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Campus Administrative Training Series / Bloomington Financial and Administrative Resource Page
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IUB Awarding Best Practices

Activity: IUB Awarding Best Practices
Financial Policy:

N/A

Related Policies:

Higher Education Opportunity Act of 2008
http://www2.ed.gov/policy/highered/leg/hea08/index.html

Additional Forms:

N/A

Things to Know:

  • Please see Awarding Best Practices Document: Awarding Institutional Gift Aid (Scholarships, Grants, and Fee Remissions) to Undergraduate and Graduate Students attending Indiana University
  • Any funds awarded by the institution to an IU student, regardless of the timing of awards, are considered a resource with the limited exception of prizes (defined below). This includes scholarships, fellowships, fee waivers, and all monetary benefits with the exception of wages for service to the University which must be paid through Payroll.
  • Regardless of the timing of an award, it must be attributed to the enrollment period it was intended to cover even if that period has ended. SIS award entry is restricted to one week prior to the last day of each academic term. Please be aware of entry deadlines provided by the OSFA.
  • An IU student may receive institutional funds intended for periods of non-enrollment (usually summer) if this is consistent with the purpose of the funds.
  • Funds for IU students who are enrolled are always awarded through the SIS. This ensures that resources are tracked in the event that a previously non-enrolled student subsequently enrolls and receives federal aid.
  • Indiana University strives to comply with the intent of donors when administering funds to students and others on their behalf. However; donor intent, no matter how specific or strongly worded, may not supersede the University’s obligation to meet federal regulations that apply to students receiving federal aid.
  • The regulations for federal financial aid recipients allow for certain limited exceptions, as well as the manipulation of loan funds for accommodating additional resources and resolving overawards. Evaluation of the circumstances and determination of appropriate treatment is at the discretion of the financial aid office. It is important to note that any awards made by the institution are considered as awards made by the financial aid office—not by an outside entity.
  • Departments awarding funds to offset additional COA should submit that documentation to the OSFA via a form designed for that purpose. The OSFA will then review the documentation and make allowable adjustments to the COA when the department has posted the award in the SIS. Awards submitted for students who do not have adequate room for the award because of financial aid will be reviewed on a case by case basis by the OSFA.
  • It is the IU department’s responsibility to monitor the expenditures on their accounts including scholarships/fellowships awarded, disbursed, adjusted or cancelled.
Please contact the Office of Student Financial Assistance (OSFA), deptsch@indiana.edu for questions.