3.5 Student Financial Aid
(Last Modified March 23, 2022) Report a broken link
SOURCES:
BoR POLICY 4.0, STUDENT AFFAIRS
This section provides the common best practice standards, procedures, and guidelines related to student financial aid. Institutions have authority, unless explicitly prohibited by policy, to require additional or higher standards and requirements for specific common best practices, procedures, and guidelines set forth herein.
Institutions seeking exceptions to these best practice standards, procedures, and guidelines must receive written approval from the USG鈥檚 Chief Academic Officer and must maintain record of the approval.
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(Last Modified March 23, 2022) Report a broken link
This section establishes the common business practices, procedures, and guidelines to be used related to student borrowing
The purpose for establishment of standard coding related to student borrowing is to align and standardize functional business practices across USG institutions. Aligning and standardizing the business practices surrounding establishment of standard loan borrowing coding will allow for the collection of data related to student borrowing. Additionally, collection of this data will provide a methodology to measure key performance indicators (KPIs) that align with several USG strategic initiatives like 鈥淜now More. Borrow Less.鈥
Specifically, institutions need to ensure that declined and cancelled loans, in addition to loan offers and acceptances, are correctly identified and coded in the Banner Student Information System (SIS).
The USG Office of Student Affairs provides the following common best practice document to financial aid practitioners to assist with the configuration and proper coding of loan related data elements in the SIS.
USG Student Borrowing Common Best Practice
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