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Last Updated: 2024-09-20
Example: Test Amount Interim Calculations

Example: Test Amount Interim Calculations

This example illustrates 1 way to test amount interim calculations after you've created and added them to award items.
After setting up your amount interim calculations and adding them to award items, you need to test the calculations to ensure that students receive the correct amounts.
Test your calculations for Alan Mon. Alan is a full-time undergraduate student at Alma Mater University. Their student aid index (SAI) is zero and their cost of attendance for the 2020 Fall semester is 20,000.00.
Set up and associate amount interim calculations with these awards:
  • Gold Award
  • President's Award
Security:
  • Calculation Engine: Calculations (Category Segment Security)
     domain in these functional areas:
    • Core Compensation
    • Core Payroll
    • Financial Aid
    • Time Off and Leave
  • Set Up: Student Interim Calculation
     domain in the Financial Aid functional area.
  1. Access the
    Cost of Attendance
     report on the Financial Aid profile group of Alan Mon's student profile.
    1. From the related actions menu of the
      2020 Fall Semester
       cost of attendance, select
      Cost of Attendance
      Edit
      .
    2. Adjust the cost items and amounts so that Alan has a total cost of attendance of 20,000.00 for the
      2020 Fall Semester
      .
    3. Click
      OK
      .
  2. Return to the
    Cost of Attendance
     report on the Financial Aid profile group of Alan Mon's student profile.
    1. On the
      2020-2021 Award Year
      , select
      View/Edit Pell COA
      .
    2. Select
      Edit Pell COA
      .
    3. Adjust the cost items and amounts so that the Pell cost of attendance aligns with the total cost of attendance for the award year.
  3. Access the
    Create Need Packaging Strategy
     task.
    1. Enter or select these values:
      Field
      Value
      Academic Unit
      Alma Mater University
      Name
      Testing Interim Calculations: Need Packaging Strategy
    2. In the grid, add these rows in this order:
      1. Federal Pell Grant
      2. Gold Award
      3. President's Award
    3. Click
      OK
      .
  4. Access the
    Maintain Need Packaging Strategy Assignments
     task.
    1. Select
      Academic Unit/Academic Level
      .
    2. Enter or select these values:
      Field
      Value
      Academic Unit
      Alma Mater University
      Academic Level
      Undergraduate
      As of Effective Date
      7/1/2020
    3. Click
      OK
      .
    4. Delete any existing rows from the grid.
    5. Add this row:
      If
      Need Packaging Strategy
      Leave blank
      Testing Interim Calculations: Need Packaging Strategy
    6. Click
      OK
      .
  5. Access the
    Maintain Merit Packaging Strategy Assignments
     task.
    1. Select
      Academic Unit/Academic Level
      .
    2. Enter or select these values:
      Field
      Value
      Academic Unit
      Alma Mater University
      Academic Level
      Undergraduate
      As of Effective Date
      7/1/2020
    3. Click
      OK
      .
    4. Delete all rows from the grid.
    5. Click
      OK
      .
  6. Access the
    Run Student Financial Aid Processes by Period
     report.
    1. Enter or select these values:
      Field
      Value
      Student Type
      Student
      Award Year
      2020-2021 Award Year
      Academic Period Type(s)
      Fall
    2. Click
      OK
      .
    3. Search for and select the check box for Alan Mon's financial aid period record for the
      2020 Fall Semester
      .
    4. Click
      Package Need Financial Aid
      .
    5. Leave the
      Package Provisional Awards
       check box unselected and click
      OK
      .
      Compare your results with these values:
      Award Item
      Calculation
      Amount for Fall Academic Period
      Remaining Unmet Need
      Federal Pell Grant
      Pell
      3,173.00
      16,827.00
      Gold Award
      20% Unmet Need
      3,365.00
      13,462.00
      President's Award
      80% Direct costs - (Federal Pell Grant + Gold Award) with a maximum of 9,000 per academic period.
      9,000.00
      4,462.00
  7. (Optional) Change the order of the awards in the packaging strategy to:
    Federal Pell Grant
    ,
    President's Award
    ,
    Gold Award
    . Then compare your results with these values:
    Award Item
    Calculation
    Amount Per Academic Period
    Remaining Unmet Need
    Federal Pell Grant
    Pell
    3173.00
    16827.00
    President's Award
    80% Direct costs - (Federal Pell Grant + Gold Award) with a maximum of 9,000 per academic period.
    9000.00
    7827.00
    Gold Award
    20% Unmet Need
    1565.00
    6262.00
Workday packages Alan for these awards based on your configured amount interim calculations. The placement of the award item in the packaging strategy impacts the award amount and the student's remaining need. Consider these impacts when configuring award items with interim calculations in packaging strategies.