Financial Aid Yearly Setup

In addition to creating and maintaining awards as needed, there are some Yearly Setup tasks which must be accomplished in order for financial aid awards to be processed. These include the following items:

Academic Year – Typically reflects the standard academic year from July1 – June 30
Annual Award Limits defined to prevent over-awarding during Priority Packaging
Financial Aid Year – Period of enrollment where the beginning date reflects the first day of enrollment
Financial Aid Year Limits defined to prevent over-awarding during Priority Packaging
Pkg Term – Distribution Calendar used in Single Student Packaging and some Award imports
Term – Award Limits used in Award tab of Financial Aid Maintenance window
Budgets – Associated with Academic Year and Financial Aid Year to create cost of attendance for a specific period of enrollment
ISIR CC – Associated with Academic Year and Financial Aid Year to display the actual Comment with the numeric ISIR Comment Codes during ISIR Import process
Define Academic Years.
Define Financial Aid Years for each Academic Year.
Define Financial Aid Calendar (distribution calendar) for each Financial Aid Year.
Define Term Award Limits to prevent over-awarding.
Define Budget Costs for awards for each Financial Aid Year.
Upload ISIR Comment Codes for each Financial Aid Year within Academic Years.