Policies and Procedures for Ensuring Awards are Made Within Fiscal Limits

PURPOSE:

To set forth policy and procedures to ensure that Title IV and institutional funds are awarded within fiscal limits.

POLICY:

It is the policy of the University of Maryland Eastern Shore through the Office of Student Financial Aid, to utilize federal, state, and institutional funds to benefit as many students as possible within the fiscal limits of each program.

PROCEDURES:

  1. Access People Soft Fiscal Limit Menu (home► administer financial aid► package and disburse aid► setup► fiscal item types► financial aid.
  2. Enter aid year (i.e.-2004 for 03/04, 2005 for 04/05).
  3. Enter item type for aid program.
  4. Enter appropriate amounts for:
    • Maximum to offer
    • Maximum to accept
    • Disbursements
  5. Save changes.
  6. The allocation should be entered for the entire academic year, not per session.
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