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Scholarship Award Funding

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Policy

The Student Financial Assistance Scholarship Office is committed to awarding ASU departmental scholarships in a timely manner. 

In accordance to FIN 203, spending should be managed so that accounts do not go into deficit status. Please note that scholarship awards will not disburse to students until corresponding funds have already been transferred to the appropriate scholarship account (see below for differences regarding sponsored accounts).

Procedures

Scholarships funded from:

  1. Endowments/Annual Gifts
    1. Enter your awards into the Distributed Scholarship Posting (DSP) in OASIS.
    2. Log in to IFAS and complete an ASU Scholarship Disbursement Request (for further instructions, please see the online DSP manual).
  2. Departmental Local Account
    1. Enter your awards into the Distributed Scholarship Posting in OASIS.
    2. E-mail ScholarshipTransferRequest@mainex1.asu.edu in Financial Services to request a transfer of funds from your department's local account to the appropriate Item Type. Financial Services will need the following information in order to process the transfer:
      1. Departmental Local Account to transfer funds from
      2. Item Type to transfer funds to
      3. Amount of funds to be transferred
  3. Sponsored Account
    1. Enter your awards into the Distributed Scholarship Posting in OASIS.
    2. E-mail ScholarshipTransferRequest@mainex1.asu.edu in Financial Services, and provide the following information:
      1. Sponsored Account where expenses will be transferred to
      2. Item type involved in the transfer
      3. Amount of expenses to be transferred
    3. Financial Services will verify that adequate funding is available in the sponsored account.
    4. Financial Services will transfer the scholarship expenses from the scholarship account to the sponsored account.
    5. Note that this process is slightly different because direct transfers of funds are not allowable from sponsored accounts to local accounts. Therefore, the scholarship expense must post to the scholarship account first and then be transferred to the sponsored account.