Extended Fund Codes Leveraged for Multiple PLUS Feature
It recently came to our attention that there may be some confusion on when an extended fund code is created for PLUS and GPLUS funds, and we wanted to post some clarification for the Cloud Customer Connect community.
Within the 21D Release, we delivered a feature that gives you the ability to package, originate, and disburse multiple PLUS and Grad PLUS loans within a single academic year. This includes the ability to process Parent PLUS loans from more than a single borrower within the academic period.
The system generates an extended PLUS fund code for all loans generated after the initial PLUS loan packaged within the academic year. An extended fund code consists of a base fund code PLUS or GPLUS, punctuated by a colon (:) separator after which the extension is displayed. The fund extension will match the Application ID element from the PLUS application returned by configuration.