Concept: Financial Aid Award Year
Workday provides financial aid award years that facilitate processing of need-based U.S.
federal aid. Each award year runs from July 1 to June 30 of the following year.
Example: The 2022-2023 award year covers 2022-07-01 to 2023-06-30.
Several processes and controls are specific to a financial aid award year, such as:
- ISIR processing.
- Need assessment for federal aid.
- Fiscal award limits.