The Financial Aid Estimate is a financial document for students with pre-estimates for the Financial Aid. It is a simplified form of the Financial Aid Plan. It can be created for a student in any stage and for each group of the student.
The FA Estimate is created at Student Profile → Financial tab → Details tab. Select the Create Financial Aid Estimate action in the corresponding group row:
Then select the FA Plan template and student’s ISIR, and click Create.
The created FA Estimate will be filled with the information from the selected FA Plan template. The ISIR information will be displayed:
The FA Estimate is created:
Note: Net amounts are calculated by the formula: Net Amount = Gross Amount − (Gross Amount × (1 − Selected Origination Fee Amount) / 100). And in that calculation, firstly, the gross amount is divided in two equal parts, then the net amount is calculated for each part and summed up.
You can delete, edit, and add new awards in the FA Estimate. Edit it by simply changing the amount in a cell. To delete an award, use the Delete item in the Actions drop-down menu at the bottom of the page:
Add a new award by clicking the Add Award item in the Actions drop-down menu at the bottom of the page:
FA Estimates can be generated as a PDF document. Click the View FA Estimate (PDF) item in the Actions drop-down menu:
You can send FA estimates to a student using the Send FA Estimate item in the Actions drop-down menu at the bottom of the page. This action requires confirmation:
After the email was sent, the email date and time are reflected in the FA Estimate Sent on field:
This information is also shown in the FA Estimate Date field in the FA Tracking Report:
FA Estimate Automation
When creating an FA Estimate for a student, the Create Financial Aid Estimate window requires filling in the following mandatory fields: SAI, Dependency Status, and Grade Level in College. These fields are populated automatically when an ISIR Transaction is selected, and are used to estimate the student’s aid.
After filling in the ISIR information, a dialog prompts the user to specify whether the student has credit-granted courses. If the student is credit granted, a course selection page allows choosing courses assigned to the student.
Note: FA Estimate Automation is currently in development. Automatic calculation of Estimated Awards based on the provided ISIR data will be available in future releases.