Reference: Financial Aid Effective Dates

As you configure financial aid functionality, you can add effective dates to maintain version history or schedule future changes to your configuration. If you want your configuration to be effective for the current academic period, you must select a date that corresponds to the standard start date of the academic period. For some functionality, you can effectively date your configuration by selecting an Award Year.

When you change configuration for these functionalities, consider any other policies and functionality they might impact. Example: When you change the

Default Program Minimum Coursework

value on the

Federal Student Aid Program Policy

, the

Program Minimum Coursework

value used in future Satisfactory Academic Progress (SAP) evaluations will be impacted.

Any policy that impacts attendance plans must have an effective date before the first time you associate a program of study with an active student’s academic record. When you first configure these policies, Workday recommends you set the effective date to 01/01/1900 to avoid errors with student data from legacy systems.

Functionality	Effective Date	Impacted Policies and Functionality
Load Status Policy	Use the Academic Period Standard Start Date.	Attendance Plan
Federal Student Aid Program Policy	Use the Academic Period Standard Start Date.	Attendance Plan Packaging SAP
Federal School Code Policy	Use the Academic Period Standard Start Date.	Attendance Plan Packaging SAP
Satisfactory Academic Progress (SAP) Policy	Use the Academic Period Standard Start Date.	SAP
COD Routing ID Policy	Use 07/01/YYYY or earlier (where YYYY represents the start of the award year).	COD Integrations
ISIR Processing Policy	When you select an Award Year, Workday uses the Award Year Start Date in 07/01/YYYY format as the Effective Date.	ISIR Progression
Student Cost Item Assignments	Use the Academic Period Standard Start Date.	Cost of Attendance
Financial Aid Reaction Policy	Use the Academic Period Standard Start Date.	Packaging Cost of Attendance
Cost of Attendance Reaction Policy	Use the Academic Period Standard Start Date.	Cost of Attendance
Need Packaging Reaction Policy	Use the Academic Period Standard Start Date.	Need Packaging
Merit Packaging Reaction Policy	Use the Academic Period Standard Start Date.	Merit Packaging
Financial Aid Communication Policy	Use the Academic Period Standard Start Date.	Packaging Disbursement SAP
College Financing Plan Policy	When you select an Award Year, Workday uses the Award Year Start Date in 07/01/YYYY format as the Effective Date.	Print College Financing Plan
Merit Packaging Strategy Assignments	Use the Academic Period Standard Start Date.	Merit Packaging
Need Packaging Strategy Assignments	Use the Academic Period Standard Start Date.	Need Packaging
Student Award Items	07/01/YYYY (where YYYY represents the start of the award year). Example: To configure an award item for the 2021-2022 Award Year, enter an Effective Date of 07/01/2021. During Packaging, all Academic Periods associated to the 2021-2022 Award Year (on the Attendance Plan) will use this Student Award Item configuration.	Packaging