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Administrator Guide
Last Updated: 2024-09-20
Disburse Student Award Payments

Disburse Student Award Payments

  • Student awards have a status of
    Accepted
    .
  • The student's institution has a refund recovery charge item.
  • Configure the
    Student Disbursement Payment
     business process and security policy in the Student Financials functional area.
  • Security:
    Reports: Financial Aid Period Records
     domain in the Financial Aid functional area.
Workday typically disburses financial aid on a nightly schedule. However, you might occasionally need to disburse awards manually.
Example: You need to update an award amount for just 1 student. You can edit the amount for that student, and then disburse their award manually.
When you run disbursement manually, Workday re-evaluates student eligibility for the disbursement before applying it to charges on their accounts.
  1. Access the
    Run Student Financial Aid Processes by Period
     report.
    Make sure to specify
    Student
     in the
    Student Type
     field.
  2. Select the students for whom to disburse financial aid funds.
  3. Select
    Disburse Financial Aid Payments
    .
  4. As you complete the task, consider:
    Option Description
    Student Award Items, Student Award Types, Student Award Sources
    Define the awards that you want to assess for disbursement. If you leave these fields empty, Workday assesses all awards that are ready for disbursement according to their schedule and disbursement eligibility rules.
Workday routes the disbursements for approval according to your business process. You can view approved disbursements on the
Disbursement
 report on the Financial Aid profile group of the student profile.
If the disbursement doesn't display on the student profile, verify:
  • The disbursement proration rule.
    Example: The disbursement proration rule could indicate that a student must have full-time status in order to receive their award. The award won't disburse if the student becomes part time.
  • Any holds they might have. Disbursements won't go through if there’s a hold on the account, like when an application needs federal verification.