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A loan can assume different statuses over its lifetime. The characteristics of these different statuses are defined in this option. The status determines for example which of the three interest rates must be used, the interest interval, etc.
| Field | Type & Length |
Description |
|---|---|---|
| Loan Status Code | A1 | Enter any loan status code. |
| Loan Status Description | A40 | Enter the description of the status code. |
| Interest Rate Code | A1 | Allowed values are (S)tudy, Not Study (1) and Not Study (2). This field determines which of the possible three interest rates must be used. |
| Interest Base | A1 | Allowed values are a(R)rear and (A)dvance. This field determines whether interest must be calculated in arrears or in advance. |
| Interest Interval | A1 | Allowed values are (Y)early, (Q)uarterly, (S)emester, (M)onthly and (N)o interest. This field determines the frequency with which interest must be calculated. |
| Suspend Payment | A1 | Allowed values are (Y)es and (N)o. If this field is set to (Y)es, it indicates that the student need not make any payments. |
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| Processing Rules |
|
|---|---|
| No special processing rules |
| Date | System Version | By Whom | Job | Description |
|---|---|---|---|---|
| 25-Aug-2006 | v01.0.0.0 | Charlene van der Schyff | t133700 | New manual format. |
| 18-Sep-2007 | v01.0.0.0 | Charlene van der Schyff | t137175 | Proofread by ITS system owner not done. |
| 21-May-2014 |
v04.0.0.0 |
Nokuthula Mafenuka |
t196565 |
Add new image |
| 18 Feb 2016 |
v04.0.0.0 |
Farai Mukwambo |
t196565 |
Changed Block to Panel box. Updated image |