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Administrator Guide
Last Updated: 2024-06-14
Steps: Set Up Award Packaging

Steps: Set Up Award Packaging

Set up your financial aid requirements and configurations for processes such as ISIR evaluation, packaging, and disbursement. See Steps: Set Up Student Financial Aid.
You can assign award items to students through the award packaging process. You can package a student with financial aid for multiple periods in a financial aid award year simultaneously, or for a single academic period.
When you package a student’s financial aid, Workday uses the policies and strategies that are effective as of the standard start date of the academic period. See: Reference: Financial Aid Effective Dates.
  1. You can limit the total amount to award for 1 or more award items during a financial aid award year.
  2. Create amount interim calculations that define how much a student should receive from an award item based on other award items that Workday packages in the same packaging run. You can also create these calculations when creating student award items.
  3. Create eligibility interim calculations that define whether a student should receive an award based on the presence or absence of other award items that Workday packages in the same packaging run. You can also create these calculations when creating student award items.
  4. (Optional) Create custom objects and fields to use in award item calculations.
  5. Each award item represents a type of financial aid that you can award, such as a specific scholarship, loan, or a Federal Pell Grant.
  6. Packaging strategies identify the award items to package and the order in which to package them.
  7. Workday derives a student's packaging strategy from their academic unit and level, program area, or program of study. The strategy determines which awards to package and how to package them.
  8. Set up schedules for Workday to package financial aid awards for selected populations automatically.
  10. (Optional) When you configure the
    Student Groupings
     or
    Custom Object Change
     reaction reasons on your packaging reaction policies, access the
    Maintain Financial Aid Reaction Policy
     task.
    Select the student groupings or custom objects for which you want to trigger a reaction.
    Security:
    Manage: Merit Packaging
     and
    Manage: Need Packaging
     domains in the Financial Aid functional area.
  11. (Optional) Set up packaging holds.
    Packaging holds apply to need packaging only.
You can view details of a student's financial aid package using these reports:
  • Packaging Configuration Tool
  • Total Financial Assistance