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).
|
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 |