TABLE OF CONTENTS


What Are Award Refunds?

There are situations when a school needs to refund the financial aid received by a student (e.g., the student has dropped the study). In this case, award refunds should be added to the student in GEGI. This helps to track the current payments state because the award refunds amounts are included in the awards and the estimated awards calculations. E.g., if the estimated award has been received but was refunded, the student’s payments and the financial reports will show this payment as not received.


Adding an Award Refund


Click the New Award Refund button on the Student Name: Payments, Refunds and Adjustments page to add an award refund:



You will then have to fill in the following fields:

  • Award - the payment that you refund (the Award Refund will be linked to that payment)
  • Reference # 
  • Payment Date - refund date
  • Amount - refund amount
  • Note


Note: If the required award is missing from the list this means this award has already had an award refund added for the whole sum. 


The award refund sum cannot exceed the sum of the award.

E.g. the award sum is $ 2,200.00. The student has already had an award refund of $ 1,236.00. Therefore you cannot add an award refund of more than $ 964.00.

So it is impossible to create a duplicate award refund:



Note: If the award is received and is then refunded it can be received again.


Also, you can add an award refund using the Financial → Import → Import Refunds tab. More information on how to use import in GEGI can be found in the following article: How to use the "Financial → Import" Tab?


Editing an Award Refund


The Student "Name": Edit Award Refund page allows editing award refunds:



You need to use the Edit button on the Student "Name": Award Refund Details page to open it.


Note: If you want to cancel an award refund you will have to create a new award.  



1. The Student "Name": Award Refund Details page shows a link to the corresponding award:



2. The Student "Name": Estimated Award Details page includes all the payment history (all awards and award refunds): 



3. Schedule of Funding shows the estimated awards including all the awards and award refunds.

That means if the estimated award has been received and then refunded the report will display this award as a not received payment:



Payments that require refunds (awards were voided in the Financial Aid plan but have been paid earlier) can be found using the Paid Amount = More than Amount and they will be also highlighted in red  in the report: