An Award Year is defined by the United States Department of Education as starting July 1 and ending June 30. It is referred to as the 2007-2008 or 2008-2009 award year. It defines the time period for which students apply for financial assistance to cover educational costs related to their school attendance within that time period.
PowerFAIDS also defines an Award Year in the same manner. It describes each year either as 2007-2008 or as 2007. PowerFAIDS structures its application to process records within specific award years, and it is essential to communicate with PowerFAIDS based on award year.
Jenzabar defines Award Year consistently with PowerFAIDS and the Department of Education. However, institutions can define their academic year and fiscal years differently. Jenzabar maps PowerFAIDS POEs (periods of enrollment) that belong to specific award years to individual J1 year and term codes for each module, which provides flexibility to equate each time period as needed for each module's functions.
When performing a database transfer to PowerFAIDS, you must select the award year to which the transfer data applies in the Create Student Update for Financial Aid window. The year selected must map to the Academic Year selected; otherwise, the POE IDs will not match and the data will not transfer as expected and may erroneously create new POE records for PowerFAIDS students. For example, if you are working in the 2007-2008 award year in PowerFAIDS, enter 2007 in the Award Year column. If your registrar defines the Academic Year code for the 2007-2008 year as 2008, enter 2008 as the Academic Year, as this will map to the 2007 award year in PowerFAIDS.
This column displays all possible values for AWARD_YEAR_NAME in the PowerFAIDs AWARD_YEAR_DEFN table.
The Award Year selected on the Match Records window becomes a part of the selection query to retrieve the pool of PowerFAIDS applicants to attempt to match against the constituents in the J1 database.
The POEs to Process group box on the Anticipated Aid window displays POEs within the three (3) most recent award years present in PowerFAIDS. New award years in PowerFAIDS are created annually when you install either the .0 or .1 release and run the Parameter Roll.
Use Award Year, a view-only column on the POE Definition window, to sort and select POEs within a given award year.