Setup Considerations: Student Sponsor Contracts

Student sponsor contracts represent one of the ways external organizations or individuals, such as military agencies, educational institutions, international embassies, or state prepaid tuition programs, can cover some or all educational expenses for 1 or more students. They are a type of third-party contract that can help students meet their financial obligations to the academic institution.

Questions	Considerations
Do you need separate disbursement schedules for sponsor contracts and awards?	You can use the Create Disbursement Schedule or Create Calendar Disbursement Schedule task to define separate time frames to disburse your sponsor contracts and awards.
Do you use a third-party system to manage financial aid?	When you use a third-party system for financial aid and the sponsor contract funds have financial aid impact, leave the No FA Impact check box on the Create Student Sponsor Contract task unchecked. Workday still includes the contract on the Total Financial Assistance report. You can't do calculations for a sponsor contract in a third-party system.
Do you need to use student sponsor contracts for financial aid award items?	We recommend using Workday Financial Aid functionality to process financial aid.
What student sponsor information do you need from a report?	Consider these questions when building student sponsor contract reporting: Which sponsor contracts have been disbursed? If disbursed, which sponsor contracts have been invoiced/paid? What other information do you need from a report?
Do you want to recalculate and disburse student sponsor contracts manually or automatically?	You can manually recalculate and disburse student sponsor contracts by using the related actions menu of the specific student or student sponsor contract to find individual tasks. See Disburse Student Sponsor Contract Payments. You can also set up automatic recalculation and disbursement to run during Student Nightly Job Orchestration by using the Maintain Institutional Student Financial Options task to select the Process Student Sponsor Contracts in Nightly Job Orchestration Job check box. Certain events cause student sponsor contracts to be assessed automatically. See Reference: Reactions for Student Financials.
How do you want to define contract line amounts?	You can define contract line amounts as: Amounts, where the user inputs a flat amount. Calculations, where the amount is dynamically calculated based on a rule. If using calculations, you can use the Contract Amount Rules grid in the Create Student Sponsor Contract task to configure a rule-based calculation that will allow you the flexibility to meet the sponsor's requirements. Once configured, ensure you select the Calculate Amount check box in the same task.
What process do you use for invoicing and disbursement?	Workday enables you to create the workflow that best fits your organization and your sponsor agreements: Disburse payments to the student, invoice the sponsors, and then record the sponsor payments. Invoice the sponsors, record the sponsor payments, and then disburse the payments to the student.

Configure transaction worktags for student sponsor contracts. See Configure Worktags for Transactions.

Configure these security domains in the Student Financials functional area:

Configure these security domains in the Financial Aid functional area:

Domain	Considerations
Manage: Financial Aid	Enables you to configure and manage student financial aid.
Reports: Financial Aid Period Records	Enables you to view reports on financial aid period records.
Set Up: Disbursements	Enables you to configure and manage disbursements.

Configure these security domains in the Banking and Settlement functional area:

Domain	Considerations
Process: Payment Return	Enables you to manage payments returned by the bank, and view related reporting.
Process: Settlement	Enables you to manage issues with student sponsor refund payments.

Business Processes	Considerations
Pending Student Sponsor Refund Event	If the student is eligible for a refund, this business process enables you to refund the student once you do a settlement run.
Student Deposit Event	Enables you to deposit student payments.
Student Disbursement Payment Event	Enables you to disburse a student sponsor contract payment.
Student Sponsor Payment Application Event	Enables you to apply a student sponsor payment.

Reports	Considerations
Find Student Sponsor Contract Lines Requiring Rebill	Find contract lines to invoice again when sponsor contract amounts change.
Find Student Sponsor Contracts	Find student sponsor contracts based on key contract attributes such as Contract Name, Academic Unit, Award Year, Contract Date, and Sponsor.
Find Student Sponsor Contracts, Invoices, and Payment Statuses	Find student sponsor contracts, invoices, and payment statuses for the selected award year.
Find Student Sponsor Payments	Find student sponsor payment details, and apply or unapply payments against invoices.
Student Sponsor Contract Details	Find student sponsor contracts for the selected award year.
Student Sponsor Contract Utilization	Provides a visual display of student sponsor contract utilization per award year.

Integrations or Web Services	Considerations
Bulk Import Put Student Sponsor Recalculation Schedule	Processes many instances of the Student Sponsor Recalculation Schedule asynchronously.
Get Pending Student Sponsor Refunds	Retrieves student sponsor refunds by reference ID. If you don't provide reference IDs, the web service retrieves all student sponsor refunds.
Get Student Sponsor Contracts Put Student Sponsor Contract	Retrieves, creates, or updates a student sponsor contract. If you don't provide reference IDs, the web service retrieves all student sponsor contracts.
Get Student Sponsor Invoices	Retrieves student sponsor invoices. If you don't provide any request criteria, the web service retrieves all transactions.
Get Student Sponsor Recalculation Schedules Put Student Sponsor Recalculation Schedule	Retrieves, creates, or updates student sponsor contract nightly recalculation schedules. If you don't provide reference IDs, the web service retrieves all student sponsor contract nightly recalculation schedules.
Import Student Sponsor Contract	Imports a single student sponsor contract with multiple lines. You can add or edit lines by ID. When editing a sponsor contract, leaving out existing contract lines won't remove them from the contract.
Import Student Sponsor Payment	Imports student sponsor payments with optional deposit created.
Import Total Financial Assistance	Creates new financial aid packages with the supplied student award data for a student, denoted by the institutional academic unit. The student awards on the request will override any current awards in the student's financial aid. Any student waivers or student sponsor contracts on an existing financial aid package will be added to the newly created package of the same academic period.
Submit Pending Student Sponsor Refund	Creates pending student sponsor refunds.

Features	Considerations
Customer Accounts	You manage receivables from sponsors using Customer Accounts.
Financial Aid	You use Financial Aid to configure disbursement schedules. Sponsor contracts are included in Financial Aid package lines.
Grants	You configure student sponsors in Grants.
Reporting and Analytics	You configure business form layouts for student sponsor payments and invoices with the Report Designer.

Workday offers a Touchpoints Kit with resources to help you understand configuration relationships in your tenant. Learn more about the Workday Touchpoints Kit on Workday Community.