The following is an example of the a financial aid lifecycle in Student Billing:
 
  1. If tracking Financial Aid application information, enter the Financial Aid Application on the student or applicant record
  2. Create a Financial Aid Billing item for the next school year
  3. If financial aid is awarded to students, the business office prepares and sends to students a contract including tuition amounts and financial aid awards.
  4. The business office validates financial aid award amounts
  5. The business office schedules financial aid for the school year by either:
  6. The business office generates financial aid credits during the year by either:
  7. Apply the financial aid credits to the appropriate charges by either:
 

One of the advantages in having an integrated Education Edge/Student Billing database is the ability to streamline the financial aid award process between the admissions and business offices. For the admissions office procedures, refer to How to set up and generate Financial Aid in Admissions Office 7 (BB212156).