New product type needed to manage fund awarded to client which is not a loan type and any such fund paid to client or paid to some other client entity on behalf of client is generally non payable back provided client and client entity both meets eligibility criteria and other applicable conditions and requirements.
Use Case Scenario:
Student(Client Legal Form = Person) and School(Client Legal Form = Entity) at which student studying are both examples of client records.
Financial aid generally come from federal, state, school, and other private sources to help student to pay for higher education. In some cases, fund is awarded to a student but paid to student’s school who is responsible to verify applicable conditions, requirements, documentations and apply fund to respective student account.