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Buckets or seperate item types - What does your school do?

By Tom Johnson posted 11-03-2009 07:51 AM

  

At Duke, we are looking at the question of multiple disbursement 'buckets' vs multiple item types for Stafford loan increases. 

Our understanding of loan increases in DL is that if a post-disbursement Fall/Spring loan is increased by $1000 that PS will add $500 to the second bucket in the Fall term, and will then increase the first buck in the spring term by $500.  This will work for a lot of our loans, but we have circumstances where we will need to create Fall-Only loans.  (Example might be for a required computer allowance.) 

What does your school do in this circumstance?  How do you create term specific loans?  

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Comments

Pat Woolley
11-03-2009 11:07 AM

Multiple Disbursement Ids (buckets) or use a new item type for increases

At the University of Michigan we definitely use multiple disbursement ids so we can easily increase existing loan awards rather than put on a new item type for the same loan period.  But do you need all 20 'buckets' that are allowed per loan?  Probably not.  You only use a new disbursement id after the previous one has disbursed.  We found 5 disbursement ids per term was more than enough for our increases.