If you manage financial aid, you’ll begin using Workday in conjunction with PowerFAIDS in February 2025.
PowerFAIDS and Workday will begin sharing information on Feb. 17, 2025, but most of your work will remain outside Workday until summer 2025.
Two systems
Once financial aid data is available in Workday, you’ll need to know what information is available in each system, and how they work together.
You will continue to use PowerFAIDS to manage most aspects of the financial aid process, including organizing and tracking students’ award packages, assessing students’ financial aid needs, offering aid to students, awarding and managing Federal Work-Study, and viewing and creating financial aid-specific notes.
In Workday, you’ll be able to view students’ anticipated aid amounts, view disbursed financial aid within Student Financials, view students’ Federal Work-Study earnings, refund extra money after student balances have been paid, and manage Satisfactory Academic Progress evaluation and processing.
Students will use Workday to view their complete student financials picture, including both anticipated and disbursed financial aid, making it easier to plan financial payments and understand their true financial responsibilities. Students will continue to use PowerFAIDS to accept their financial aid award packages, and parents will continue to use PowerFAIDS to accept Parent PLUS loans, if applicable.
Timeline
Key dates and tasks for processing financial aid
| Dec. 2024-Feb. 2025 | Complete your self-led training path in Workday Learning, which includes several eLearnings. Attend a session of the Financial Aid and Workday instructor led-training, offered in January-February 2025. |
| February 2025 | Financial Aid advisors will be visible in Workday. |
| June and July 2025 | Tuition and fees will be assessed for students. MD years 2-4 will be assessed on June 17, 2025. All other students will be assessed July 1, 2025. Information related to financial aid packaging and anticipated aid will begin flowing between PowerFAIDS and Workday. For MD years 2-4, this will begin by June 17. For all other students, this will begin by July 1. After those dates, anticipated aid will be visible in Workday’s Student Financials area when charges have been assessed. |
| Sept. 1, 2025 | Students’ Federal Work-Study earnings will be visible in Workday. |
| May 2026 | Satisfactory Academic Progress evaluation and processing will begin occurring in Workday, after the spring 2026 academic period. This is for both the Danforth and Medical campuses. Students will receive SAP information via Workday and will appeal via Workday. |
What’s changing
Determining charge order
Using Workday, we will also be able to control which charges on a student’s account are paid first and which funds or aid may be used to pay which charges. This control will help us both provide a better student experience and ensure regulatory compliance.
Satisfactory Academic Progress appeals
The SAP appeals process must be kicked off by a Financial Aid administrator in Workday to route the appeals questionnaire to the student. Students will also receive notifications about their SAP within Workday.
Enhanced access to financial aid data
Financial aid administrators will be able to view student Satisfactory Academic Progress status and Federal Work-Study earnings on the student profile in Workday. Students will be able to view their own Satisfactory Academic Progress status and their Federal Work-Study earnings within their Financial Hub.
Financial aid advisors
Students will have Financial Aid Advisors, as part of their Student Support Network, which they can view in Workday. The advisor label for this type of advisor is specific to the school or program (e.g. Graduate Arts & Sciences Funding Advisor or MD Financial Aid Counselor).
Training and Support
You may be apprehensive about using and getting comfortable in a new system. That’s why our comprehensive training plan includes a multitude of resources you can take at your own pace, along with in-person instructor-led sessions. Explore resources and get help from the Training & Support for Financial Aid Administrators webpage.