How to Create a New Financial Aid Fund Code USF University Scholarships and Financial Aid Services (USFAS)
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Purpose
This presentaAon will provide guidance on how to properly establish a new financial aid fund code using the appropriate USFAS scholarship form and how to submit the necessary form to ensure Amely processing. 1/7/13
USFAS New Fund Code Form and Processing Ñ
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USFAS New Fund Code Form should be used to create a new /iniAal scholarship fund code. An USFAS fund code is needed to disburse any scholarship/grant to students through OASIS/Banner Student ProducAon (PROD). As indicated on the form, USF Founda*on scholarships/grants need to be sent to a USF Founda*on administrator to be signed. Ò
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The USF FoundaAon will send the form to USFAS.
For non-‐USF Founda*on programs, the form is sent directly to USFAS. Ñ Processing standards is typically (5) business days 1/7/13
USFAS New Fund Codes Forms cont. Ñ
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Once the form is submiOed, USFAS will coordinate with the University Controller’s Office in creaAng a Financial Aid Fund Code. This process typically takes up to 5 business days to complete. ATer the financial aid fund code has been created, the college/department will be noAfied via email that payments may be requested. The USFAS Fund Code form can be found on the USF Staff Portal, under the Scholarship Request Forms menu item. 1/7/13
USFAS New Fund Code Form The next secAon will provide steps that explain how to complete the USFAS New Fund Code Form. By presenAng each secAon of the form and providing and explanaAon of the informaAon needed in each secAon.
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Steps for CompleAng the USFAS New Fund Code Form 1. Follow all the instrucAons that are listed at the top of the form. 2. Please take note of the processing standards of service listed on the form.
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Steps for CompleAng the USFAS New Fund Code Form 3. SecAon A: Program Name Ó Ó
Enter the name of the program/scholarship to be created. The program/scholarship name listed in this secAon will be the name of the program as it should appear to students via OASIS web and their Financial Aid Award LeOer. Ô Ô
The Program Long Name will appear via OASIS web. The Program Short Name will appear via the student’s Financial Aid Award LeOer.
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Steps for CompleAng the USFAS New Fund Code Form 4. SecAon B: Source of Funds
FAST Chart Fields are for non-‐USF FoundaAon scholarships/grants only 2. Select the applicable type of fund for this scholarship. 3-‐4. Select if scholarship/grant is NaAonal InsAtute of Health (NIH) or NaAonal Science FoundaAon (NSF). 5. FoundaAon Accounts ONLY: Provide the six character foundaAon account number associated with the program/scholarship. 1.
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Steps for CompleAng the USFAS New Fund Code Form 5. Sec*on C, D, and E: Accountable Officer, Administra*ve Name, and Awarding Unit Informa*on Ñ The Accountable Officer= An Authorized Signer for the specified account/fund. Ñ The AdministraAve Name=Fund code update iniAator/creator of the form. Ñ College, Department, and Awarding Unit= Fund code awarding informaAon.
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Steps for CompleAng the USFAS New Fund Code Form 6. Sec*on F: Awarding and Disbursement Rules 1. Minimum Enrollment: Ó
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Full Time=student must be enrolled full Ame for their degree status (UG=12 UG credit hours; GR=5 GR credit hours) 3/4=Student must be enrolled in at least ¾ Ame 1/2= Student must be enrolled at least ½ Ame At Least (1) AcAve USF Credit Hour
2. Award Maximum Amount Per Year Per Student: Enter the award amount that a single student can receive in an award year. Ó
If this secAon is leT blank USFAS will automaAcally default to $5000.
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Steps for CompleAng the USFAS New Fund Code Form 6. SecAon F: Awarding and Disbursement Rules 3. Requires FAFSA: Select “Yes” if program/scholarship requires student to
complete a FAFSA before scholarship can be awarded. 4. Thank You LeOer Required (TYL): Select “Yes” if scholarship recipients are required to submit a thank you leOer prior to receiving their scholarship funds. Ó Annual per award year: This opAon will require the student to submit a TYL each year (annually) that the student is awarded the scholarship. Ó Once per student: This opAon will require the student to submit the TYL only once to receive their scholarship disbursement. If the student is awarded the scholarship in future years, no new TYL will be required to disburse the scholarship for that student. 5. Terms and CondiAons (T&C) Required: Select “Yes” if scholarship recipients will be required to accept T&C before the scholarship will disburse. Awarding Units will be able to collaborate with USFAS to create T&C.
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Steps for CompleAng the USFAS New Fund Code Form 6. SecAon F: Awarding and Disbursement Rules 3. Requires FAFSA: Select “Yes” if program/scholarship requires student to
complete a FAFSA before scholarship can be awarded. 4. Thank You LeOer Required (TYL): Select “Yes” if scholarship recipients are required to submit a thank you leOer prior to receiving their scholarship funds. Ó Annual per award year: This opAon will require the student to submit a TYL each year (annually) that the student is awarded the scholarship. Ó Once per student: This opAon will require the student to submit the TYL only once to receive their scholarship disbursement. If the student is awarded the scholarship in future years, no new TYL will be required to disburse the scholarship for that student. 5. Terms and CondiAons (T&C) Required: Select “Yes” if scholarship recipients will be required to accept T&C before the scholarship will disburse. Awarding Units will be able to collaborate with USFAS to create T&C.
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Steps for CompleAng the USFAS New Fund Code Form 7. SecAon G: CerAficaAon Ñ
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Forms must be signed by an Accountable Officer for the specific fund. It is preferred that the AO whose informaAon is listed in “SecAon C” sign the New Fund Code form. The form must be sent to the USF FoundaAon for the appropriate signature, if the fund is a foundaAon fund. By selecAng “Print Form” the form can be printed. It is recommended that the form is reviewed for accuracy prior to and aTer prinAng.
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Submimng the New Fund Code Request Forms Ñ
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Forms must be sent as aOachments via email to
[email protected] for processing. Only emails sent from authorized USF staff that include USFAS Scholarship forms will be processed by this email box. Ó
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There will be no replies to emails sent to the
[email protected] email account other than the automated Outlook receipts.
Emails sent directly to USFAS staff will not be processed. Please do not submit any payment requests forms for the new fund code unAl a noAficaAon is received from USFAS that the new fund code has been created and is ready for use. 1/7/13
Any QuesAons? Contact a member of the USFAS Staff
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