Restricted Funds and Financial Aid. Scholarships vs Financial Aid Scholarships  Benefit an individual  Typically not allowed on Restricted Funds Financial.

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Presentation transcript:

Restricted Funds and Financial Aid

Scholarships vs Financial Aid Scholarships  Benefit an individual  Typically not allowed on Restricted Funds Financial Aid  Often referred as Tuition Assistance  Benefits the grant  Common way of paying students’ tuition

Current Process  Submit a Scholarship Form  Have to acknowledge that you are awarding a scholarship  Have to acknowledge that it is not for restricted funding to have form processed  Problems with Current Process  Asks for inaccurate information  Once money is awarded, money belongs to students

Future Process  New Form  New Process  Allow for tracking of students completion  Allow for appropriate tracking with regards to money  Proration of funding with respect to projects

Questions???