Financial Aid automates federal and institutional financial aid processing for a more efficient operation. It provides flexibility and helps manage financial aid activity for applicants and students.  With this application, the following process can be accomplished.

• Receive and track financial aid applications.
• Design cost of attendance assessment by defining budget categories, items, and formulas.
• Manage need analysis, packaging, disbursement, and loan processing.
• Process origination and disbursement for FFELP, Direct Loan, and Pell Grant programs.
• Calculate federal Pell awards.
• Use award plans to automatically package students.
• Match financial aid sources to eligible students.
• Modify financial aid notification letters.
• Maintain federal compliance with annual regulatory updates for ISIR, Pell, Direct Loan, FISAP, and other federal updates.
• Post financial aid to student accounts.
• Provide students with self-service access to view, accept, and decline awards.
• Manage student work-study programs.

Financial Aid supports local management and awarding of federal aid, state aid, institutional aid, departmental aid, and scholarship funds.  After you set up the system based on your institution's rules and practices, you can begin to receive and track financial aid applications.  The awarding practice takes place when your institution receives the ISIR, PROFILE, Need Access, or institutional application.  After you load need analysis data, the system activates the student for the aid year.  Activation of the aid year is the first step in updating student data for financial aid processing.  You can manually award a student or use award plans to automatically package a student.  The packaging process finds the best combination of aid to meet a student's financial need.  Disbursing aid to students involves authorizing each disbursement.  The system checks the disbursement rules that you have defined and determines of a particular award can be disbursed.  For the aid cycle to be successful, you must verify selected students, handle ISIR corrections, process budgets, track requested documents and loan applications, and monitor spending and reconciliation of funds.

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