Financial Aid and Scholarships

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Presentation transcript:

Financial Aid and Scholarships Estimated Financial Assistance EFA Diana S. Martinez Financial Aid and Scholarships

Estimated Financial Assistance HEA section 480(j) defines “Other Financial Assistance”; basically includes all other assistance known to the school Other financial assistance not received under Title IV aid includes all scholarships, grants, loans or other assistance known to the institution

What’s in a name? Award names: Scholarship, Grant, Stipend, Tuition Reduction, Waiver, Remission, Fellowship, Assistantship, Work-Study, Loan, etc. Regardless of what an award is called, what it is according to Federal and State guidelines determines how it is treated for Title IV purposes

Rule of Thumb If a student receives a form of assistance because he or she is enrolled in postsecondary education, or the assistance is to pay for postsecondary education expenses, it will be treated as resource and EFA Award (or portion of award) that is treated as employment and is based upon need: – is considered a resource and EFA Award (or portion of award) that is treated as employment and not based upon need is: – not considered a resource and EFA

Qualified Scholarship A scholarship prize that a student can use only when enrolled as a degree candidate at an educational institution is a qualified scholarship.

Information needed for award Excel file with information emailed to departmental.scholarships@utsa.edu Academic year Department/College Award name Type of Funding (Example, conference travel, supply reimbursements, departmental scholarship, competition prize/contest award, etc.) Cost Center or Project ID Name of student UTSA ID Amount of award (student must be enrolled in term for the award)

Award Process Establish a fund code on Banner Establish an AR Detail Code on Banner Award the student and disburse the award to the students billing account If student has an outstanding balance, the award will be applied towards it

Award Name examples Academic Enrichment Departmental Scholarship Competition Prize Contest Award Conference Travel Cultural Exploration Engaged Living Intellectual Achievement & Research Internship Scholarship Leadership Professional Development Skill Development Supply Reimbursement