The Funding and Funding Allocation objects can be used to provide financial assistance for students. This can take shape in the form monetary benefits like Scholarships or Sponsoring, or in discounts to their student fees.
The Funding object needs to be created first. Once a student's application for Funding is approved, a Funding Allocation will be automatically created for that student. It will then be disbursed to help pay Student Fees from enrolled Courses.
For use case examples, see:
- Scholarship (Disbursement).
- Scholarship (Fee Line).
- Creating discounts for Student Fees.
- Creating discounts for Study Offerings (Continuing Education).
For the custom metadata to configure the Funding Types and their order, see: Funding Type Disbursement and Order (Custom Metadata Type).
The type of Funding. Available types:
|(Not for Discounts) The total available funds for this Funding.
|(Only for Discount Funding Type) The flat amount to be applied to any applicable Student Fees.
|(Only for Discount % Funding Type) The percentage to discount for any applicable Student Fees.
|Automatically calculated, rolled up from Funding Allocations. This is the amount that has been allocated to Students.
|Automatically calculated, rolled up from Funding Allocations. This is the amount that has been allocated to Students, and been applied to Student Fees.
|Funding Start Date
|Funding will only be applied to Student Fees due after this date.
|Funding End Date
|Funding will only be applied to student fees due before this date.
|Max Amount per Term
|Will cap how much funding is applied to each Student Fee per Term.
E.g. Max Amount per Term of $5,000 means only $5,000 will be applied to that Student Fee, even if there are more funds available (this will not apply to Program fee methods).
|Max Amount per Student
|Can be used as a reference for how much to allocate to students.
(No automation surrounding this field.)
|Student Selectable Amount
|Allows the amount of funding assigned to be customized. By default, the maximum possible amount is always assigned.
|Order of Priority
Indicates sequence of funding that will be allocated to Student Fees.
Allows admin to configure the sequence when applying the funding allocation to Student Fees.
The funding will be ordered according to the following with nulls last concept:
|Applicable Fee Unit
|Specify which type of Fee to apply the Funding to.
Used in conjunction with the checkbox 'Filter by Fee Unit'.
|Filter by Fee Unit
|Only apply this Funding to Fees with the Fee Units specified in the 'Applicable Fee Unit' field.