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Administrator Guide
Last Updated: 2024-09-20
Manually Recalculate Student Payment Plan Installments

Manually Recalculate Student Payment Plan Installments

Security:
Manage: Student Collections Processing
 domain in the Student Financials functional area.
Workday flags any payment plans for recalculation when these items change after a student signs up for a payment plan:
  • Financial aid awards.
  • Payment applications.
  • Student charge assignments.
When you've created schedules for automatic payment plan recalculations, Workday recalculates flagged payment plans in the next nightly job orchestration run. You can recalculate installments manually, when you:
  • Haven't scheduled automatic recalculations.
  • Need to update installments before the next nightly job orchestration runs.
Workday adjusts past due installments as long as there are future due installments in the payment plan. When the only installments left in the plan are past due, Workday doesn't adjust them.
Workday only recalculates internal payment plans.
  1. Access the
    Recalculate Student Payment Plan Installments
     task.
  2. As you complete the task, consider:
    Option Description
    All payment plans
    Recalculate installments for all eligible payment plans in the selected academic period and institution. A payment plan is eligible for recalculation when the student has financial activity that impacts the payment plan.
    A specific student
    Recalculate installments for a single payment plan.
If you've configured emails for student payment plans, Workday emails the impacted students, notifying them that their installments have changed.