Understanding Managing Financial Aid Terms

Before you begin setting up and building financial aid terms, complete the setup tasks discussed in the "Setting Up Financial Aid Terms".

You must understand level/load rules. These rules determine a student's academic level and academic load and are set up as part of the PeopleSoft Student Records setup. You should jointly set up level/load rules with the student records staff. Financial aid term data is driven by these level/load rules, so you need to know how they are set up for your institution.

Financial aid term data also depends upon career information, including career primacy information, from the Academic Career Table component.

Your institution also needs to have set up academic programs, because financial aid term uses program information when building a student's financial aid term. Financial aid terms are built only for programs that are designated as financial aid eligible.

You should also review the Valid Terms for Careers page. When you select which terms should be built as financial aid terms for each career by the online and background financial aid term process, only the terms defined as valid for each career on this page are available for selection.

You can build Financial Aid Terms in one of three ways:

• Manually

• Online

• In batch

Use the manual build process when data from Student Records is not available for a student, when you receive new records, or after an add/drop period. To build a financial aid term manually for a student, you must enter all required data in the Financial Aid Term component. The data you enter manually is replaced when term enrollment, program, or admissions data becomes available for the student.

Build terms online if there are records for a student from Student Records and you want to see this data or the changes to this data. Click the Build button on the FA Term page to run the online build process.

Build terms in batch to process multiple students at the same time using data from Student Records or PeopleSoft Recruiting and Admissions (if you choose to build for both updates and projections). To build financial aid terms in batch, create an FA Term driver record and then run the background process using the FA Term driver record on the Build FA Terms page.