1. Student Prizes/Awards & Undergraduate Stipends
Office of Student Financial Aid & Scholarships (OSFA)
Karen Hauser, Associate Director OSFA
Kedra Ruff, Assistant Director OSFA
November 1, 2018

2. Why did our process change?
The Department of Education considers payments or winnings because of enrollment at a postsecondary institutional or for the purpose of aiding a student’s study, training or research as scholarships or fellowships as financial aid
Payments are considered a Scholarship if any of the following apply:
The recipient is required to use the disbursement for educational purposes
The recipient is eligible to receive the funding because he/she is a student
The contest is related to the student’s university courses or degree completion
* Cash-based prizes such as gift cards and educational equipment (e.g. iPads) must also be reported to OSFA

3. When Should I Use This Form?
For payments to Vanderbilt University students
If the individual earned the award after graduating, they are no longer a student and the payment would be processed through Purchasing & Payment Services (PPS) or Vanderbilt HR Payroll
If the student is getting an award for the Summer term and is not enrolled in Summer hours, he/she is still considered a student if they have not graduated
Prizes/Awards to any student career go through OSFA
Only Undergraduate stipends go through OSFA (Graduate and Professional stipends are paid through Vanderbilt HR – see your HCM Specialist)
Not for reimbursements paid to students

4. What is a stipend? Service-based stipends
Processed through Vanderbilt HR payroll for all student careers, Graduate, Professional and Undergraduate. These payments have trackable effort to be monitored.
Service-free stipends
Graduate and Professional payments are processed through Vanderbilt HR Payroll. Undergraduate payments are processed through OSFA. These payments are financial aid.

5. Which Stipend is it?
Who is the PRIMARY beneficiary of the time from the student?
Vanderbilt = Service Based
Student = Service Free
Determining the Primary beneficiary
Is the student working set hours?
Is the student receiving an hourly or standard wage?
Is the student’s activity directed by a supervisor?

6. Payments Through PPS
When payments are not considered financial aid or employment, they are processed through PPS. Examples of student payments processed through PPS include, but are not limited to payments for the following: Music performance for an event Cheerleading Photography Sorority dues Reimbursement Subject participation

7. How does the payment get to the student?
OSFA Receives Request
How does the payment get to the student?
Is Student Citizen?
Does Item Type Exist?
Add Award to Student’s Aid
Disburse Aid to Student’s Account
Does Student have Balance Due?
Award Applied to Balance Due
Yes
Yes
Yes No No No
OSFA ITO
OSFA Create New IT
Student Receives Refund
OSA Charge Student Tax

8. Student Refunds
If the award/prize/stipend creates a credit balance on the student’s account, The Office of Student Accounts (OSA) will process a refund Refunds are usually processed on Tuesdays and Thursdays Direct Deposit can be setup with OSA using the YES portal. Once logged in to student YES landing page, click on the Direct Deposit icon to securely enter bank account information. Banking information needs to be entered at least one week prior to any expected refund distribution If Direct Deposit is not setup with OSA, refunds will be mailed to the address on file on YES (campus, mailing, and home – in that order)

9. Disburse Aid to Student’s Account
How does the expense get to the GL?
Disburse Aid to Student’s Account
OSFA authorizes funds to disburse through financial aid processes via Item Type
OSFA sends detail of authorized funds to OSA to disburse to individual accounts
OSA uploads disbursed award data to PPM/GL monthly
Item Types are linked to the COA/POET information provided on the Prize/Award/Stipend Request form
Step 2 is completed multiple times each week. The student can verify the payment posting to his/her account through their YES portal
All prizes/awards and UG stipends are allocated to a prepaid financial aid expenditure type or account. Finance processes entries to release prepaid financial aid to financial aid contra revenue accounts.