enhancements. This 2019-2020 questionnaire also delivers an improved experience for students who use the IRS Data Retrieval Tool when filing their FAFSAs.
Regulatory Updates for the 2019-2020 Aid Year
Regent ensures continued compliance with statutes, regulations, and sub-regulatory guidance through semi-annual, scheduled regulatory updates. This release includes updates to Regent Award and Regent Review EFC calculations, verification documents, SAR Comment Codes, as well as ISIR Import and Correction processes for the 2019-2020 federal aid year.
Other Enhancements in Release 4.5 include support for the new TEACH Exit Counseling Type in the COD AC Response Files and for the annual adjustment of the TEACH sequestration reduction amount.
“Regent is proud of our continued improvements to both student and institutional user experiences with our suite of Regent financial aid products,” said Ron Dinwiddie, Vice President of Product Management. “Our products support standard and nonstandard term processing within both traditional and borrower-based academic years, as well as non-term processing; and, we are pleased with our ongoing enhancement of Regent functionality across all of those structures.”
“The Universal Technical Institute team always has found Regent to be very user friendly, and the functionality has enabled us to do more with fewer people,” said Yvette Ladzinski, Corporate Director of Financial Aid and Student Services at Universal Technical Institute. “We look forward to continued efficiencies with the 4.5 Release.”