Financial Aid Categories

Financial aid categories are a way to group financial aid for students and inquiries.  Financial aid categories are also used by (Re) Enrollment Contract to determine which products to use when financial aid is applied to a customer invoice.  To access financial aid categories, navigate to Financial Aid - Financial Aid Categories.  You need the "FinancialAid Full" or "FinancialAid Read" roles to access this page.

Academic Year is the year the associated financial aid is applicable.  New financial aid categories must be created each academic year.

Financial Aid Type allows you to specify what kind of financial aid the category is for.  This type is used for reporting purposes only and has no other impact on software behavior.

Budgeted refers to the maximum amount of financial aid the category is intended to provide.  This amount is used for reporting purposes only and has no other impact on software behavior.  Note: You can still award a total financial aid amount in excess of the budgeted amount.

Product determines which product is used when the financial aid is applied to a customer invoice.  The amount on the invoice line item is based on the financial aid award amount for the student rather than the sales price on the product. The (Re) Enrollment Contract Financial Aid Control has further information on the financial aid product behavior.

Contract Behavior determines how the (Re) Enrollment Contract uses the financial aid.
  - Accept and Invoice copies the awarded amount to the accepted amount.  The financial aid appears on the (Re) Enrollment Contract invoice.
  - Accept Only copies the awarded amount to the accepted amount.  Financial Aid Awards of this kind would be manually converted to Customer Credits at a later date.
  - Ignore causes the associated financial aid to be ignored by the (Re) Enrollment Contract.

Contract Action applies the specified financial aid award action to the student's financial aid award when the (Re) Enrollment Contract is submitted. 
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