What is effective date for financial aid in SAP IS-HER-CM - Student Lifecycle Management?

SAP Term: effective date for financial aid

• Component: IS-HER-CM

• Component Name: Student Lifecycle Management

• Description: First calendar day of the assistance.

Smart SAP Assistant

• Key Concepts: 
  The effective date for financial aid in SAP IS-HER-CM Student Lifecycle Management is the date when the financial aid is applied to a student’s account. This date is used to determine when the student will receive the funds and when the funds will be applied to their tuition and fees. 
  
  How to use it: 
  The effective date for financial aid can be set in SAP IS-HER-CM Student Lifecycle Management by navigating to the Financial Aid tab and selecting the “Set Effective Date” option. This will open a window where you can enter the desired effective date for the financial aid. Once you have entered the date, click “Save” to apply it to the student’s account. 
  
  Tips & Tricks: 
  It is important to note that the effective date for financial aid must be set before the student’s tuition and fees are due. If the effective date is set after the due date, then the student may not receive their funds in time and may be subject to late fees or other penalties. 
  
  Related Information: 
  For more information on setting an effective date for financial aid in SAP IS-HER-CM Student Lifecycle Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/IS_HER_CM/latest/en-US/f8d7f9a2b3e14c8a9f3d7c6b2f5e4d1a.html