Financial Aid Budget Costs

After defining the Academic Calendar Year, and the Financial Aid year, you will define budget costs based on that Academic Calendar year and Financial Aid year. The budget costs help the Financial Aid department determine the amount of aid needed. These budget costs will reflect the average amount that a student in a specified program may be charged. Before budget costs can be applied, the CAMS Manager must set up the Direct Cost Types in the Glossary Table: FINAID Direct Costs. And set up budget values in the FinBudgetLabels glossary table. Values for this table may include, but are not limited to, tuition, housing, fees, books, loan fees, etc.

To Define Budget Costs:

From the Academic Year window, highlight the appropriate Academic Year, then click the FA Year tab. Highlight the appropriate Financial Aid Year, then click the Budgets tab. The Yearly Budgets window displays.
The selected Academic Year and FA Year display. Select the appropriate Direct Cost Type (Glossary: FINAID DIRECT COSTS) from the drop-down list. Any budget costs associated with this direct cost type for the selected Academic and FA Years display in the list.
To add a budget cost item, right-click in the data grid. The Budget Costs detail entry window displays.
Select the appropriate Cost Item (Glossary: FINBUDGETLABELS) from the drop-down list, and then enter the dollar amount of the item.
Click OK to save this information, or Cancel to exit without saving.