Budgets

Use the Budgets page to configure budget definitions that represent the cost of attendance. In most cases, the budget applies to an academic year. The budget is the basis for financial aid grants and loans which are also based on academic years. While a budget shares common tuition, books, and supplies, budgets can also be added for different housing statuses (such as with parent, on campus, or off campus).

Budgets can be selected for students when academic years are specified for financial aid on the Academic Years tab ( Students > select the student > Financial Aid >  Awarding > Academic Years ).

The method you select to calculate institutional charges determines how Anthology Student calculates institutional charges when the budget for an academic year is displayed when financial aid is being awarded. Use the table to determine the option to use.

How Institutional Charges are Calculated for the Academic Year

Values to Use for the Calculation	Prerequisite or Requirement	Option to Select	How Institutional Charges are Calculated for the Academic Year
Always use the values you specify on this page	None	Use Amounts Entered Here	If you select: Yes for Use Monthly Amounts, the values are multiplied by the number of months in the academic year No for Use Monthly Amounts, the values you specify are displayed
The costs are configured for the program version on the Program Costs tab. (Configuration > Financial Aid > Program Versions)	The program version costs must be configured for the academic years you want to select when you award financial aid.	Calculate Total Program Costs	Using the following formula. (Program Costs Configured for the Program Version in Financial Aid / Total Number of Weeks in the Program Version) * (Weeks in Academic Year - Weeks Not Enrolled)
The fees you configured for the program on Enrollment Fees in Anthology Student (Students > select the student > Academic Records > Fees)	The frequency selected for the billing method configured for the program version must be a program, academic year, term, or quarter without a rate schedule. You cannot select this option for frequencies that use courses, payment periods, or have a rate schedule. You can select one of the other 2 options instead.	Calculate from Enrollment Fees	If the frequency for the billing method is: Program version, the total of full program costs Academic year, the total of the program costs for the academic year Term or quarter, the charge records multiplied by the number of billing cycles

For all of the options, the budgets for housing statuses on this page are used for the housing status you select when you award financial aid. If you select:

• Yes for "Use Monthly Amounts", the values are multiplied by the number of months in the academic year

• No for "Use Monthly Amounts", the values you specify are displayed

Prerequisites

Authorizations:

• Financial Aid - Configuration - Manage

To edit an item associated with multiple campuses, you must have access to all assigned campuses. If you have access to only some of the campuses, you can view the item but cannot edit it. When adding an item, you can select only campuses you can access.

Access

Configuration > Financial Aid > Budgets

Filters

By default, the grid displays records for all authorized campuses. Use the drop-down to filter by campus.

Add or Edit Items

1. Review the record values.

2. To:

   • Add a list item, select New

   • Duplicate a list item, select it and then select Duplicate

   • Edit a list item, select its Name

3. Review, specify, or change the values.

   Active Specifies whether the associated record is active. Books and School Supplies The cost of books and supplies for a program per award year. If a fee schedule is entered for the student's enrollment, the books and supplies default to the value in the fee schedule (if any). If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value. The Extended Budget allows for the books to be configured as Institutional or Non-Institutional. Campus Group The group you specified for the campus. Your institution configures the groups for campuses. Code The alphanumeric code assigned to the item by your institution. In most cases, codes must be unique. Select or assign the code for this item.

   Description The name of the item (e.g., data set, batch, job, process, task, person, organization, entity, file). Institutional Charges Method Specifies the method that Anthology Student uses to calculate institutional charges. For additional information, refer to the table "How Institutional Charges are Calculated for the Academic Year". Tuition The cost of tuition. If a fee schedule is entered for the student's enrollment, the default tuition is the Tuition value in the fee schedule. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value. Use Monthly Amounts Indicate whether the numbers you specify in the budget are for a month. If a value is displayed for an academic year when financial aid is awarded, the value is multiplied by the number of months in the academic year.

   When the Allow Extended Budget Select Yes to enable the enhanced academic year budget functionality in the Student Web App and legacy interface, so that any academic year that starts on or after this feature is enabled will display the extended budget view (to include automated awarding). This functionality permanently disables the Budget configuration in the legacy interface. All existing budgets can be calculated, but only newly configured budgets will have the additional three budget fee fields. advanced feature is enabled (refer to Advanced Features), any new budget created will allow more flexibility on what fees are institutional or non-institutional as well as provide configuration options for three more fees in the budget definition. All existing budgets can still be assigned to academic years. A user can only assign an extended budget to an academic year if the feature flag “Allow Extended Budget” is enabled and the academic year start date is on or after the date the feature flag was modified. This is designed to prevent users from assigning a budget to an academic year that doesn’t present the additional fee fields.

4. Expand Expenses - Parent and specify the expenses for students living with their parents.

   The expenses are grouped as Standard Charges and Other Charges.

   The value specified for “Housing and Food” in the budget configuration will apply to Academic Years and Loan Period budgets.

   Amount The dollar amount associated with the record. Housing and Food The estimated housing and food costs for the student for the academic year. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.   Institutional Amounts paid directly to the institution. They appear on the student ledger card and are counted as revenue for your institution. For example, tuition is an institutional charge. In most cases, travel is not an institutional charge. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the values from the budget. If you select the check box, Anthology Student automatically updates the values for Total Budget and Total Institutional to include the amounts. For the definition of an institutional charge, refer to the FSA handbook.

   Other Charges Description of any other charges that are considered as cost of attendance (COA). If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value. Room and Board The estimated room and board expense for the student for the academic year. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.  Read Note. According to the FAFSA Simplification Act for the 2023-24 award year, the Cost of Attendance (COA) item “Room and Board” is referred to as “Housing and Food” and grouped under living expenses. In Anthology Student, new or duplicated budgets will have the field label for “Room” or “Room and Board” automatically set as “Housing and Food”. Pre-existing budgets will continue to use the label "Room" or "Room and Board". The “Housing and Food” field label is editable. Anthology Student will save the edited label and propagate it to the Academic Year and Loan Period pages. If a user blanks out the label with spaces during Save or Save & Close, Anthology Student will save the label as "Housing and Food". Travel The estimated travel expense for the student. If your institution configured a default budget for the program version or you select a budget in the Budget Definition list, Anthology Student displays the value from the budget. You can change the value.

5. To use most or all of the expenses you specified under Expenses - Parent for the other two housing statuses, select Copy Expenses. Anthology Student copies the expenses to Expenses - On Campus and Expenses - Off Campus.

6. Expand Expenses - On Campus and Expenses - Off Campus and specify or review and change the values.

7. Review the results for each of the housing statuses.

   Total Charges Displays the total of values you have specified in the budget and represents the cost of attendance (COA) for this academic year or loan period. It includes tuition, books and supplies, room and board, travel, and all other charges. Total Institutional Charges Total amount paid to the institution. It includes tuition, books and supplies, and other charges that have been configured as institutional. For the definition of an institutional charge, refer to the FSA handbook.

8. Save your changes.