Prerequisites

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.

With the One Big Beautiful Bill (OB3) implementation, starting AY2027 onward, financial aid term data will use information on the FA Term Details setup on the Academic Plan Table setup to determine building of summer terms and determination of term and annual loan limit percentages.