AID AWARD RULES [5001]

 

          

 

Module Description

This module enables you to create records of Aid Award Rules that will be used as reference in identifying rules on granting financial aid to students in the Financial Aid Packaging module. Aid Recipients are selected and maximum awards to students are set from individual funding programs, or select to leave the award from each program to the discretion of the Financial Aid Officer (FAO).

 

If Financial Aid Award Rules change, do not modify the existing rule. Add a new rule by clicking the ADD button and entering the new effective date. Modifying existing FA Award Rules will affect past data and students.

 

Field

Description

Key

Refers to the number sequentially assigned for each entry entered under the logged in school or campus

Effective Date

Date when Award Rule took effect

Last Updated

The Date, time and user the record was last updated

FFELP

Federal Family Education Loan PLUS

Direct Loan

Federal Direct Loan

Perkins

Federal Perkins

SEOG

Federal Supplemental Educational Opportunity Grant Program

FWS

Federal Work Study Program

FAO Discretion

If selected, the Financial Aid Officer may select the Aid Recipients and calculate the Award amounts in Awarding and Packaging. Pell is always calculated by the system

Divide Funds By Starting Date

Not selected, funds are used as students enroll.  Selected, funds are divided across the Award Year (AY) and used up to a limit to ensure remaining funds are available in last part of the AY

Pell Recipients Only

Selected, Aid Recipients will only be Pell-eligible students

If funds Left, Select lower EFC

Selected, remaining funds for the AY will be disbursed between students with lower EFC

Max Award is Set to

If max award is configured it limits entry on individual student awards in Awarding and Packaging Module

On Campus

Selected, Federal Work Study can be awarded to students working on Campus

Off Campus

Selected, Federal Work Study can be awarded to students working off Campus

Community Service

Selected, Federal Work Study can be awarded to students performing Community Service

Job Location and Development

Selected, Federal Work Study can be awarded to students on Job Location and Development