• Advancement
• Enterprise Systems Support
• Finance & Accounts Receivable
• General Systems
• Human Resource Information Systems
• Banner Student & Financial Aid

Banner Student & Financial Aid

Randy Crockett, Project Manager

Banner2000 Financial Aid System Functions and Features

The Banner2000 Financial Aid System performs the following functions:

• Applicant Record Creation creates records for the current aid year. This is done using the electronic data exchange (EDE) records that are matched against students in the Banner system.
• Need Analysis/Verification uses rule-based processing established by the Office of Scholarships and Financial Aid (OSFA) to determine the financial need for each student.
• Requirements Tracking tracks the various documents and associated requirements for a student to be eligible for financial aid.
• Pell Electronic Data Exchange supports the Student Aid Report (SAR) receipt and SAR data correction portions of the Department of Education's Electronic Data Exchange (EDE) function. Through EDE and its communication software, Institutional Student Information Records (ISIRs) can be received and Pell corrections sent. This process provides the capability to load ISIRs into Banner and automatically collect Pell corrections for subsequent processing.
• Packaging/Disbursements uses rule-based processing to create the award packages in this module based upon the data created/maintained by the Needs Analysis function. Subsequent disbursements are also processed through this module with an interface to Accounts Receivable.
• Budgeting establishes the budgets for each student. While supplied as a module, the delivered process did not provide the necessary functionality Virginia Tech needed. This module is a clip-on that Virginia Tech developed locally to allow term-based budgeting.
• Award History/Transcripts maintains the award history and financial aid transcript information for students.
• Funds Management manages the monies that can be (or are left to be) awarded to students. There is a link between a fund in Financial Aid and a detail code in the Finance System.
• Short-Term Credit is equivalent to what Virginia Tech has processed as emergency loans.
• Student Employment maintains and tracks the work-study program. There are some links to the Human Resource system that control the amount of money a student can earn. Virginia Tech has taken steps to enhance the links to the Human Resource system.