Reference: Financial Aid Capabilities

You can view high-level feature descriptions for the capabilities in this product area.

Provides the ability to store past, present, and projected future enrollment information required to award financial aid and calculate student charges. The functionality supports:

Automatic and manual refreshing of attendance plan data.
Reviewing data used to calculate financial aid course load statuses, package financial aid, and populate the attendance plan.

Provides a framework for packaging merit-based and need-based awards to students. The functionality:

Supports automatic and manual assignments of financial aid packages.
Provides the ability to update financial aid packages without repackaging students.
Includes reports on packaging histories for students.

Provides configurable business processes for financial aid. 

Supports the use of calculated fields in financial aid reporting. 

Supports the estimation of students’ educational expenses for a financial aid award year. 

Provides a framework for disbursing financial aid to students. The functionality also supports:

Displaying anticipated payments.
Overriding disbursement eligibility requirements.
Prorating financial aid.

Supports the use of custom fields in financial aid reporting and awarding.

Provides standard reports and the ability to create custom reports for financial aid reporting. The functionality supports:

Communicating education costs to students and prospects.
Viewing and analyzing financial aid processing.

Supports communication between Workday and the FAFSA Processing System (FPS). The functionality provides the ability to:

Transmit data to and from the FPS.
Validate and correct Institutional Student Information Record (ISIR) data.

Provides the ability to manage how financial aid processes react to events that impact financial aid eligibility.

Provides a framework for determining whether students are meeting educational requirements for receiving financial aid.

Provides the ability for students to:

View their financial aid.
Accept or decline awards.
Complete action items.

Provides the ability to calculate financial aid award amounts and eligibility for awards and disbursements.

Provides a framework for notifying students about financial aid processes.

Provides a central location to access academic and financial information that relates to financial aid for a student.

Provides a framework for processing federal and alternative loans.