Borrower-Based Academic Years (BBAY)

Because academic years are separated from federal award years in PowerFAIDS, PowerFAIDS can easily accommodate a Borrower-Based Academic Year (BBAY) structure.

Undergraduate Students

This information is coming soon.

Graduate Students

To set up your academic years to award loans to graduate students using BBAY, complete the following steps:

Create an academic year for each BBAY the student is enrolled in, ensuring that you associate each academic year to the appropriate award year. For more information, see Crossover Academic Years.
Assign the academic years to the student.

Each academic year honors the federal unsubsidized loan annual limit and has its own cost of attendance. Additionally, now that each BBAY is within its own academic year, packaging formulas and automated packaging can still be used for awarding under this structure.

Example: Year-Round Enrollment

Let's say you have a 3-year program at your institution that defines the academic year as Fall/Spring with available Summer. This program requires enrollment year-round.

For a student who enrolled in this program in Fall 2024 with an expected graduation of Spring 2027, the table below shows how the student’s academic years could be set up in PowerFAIDS.

Academic Year	Award Year	Payment Periods	Unsubsidized Loan
BBAY 1 – 8/15/24-5/15/25	2024-2025	Fall 2024, Spring 2025	$20,500
BBAY 2 – 5/30/25-12/15/25	2025-2026	Summer 2025, Fall 2025	$20,500
BBAY 3 – 1/15/26-8/5/26	2025-2026	Spring 2026, Summer 2026	$20,500
BBAY 4 – 8/15/26-5/15/27	2026-2027	Fall 2026, Spring 2027	$20,500