Financial Aid Awarding Solution

The Vendor is required to provide a comprehensive enterprise-grade financial aid awarding solution to be deployed within a workday student ERP environment.
- Solution must support end-to-end financial aid operations, including automated awarding and packaging, regulatory compliance, analytics and reporting, and seamless integration with slate, workday, third party award management systems, and laser fiche (document management system).
- System must meet the following business requirements:
1. Federal title IV processing
•    Automated import and processing of institutional files.
•    Pell grant awarding logic (scheduled award, enrollment industry, lifetime eligibility used (LEU) calculations).
•    Direct loan processing – awarding, origination, disbursement, and reconciliation.
•    Campus-based aid packaging federal work-study and supplemental educational opportunity grant (FWS & SEOG).
•    Common origination and disbursement (cod) integrations and batch file exchange.
•    National student load data system (NSLDS) data usage for aggregate loan and Pell grant limits.
•    Ability to handle year-round Pell awarding.
2. Verification and eligibility
•    Automated FASFA comment code (c-code) and FASFA reject code resolution workflows.
•    Support for federal verification groups, document collection, and e-signature.
•    Satisfactory academic progress (sap) evaluation and appeals workflow.
•    Dependency overrides and professional judgment workflows.
3. Packaging and awarding
•    Rule-based awarding tied to student aid index (SAI), cost of attendance (COA), expected
•    Family contribution (EFC) equivalent logic, need analysis, and institutional policy.
•    Algorithmic packaging calculations.
•    Maintenance of multiple years of awarding strategies.
•    Auto-packaging, mass adjustments, and multi-year packaging plans.
•    Real-time calculation upon enrollment or housing changes.
•    Batch processing of outside scholarships to aid offers and adjustment of need-based aid.
•    Ability to award eight-week modules within a standard academic term.
•    Ability to package percentage-based scholarships.
4. Disbursement and reconciliation
•    Automated disbursement eligibility checks.
•    Daily disbursement file generation and cod matching.
•    Title IV reconciliation tools for monthly and year-end compliance.
5. Return to title IV (r2t4)
•    Automated withdrawal tracking (integration with workday).
•    Credit-hour and module calculation logic.
•    Audit-ready calculation records.
•    Final account statements and aid adjustment notifications.
6. Student portal
•    Mobile friendly.
•    Award letter generation and electronic acceptance.
•    Task tracking for documents and verification.
•    Real-time award updates.
•    Does the solution include a student portal or is it priced as a separate component?
•   Third party and parent portal
•    Capability to assign authorized designated parties to view financial aid offers and completion requirements.