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Administrator Guide
Last Updated: 2024-05-03
Create Disbursement Schedule Rules

Create Disbursement Schedule Rules

  • Create a disbursement schedule.
  • Security:
    Set Up: Disbursement
     domain in the Financial Aid functional area.
You can create rules to specify conditions for using a particular disbursement schedule to disburse an award. Example: You want to disburse an award using Disbursement Schedule A when a student is a first-time borrower and Disbursement Schedule B when they aren’t.
  1. Access the
    Create Disbursement Schedule Rule
     task.
  2. As you complete the task, consider:
    Option Description
    Disbursement Condition
    Select at least 1 disbursement condition that the student must meet before Workday assigns the disbursement schedule to the student award item.
    Workday assesses conditions in the order that you've configured them (top to bottom) and assigns the award item with the specified disbursement schedule based only on the first row where a student meets all rule conditions. We recommend that you configure the most restrictive disbursement conditions first.
    When you select:
    • Academic Period Type is Not Summer
      , Workday assigns the disbursement schedule to all academic period types, except those considered summer for financial aid.
    • Academic Period Type is Summer
      , Workday assigns the disbursement schedule only to the academic period that's considered summer for financial aid.
    • First Year/First Time Borrower
      , Workday assigns the disbursement schedule to a first-year or first-time borrower student.
      • Workday determines first-year students based on their grade level. The student qualifies if their associated federal student aid grade level is
        1st Year, Attended College Before
        ;
        1st Year, Never Attended College
        ; or
        1st Year/Freshman
        .
      • Workday determines first-time borrowers using these ISIR fields on the student's NSLDS report showing a zero balance:
        Aggregate Subsidized Outstanding Principal Balance
         and
        Aggregate Unsubsidized Outstanding Principal Balance
        .
    • Single Academic Period Federal Loan
      , Workday assigns the disbursement schedule to an award item with a single-term loan period (example: summer only) and with a
      Federal Program ID
       of
      Direct Subsidized Loan
      ,
      Direct Unsubsidized Loan
      ,
      PLUS Loan
      , or
      Graduate PLUS Loan
      .
    Disbursement Schedule
    The disbursement schedule to use when the student meets the specified conditions.
    When a student doesn't meet the conditions for any disbursement schedules, Workday uses the standard academic period start date as the anticipated disbursement date.
    Include Nonstandard Academic Periods
    Automatically selected if you've enabled the disbursement schedule for students enrolled in nonstandard academic periods (modules).
Watch the video:
 1m 21s

Create student award items.