The Financial Aid module meets all the data processing challenges facing a typical Financial Aid Office at a postsecondary institution. This comprehensive, flexible, table driven, fully integrated, secure module of CAPS automates the entire financial aid process and eliminates monotonous paperwork.
The Financial Aid module meets all the data processing challenges facing a typical Financial Aid Office at a postsecondary institution. This comprehensive, flexible, table driven, fully integrated, secure module of CAPS automates the entire financial aid process and eliminates monotonous paperwork. This module determines a student’s eligibility, calculates a student’s aid package, files the appropriate information with Federal or State agencies that require it, administers the various Financial Aid budgets, helps to ensure compliance with College, Federal, and State program requirements, exchanges information with Admissions, Registrar and Bursar Modules, and posts expected and actual awards to student accounts.
The module interfaces with ED Express to manage Federal Direct Lending, ISIRS and Pell. Other CAPS modules are consulted seamlessly to determine student aid eligibility and status. The interface to the Admission module facilitates the packaging of prospective students and eliminates the need to check a prospect’s admission status and scholarship information when packaging. When posting aid to a student’s account, either actual or expected aid, other CAPS modules can be consulted to ensure student enrollment and registration as a prerequisite.
Easy to use, productive and intuitive!
Flexible security system allows different levels of access to data!
Access to sensitive information must be carefully controlled. Our security subsystem allows administrators to create accounts for users with just the right level of access – view, change, add and delete - to data required to perform their tasks. Users can be created with access to selected schools and campuses with different levels of access to functions and files. Data authority is at the field level, too! Users with the proper authority can access other modules in the CAPS system, such as Admissions, from within the Financial Aid module. This allows for a virtually unlimited number of combinations of authorized users and their access to functions and data.
Generate on-demand Award Letters
A student can sit down with a Financial Aid Counselor and, within a couple of minutes, walk out with an award letter, appropriate Loan Promissory note(s) and an expected family contribution is calculated via the Federal Methodology. Need analysis data can be electronically sent to the Federal Central Data Processing System saving you, and the student, time and energy.
Verification and Document Tracking
The module interfaces with the Department of Education software, ED Express, to identify students in need of verification, request documentation from the student via a word processing interface, determine when verification is complete and allow further aid processing to continue (e.g. posting of aid to the student account) once this verification is complete.
Control and Budget Institutional Funds by School and Campus
Institutional budgets can be set up to monitor and control the amount of institutional money being offered by individual Schools and Campuses.
Integration with Admission, Registration and Bursar Modules
The Financial Aid module interfaces with other CAPS modules allowing a user to seamlessly, but securely, manage a student’s aid across the entire institution.
Automatic Calculation of TAP (New York State)
The module will calculate the New York State Tuition Assistance Program awards automatically and exchanges data with NY Higher Education Services Corporation.