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Payment to Student Processing

guidelines for all payments to students for temple departments

All payments to students (scholarship, award, stipend, fellowships, reimbursements, graduation gifts, prizes, etc.) must be processed through Student Financial Services (SFS) since all are considered financial assistance per U.S. Department of Education student financial aid regulations. As an educational institution, we at the University cannot award funding directly to our enrolled students via Accounts Payable, Diamond Dollars, etc...

All payments to students that do not require service (compensation provided via W2) must come through the Student Financial Services office for processing to the student’s account. It is up to the school/college to communicate to the students from the beginning that the funding will go against all billable charges (tuition, fees, housing and meal plan) first and then be refunded if possible.

In general, a student’s total financial assistance (from federal and non-federal sources) may not exceed the student’s financial need (as determined by the FAFSA). Receipt of scholarship assistance may reduce a student’s eligibility for federal and/or institutional loans, grants, scholarships and/or work study with the specific impact determined based on each student’s individual financial circumstances and financial aid eligibility. Temple University is liable for any overpayment or over-award made to an individual student and must immediately resolve the overpayment/over-award. Failure to comply with these regulations may result in institutional fines and loss of federal funding.

 

process for disbursing payments to students

Utilize the Payments to Student Excel templates for fall/spring semesters or for summer only to ensure all necessary information is reported.

  • Templates are found in the University Forms section within the Staff Tools tab of the TUportal (search payment to student).
  • Departments set-up and approved to use Blackbaud do not use the Excel process. In both cases, the funding will be posted and applied to the student’s account.

Make sure the Excel is complete - incomplete requests cannot be processed and will be returned to the department for revision.

    • Aid year for posting (2019-20 or 2020-21) - DO NOT INCLUDE MULTIPLE AID YEARS ON THE SPREADSHEET
    • TUID and student’s full name
    • Scholarship/Award/Stipend Name- If this is a new fund that has never been awarded in Banner, let us know by indicating NEW and we will then work to create it in Banner. Let us know what you want the funding to be called in Banner.
    • Banner Fund ID- schools/colleges must keep their own master list of Banner four-digit Fund IDs.
      • If this is NEW please indicate that in this column.
      • Keep a master list of your school/college Banner Fund IDs with FOAP
    • FOAP- Include FOAP – and per the Bursar, we will create new funding in Banner with account code 7611 or 7001
    • Semester amounts – use separate spreadsheets (one for fall/spring and a separate one for summer) - DO NOT INCLUDE MULTIPLE YEARS ON THE SPREADSHEET
      • Example: one spreadsheet is sent in June for the upcoming fall/spring aid year; one spreadsheet is sent in March/April for upcoming summer term(s)
    • Enrollment Requirements- we ask if full time enrollment required because Banner defaults to full time when creating a new Fund ID. If your school/college allows a student enrolled less than full time to recieve the funding please let us know.
    • New Funding? Let us know if we need to create a new Banner Fund ID and please note this will take a couple of days.

considerations

Accounting

  • It is the department’s responsibility to do the following:
    • Submit a funding spreadsheet with the correct FOAPAL to be charged.
    • Submit funding spreadsheets with correct SFS Fund IDs for each fund and maintain a master copy within the department. 
    • Review the cost center for each fund and work with General Accounting regarding all accounting questions/concerns prior to submitting to SFS for posting.
    • Process any Journal Entry Transfers that may occur if incorrect fund information is submitted to SFS.
    • Keep track of all funding spreadsheets sent to SFS – including recipients, accounting and award amount lists organized within the department.  It is strongly recommended that there be a “back up” person within the department for submitting funding information to SFS.

Timing

  • SFS begins notifying new students of their financial aid offers (first year and transfer) for an upcoming academic year in February. We encourage your department send SFS new student funding to post as early as January.  
  • SFS notifies our returning students of their financial aid offers the last week of June. We encourage your department send SFS returning student funding to post as early as May.
  • Summer funding should be sent over in April. 
    • If the student isn't enrolled during the summer term, SFS will apply funding to the prior spring semester. 
    • Funding can only apply to a student’s account if they are enrolled.
  • SFS is not authorized to remove late registration, late payment, installment or any other fees that result in the late submission of scholarship spreadsheets for posting. 
  • During peak periods, it can take 10 -14 business days for SFS to post the funding.

​​​​​​​Duration:

  • Financial aid offers are processed for the academic year (fall/spring) at the time of initial notification. Therefore, it is always in the best interest of the students to offer funding for both semesters of the academic year. This eliminates late and confusing revisions to the financial aid offers that are necessary when full year awards are submitted by semester, rather than for the full year.
  • SFS will not automatically renew departmental funding. A new spreadsheet request is required for each aid year.

Disbursement:

  • All financial aid funding is able to begin to disburse to an enrolled student’s account the Friday before the start of the semester.  
  • Delayed disbursements can occur if a student is enrolled less than full-time (please indicate on spreadsheet if a certain enrollment is required); last minute submission of a funding spreadsheets to SFS and/or financial aid requirements not fulfilled by student recipient.   
  • SFS will review all unapplied scholarships after the drop/add period ends.

Eligibility:

  • Full time enrollment (12 or more credits for Undergraduate and 9 more credits for Graduate students) is assumed by SFS when posting funding unless the department notates otherwise.
  • If financial need is a requirement it should be specified on the scholarship spreadsheet.
  • Departments should contact scholarships@temple.edu with any revised spreadsheets if a recipient’s eligibility changes during the year. Please mark the updated spreadsheet as ‘Revised’ to avoid confusion.