Award financial aid

Award financial aid to a student to reduce their account balance by the amount granted. Financial aid can only be applied to charges that occur in the same school year and session as the granted aid.

Tip: Need to manage financial aid for multiple students at once? Check out our tutorial on the bulk import of anticipated and awarded aid.

To get started, as a Billing clerk, navigate to Billing management, hover over Financial aid and select Financial aid awards from the drop-down. Similarly, navigate to a student billing profile using the People Finder and find Financial aid on the page.

To award financial aid:

Select Add financial aid.
Enter a Student name and select a matching search result. This option won't appear if adding financial aid from a student profile.
Select the School year.
Select the Session financial aid should be applied to.

Note: Financial aid is applied to the balance in the selected School year and session.
Select the Financial aid type. The Financial aid type determines the default Amount granted based on the predefined financial aid setting.
Select the School decision. Financial aid can is only applied if Approved or an equivalent option is selected.
Customize Amount granted, if needed. The Amount granted is the amount of financial aid the student is awarded.
Optional: Select a Candidate decision to update an enrollment candidate’s status.
Optional: Enter the Amount qualified. The Amount qualified is the maximum amount of financial aid the student is eligible for based on financial need, academic merit, or other qualifying factors. The Amount qualified has no impact on the amount of aid a student is awarded.
Under Charges to pay off, select how the award is allocated against charges in a payment plan, specific fees, or the overall balance.

Note: Charges to pay off, Responsibility, and Disbursement dates appear if School decision is set to Awarded or an equivalent option.

Under Charges to pay off, select between:
1. Any charges included in the student's payment plan:
  
  Aid is applied to the oldest charge and then to each subsequent charge in chronological order based on charge date; if the oldest charge shares the same charge date as a tuition charge, then tuition is prioritized. Only charges that appear in a payment plan are targeted.
2. Any charge:
  
  Aid is applied to the oldest charge and then to each subsequent charge in chronological order based on charge date; if the oldest charge shares the same charge date as a tuition charge, then tuition is prioritized.
3. These specific fees:
  
  Aid is applied to specific charges.
If the aid amount exceeds the available charges, the aid is still available as unapplied credit. Financial aid can only be applied to charges that occur within the same school year and session as the award date.
Under Responsibility, determine whether the Financial aid is applied to a specific student or equally among all Statement recipients related to the selected student. In the former instance, determine the amount each statement recipient is awarded. Each Statement recipient can receive a portion of the total Amount granted.
Under Disbursement dates, select whether to distribute the Financial aid amount equally among the dates in a payment plan (Based on a student's payment plan) or based on specifically defined dates, ensuring that the selected disbursement dates total the Amount granted.
Select Save.