Financial Aid

Financial aid for the modern institution.

Using a clean slate and contemporary technology, Workday has redesigned financial aid to replace the limiting business processes and technologies developed decades ago.

Financial aid officers can drill into and filter dashboards to best identify specific student populations and take action on individuals or cohorts of students.

Simple, fast, and intuitive views of financial aid verification requirements transform the daily routines of financial aid officers.

Actionable analytics provide administrators with a contemporary and timely view of their most critical tasks, allowing decision-makers to prioritize their work in progress.

Simplify the administration of financial aid programs.

Workday Student Financial Aid streamlines the administration of aid programs from federal, state, institutional, and private fund sources, ensuring education accessibility and success for students.

  • Automate financial aid processes such as cost of attendance, packaging, and verification.
  • Optimize financial aid packaging and repackaging through unique institutional configurations using the robust Workday calculation engine.
  • Provide the power of self-service to students and their parents to add, update, and view information and take action throughout the financial aid cycle.

Flexible packaging methodologies.

Workday Student Financial Aid has been designed to accommodate the full spectrum of packaging methodologies including need-based, merit, and graduate student support.

  • Process need-based aid using the student's ISIR and leverage the power of packaging and repackaging to determine eligibility for any defined financial support.
  • Streamline the calculation of merit aid or graduate support programs through a seamless blending of admissions profile data and financial aid application details.
  • Leverage the rich data associated with student recruiting and admissions engagements to optimize enrollment yield models.

Financial aid regulatory compliance and updates.

Colleges and universities rely on federal, state, and outside financial aid programs to ensure fiscal models are sustainable into the future.

  • Automatically maintain regulatory updates related to ISIR files, Pell Grant tables, and Common Origination and Disbursement (COD) files by leveraging Workday’s cloud delivery.
  • Remain current and compliant every year so your financial aid office can spend more time counseling students and less time updating system requirements.