Creating and Editing a Payment Period

To create a payment period, complete the following steps:

  1. Select System Administration in the top navigation bar to open the System Administration menu along the left side of the page.
  2. Expand the Campus Information options in the left navigation menu and select Payment Periods.
  1. Select the + icon next to the Payment Periods header to open the Create New Payment Period window.
  2. Enter the name you want the payment period to use within the application in the Payment Period Name field.
  3. Enter the name you want the payment period to use in communications in the Display Name field.
  4. Complete the fields in the Payment Period Information section.

    Tip: Use the field level help included in the PowerFAIDS user interface for fields you are unsure about by selecting the info help-text icon icon next to the field in question.

  1. Enter the name the disbursement is known as within the application and in communications in the Disbursement Name field.
  2. Specify the date students will be disbursed their awards in the Scheduled Disbursement Date field.
  3. In the Percent to Pay section, enter the percentage of each award to be paid out in the associated disbursement based on the schedule set up for that award at the fund level.

    When you create your funds in System Administration, you will specify which of these Percent to Pay options you will use to distribute the award across distributions within the payment period: Standard, Alternate 1, or Alternate 2.

  4. Select + Add New and repeat the above steps to add multiple distributions to this payment period as needed.
  1. Expand the Institutional Category list to see the institutional categories you previously created and select the appropriate category.

    To create a new category, select Add New in the Campus Information > Cost of Attendance Categories section of the System Administration module.

  2. Expand the Selection Set list and select the selection set of students to which this cost of attendance category applies. This is the selection set used to determine eligibility for this cost of attendance category. Any student associated with this payment period who falls into or out of this selection set will have the associated cost of attendance category added or removed accordingly.
  3. Specify the type and amount of Base Cost for the associated cost of attendance category.

    There are two ways to specify the base cost:

    • Fixed Amount: This option allows you to manually enter the base cost for this cost of attendance category.
    • Custom Process: This option allows you to select one of your previously created custom processes to calculate the base cost for you.
  4. In the Enrollment Status Factor section, enter the percentage of the base cost you want applied for each enrollment status.

    If you do not want to factor the cost by enrollment status, the system will use a default value of 100.

  5. Enter any internal information relevant to the cost of attendance category that's not captured elsewhere in the Note field.
  6. Select + Add New and repeat the above steps to add multiple cost of attendance categories to this payment period as needed.

A success message is displayed in the upper right portion of the page letting you know the payment period has been created.

Note: This payment period is now available to add to students. See the additional topics linked in the sidebar for more information.

  1. Enter the name you want the R2T4 scheduled break to be known as within the application in the Scheduled Break Description field.
  2. Enter scheduled start and end dates of the break in the Break Start Date and Break End Date fields.
  3. Select + Add New and repeat the above steps to add multiple R2T4 scheduled breaks to this payment period as needed.

Note: For more information on working with custom process targets, see Custom Process Targets.

  1. Select + Add New to add a new custom process target in the Custom Process Targets table.
  2. Select the population for which to associate the custom process target from the Selection Set list.
  3. Select the appropriate custom process target from the Custom Process Target list.
  4. Once you have completed each of the fields in the row, select Save save icon. You can also select Cancel cancel icon to discard your changes.

Once you have completed the fields in each section as needed, select Save.

A success message is displayed in the upper right portion of the page letting you know the payment period has been saved.