Student Aid Checks [6015] |
Module Description |
This module records the payment status of Aid checks for an individual student. When Aid is awarded in the Financial Aid Awarding and Packaging module Trx 5012, RGMSMS automatically creates the scheduled Aid Checks corresponding to the types of aid and award amounts. For Title IV aid, the status of Aid Checks will automatically change from “TO PAY” to “PAID” when the institution approves and prints the specific Aid Check in the Check Processing module. The payment status of an Aid Check recorded here automatically posts to the student tuition account and related accounting records. Note: Non- Title IV aid awarded under Trx 5012, will not be automatically updated to paid. This must be done manually (unlike Title IV checks which are printed from RGM this automatically updated here).
NOTE: Title IV and Non Title IV Aid checks should NOT be manually ADDED here. They are created automatically when an Aid Award is saved in Financial Aid Awarding and Packaging Module TRX 5012. The payment status of a Title IV Aid check automatically changes once the check is printed in the Print Payable Checks Module TRX 6006. For instructions on entering awards in Financial Aid Awarding and Packaging Module TRX 5012, see the Financial Aid Awarding and Packaging Help File.
·If the amount received for an AID Check is different than the amount awarded in the Financial Aid Awarding and Packaging module TRX 5012, correct the award amount in TRX 5012 before posting the AID check as PAID with the new amount. |
MODIFYING A RECORD
TO MODIFY THE PAYMENT STATUS OF A NON TITLE IV AID CHECK:
1. The Aid check should be listed in the List of Aid Checks TAB. Select the Aid Check from the list by clicking the corresponding radio button of the check you wish to modify. Click MODIFY, the system will enable fields that can be updated.
2. Enter the Pay Status, Paid With, Check Number and Date Paid. The Amount field will default to the amount calculated in TRX 5012. If a different amount was received, correct the award amount in TRX 5012 before posting the AID check as PAID with the new amount. If you need additional help, see the field description table on the last page of this manual. Click the SAVE button on the toolbar. If you want to cancel the process, just click the CANCEL button and the system will bring you back to View Mode.
Field |
Description |
Print Receipt |
Click this button if you wish to print a receipt of the Aid Check payment made |
Key |
Refers to the number sequentially assigned for each entry under the logged in school or campus |
Date to Pay |
Scheduled Payment Date of Aid Check |
Budget |
Refers to the Budget Year determined in Aid Award and Needs |
Award Year |
Award Year from which the Aid Funds are disbursed |
Payment Period/Term |
Refers to the Payment Period or Term during which the Aid Check is paid |
Hours/Units Required |
Hours or Units the student must complete to be eligible to receive the Aid Check |
Use for |
Refers to the party of which the Aid check will be payable |
Kind of Aid |
Type of Aid Funds being disbursed |
Payment Status |
Refers to the Current Payment Status of the Aid Check |
Reference Loan App # |
Applicable if the Aid Check is for Student Loans, refers to the Loan application number for which the check is originated |
Paid With |
Specifies if the Aid Check was printed on a check or Voucher |
Reference Loan Disb # |
Applicable if the Aid Check is for Student Loans, refers to sequence order of loans |
Check # |
Refers to the check number of the Aid Check Printed |
Update Check # Only |
For RGM Users only -- To change only the check number for accounting and Bluebook purposes. |
Clear/Void Code |
Refers to the reconciliation status of the Loan Check |
Date Cleared/Voided |
Refers to the date the check was considered cleared or voided |
Amount |
The Aid Check Amount |
Date Paid |
The date the Aid Check was printed/paid |