Financial Aid return

Dale Cecil
Dale Cecil
Third Anniversary Kudos 1 Name Dropper Facilitator 1
in Blackbaud Higher Education Solutions™ General Discussions

How do you record a return/reduction of financial aid that correctly reflects a reduction in grants for 1098T without comprising integrity of original award on the account?

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  • Dawn Alonso
    Dawn Alonso
    Sixth Anniversary Kudos 3 Name Dropper Participant

    @Dale Cecil

    Manual adjustment is the way I do this. Unfortunately, because there is not a refund option at all in Billing Management, payments and Financial Aid are compromised and require examination of the account to make sure things are computed correctly. I then adjust the 1098T to reflect the proper amounts, if needed.

    We also don't have many returns, so we don't have it as hard as larger schools.

    We REALLY need a refund option for payments and Financial Aid so that things can calculate accurately. Patching together a billing item to handle refunds is not the way to go.

  • Dale Cecil
    Dale Cecil
    Third Anniversary Kudos 1 Name Dropper Facilitator 1

    @Dawn Alonso

    Yes, we REALLY need a refund option….I really don't understand how/why it isn't in there. Seems VERY basic and VERY critical.

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