Student Financial Aid Automated Awarding-Initial is now being used by 3 institutions with 48 campuses. Another 3 institutions are in various stages of implementation. SFAAA-Initial supports BBAY and SAY awarding. Institutions can now deliver traditional SAY/BBAY programs on campus while supporting continuing education and/or online programs in other models using BBAY/SAY awarding student centered academic calendars such as nonstandard term, non term and/or standard terms. Institutions have more options and choices to support their students if they desire.
As a former Vice President/Director of Financial Aid, I recall the challenges that came with trying to support the various academic and financial aid delivery models. Many times, reluctantly, I had to say “No” to my Dean of Continuing Education because of the lack of technology to support a different operational delivery financial aid models within a single system. The administrative burden to support both was very difficult to train, manage, manually support and maintain without introducing risk and additional cost.
I didn’t like the idea of saying no because I knew there were students who would miss out on their educational dreams. Solving this challenge has been one of my highest priorities in my financial aid career.
With SFAAA-Initial and Financial Aid Automation, there is now greater opportunity to embrace multi-financial aid operational delivery models within a single system.
CampusNexus Student Financial Aid Automation features provide more opportunities for institutions to increase student populations in traditional and non traditional models while introducing new revenue streams.
Features include a robust Cost of Attendance configuration, Fund Source Prioritization by campus, Global settings for one or more campuses. Configurable fund source rules and much more to help an institution automate awarding along with self service capabilities using Workflow and Eventing.
For more information, contact your Customer Enablement Manager.
FAA Product Manager