Sponsorship

Sponsorship enables organizations to provide financial support to individuals. External organizations and educational institutions set up an agreement to make this possible.

A sponsorship is made up of a sponsorship fee, a sponsorship credit, and a sponsorship agreement. The agreement is between a third party (these are external organizations like corporations) and your educational institution. The agreement indicates that the external organization pays all or a portion of a student's tuition and fees. The third party or external organization determines which students are eligible for sponsorship as well as which courses are sponsored.

The bursar role maintains a sponsorship, while the administrator is likely the one who creates a sponsorship agreement.

Note: A sponsorship is assigned to a particular period of time. Academic reporting periods are the basis of this timing. The due dates of fees, student credit eligibility, and assigning sponsorship all use academic reporting periods. In setting up sponsorship fees and credits, remember that the fee and credit must use the same academic period as the course or program to be sponsored.

To start a sponsorship, these are some things you may need to do:

• Make sure that the administrator has access to the reference data your institution uses.

• Create an external organization if one doesn't exist. This organization acts as the sponsor.

  Make sure you provide an address when you create the organization. This ensures that a customer account is generated, which then lets you create a sponsorship for the organization.

  To create an external organization, you can either:

  • Create one manually.

  • Use the Rapid Implementation process to create many external organizations at one time.

  An external organization can have multiple customer accounts associated with it because a separate customer account is created for every sponsorship agreement. Each sponsorship agreement is treated as a separate account to facilitate management and record keeping. This account is recorded in the agreement.

• Create a sponsorship fee.

• Create a sponsorship credit. You can assign a sponsorship credit to only one sponsorship agreement. A sponsorship credit is unique to an agreement.

• Create your sponsorship agreement.