Bursary bands, Fees and Equity

Bursary Bands, House & Assets Equity Bands Configuration

In order for your Bursary Summary to work on the student profile for the next year, you need to configure the bands in the new year you are preparing. 

You can do this by editing the bands in the bursary bands table and the equity bands tables or you can delete all the bands in the tables of the new year and clone the current bands that the school had set up the previous year. 

To edit the bands you need to go to Settings - Bursary - Bursary & Fees or house/Assets Equity: 

Fees and Bands

School Fees:

Each fee in the table has four settings - the name of the place type, the application year, the year groups that this fee applies to, and the monetary cost.

Note: Once you have entered a prefix code, try to avoid changing it.

Bursary Bands:

Your fees above are the basis for the 100% starting point.

The bands have four settings - the title of the bursary, the % that it grants the family off the fee amount, the application year it applies to, and the resource bracket that families will need to fall into in order to qualify.

Child Allowance Bands:

Many schools choose to have an allowance for when there are dependent children in the household. For this example, for every child in the household, we reduce the total resource by £5000.

House Equity Bands: (applies to the family's residential home only)

For each of these bands, a percentage will be taken that will count as an asset and be used towards the total resource value.

For example, any residential home with over £350,000 in equity, will have 8% (£24,000) of that put towards the resource.

Asset Equity Table:

For each of these bands, a percentage will be taken that will count as an asset and be used towards the total resource value.

This table applies to all assets entered within these categories: bank account value, stocks & shares, other properties, other assets, business net value (-liabilities).

Deleting & Cloning

You will need to select the year that you want to change the bands for and click on "Destroy" for each band. This will include the Bursary Bands table "Bursaries":

School Fees:

Child Allowance Bands:

House Equity Bands: You will need to go to the House/Assets Equity tab and select the year you want to edit - 

Asset Equity Table:

You will then be able to go back to the year that you want to clone the details from and click on the long blue button "Clone Bursary Fee..":

A pop up will appear and you need to select the year you are cloning to and click "Clone":

The clone will have copied across the bands that you had set up for the previous year (or the year you were cloning from). 

We also recommend that you review your application form questions to ensure the wording is correct for the next cycle. This can include the correct financial year for the parents to base their information on. Such as the "Income" step:

To edit this you need to go to Settings - Application Form - Phase Bursary Form Step 4: Income - Edit the first question:

Then click "Save". 

However, we do highly recommend reviewing all questions on your application form to ensure that nothing is missed and you will be informing your parents correctly.