Creating Equity Item Type Groups

Equity funds are "free money" for students, such as grants and scholarships, and can include parent and student contributions. Equity limits are established as part of the packaging plan and equity offsets reduce the amount of equity funds available to a student. Financial aid item types that are defined as equity awards are applied toward the equity limit when they are awarded.

Equity item type groups enable you to group together financial aid item types, regardless of their defined equity attribute, for consideration as equity offsets within a packaging plan. You can designate a financial aid item type not defined as an equity award as an equity item type by including it in an equity item type group. Using equity item type groups, a group of financial aid item types can be treated as equity awards in one packaging plan but not in another. You do not need to include financial aid item types defined as equity awards in equity item type groups, but nothing prevents you from doing so.

Access the Equity Item Group page (select Set Up SACR, then select Product Related, then select Financial Aid, then select Awards, then select Packaging Equity Item Types, then select Equity Item Group).

Image: Equity Item Group page

This example illustrates the fields and controls on the Equity Item Group page. You can find definitions for the fields and controls later on this page.