Financial Aid Item Types

Financial aid item types are selected item types that your institution has assigned to the funds awarded as financial aid. The item type is used to map the financial aid award transaction to the appropriate general ledger account during the general ledger process. The way item types are classified governs whether they are considered as financial aid item types.

Setting up your item types for financial aid requires several major steps:

1. Add keywords on the Keywords page to simplify the search for a financial aid item type in a search dialog box.

   Keywords that you might use for your item types include grants, loans, work (for work-study), scholarship, and merit.

   Note:

   Financial aid and bursar offices should work together to set up your keywords so that a keyword standard can be defined for your institution.

2. Set up the item types used by financial aid in the Item Types component.

3. Set up financial aid item types.

4. Set up fiscal item types to define the amount of spending money for a particular fund.

   Note:

   Use the same setID for all of your financial aid item types.