Federal financial aid regulations stipulate that the University must take into consideration all aid provided to a student if the student has need-based financial aid. In order to comply with these federal regulations, which is audited annually by the State Auditor’s Office, the Student Financial Aid Office must be notified of all aid (including awards, prizes and other similar forms of payments*) provided to every student regardless of funding source. Therefore, changes to how awards, prizes, and other similar forms of payment are processed need to be implemented in order for the University to comply with Federal financial aid regulations: www.uiowa.edu/financial-aid/aidtypes/scholarships/index.shtml#OutsideFunds
Questions about these regulations should be directed Student Financial Aid (firstname.lastname@example.org).
As a result of this change, the University will discontinue the use of Special Compensation Payment -Award Forms for Students and Graduate Assistants currently available through the Human Resources Transaction System. Beginning on July 1, 2012, all awards, prizes and other similar forms of payment to a student (defined as anyone enrolled in formal course work currently or during the last six months) must be processed through MAUI Scholarship Workflow. These payments could lower the total need-based financial aid previously awarded to a student. The Student Financial Aid Office will review each payment to determine if a student’s financial aid will be affected and will notify the student about any adjustments that need to be made. Exception: Foreign national students are ineligible to receive student financial aid from the UI Office of Student Financial Aid, and payments to foreign national students may be subject to tax withholding. Therefore, all awards, prizes, and other similar forms of payment to a foreign national student must be processed on an E-Voucher Services Voucher.
Salaries paid for Graduate Assistant work will continue to be processed through the HR Transaction System, and paid through University Payroll.
To obtain access to MAUI Scholarship Workflow, contact email@example.com.
Services Vouchers initiated through the E-Voucher system will be monitored by Accounts Payable to ensure that they are not used to process these types of payments to students. As a reminder, payments to individuals who are not students and not employees should continue to be processed on an E-Voucher Services Voucher.
*Awards, Prizes and Other Similar Forms of Payment would not include compensation for services rendered, refunds, or research subject payments.