financial aid based on percentage or per hour

We do our financial aid on an percentage hourly rate. For example, if a student receives 50% financial aid and they're taking 9 credit hours (at $475/hour), their award would be $2138 for that term. Each student who receives hourly financial aid has two different percentage options: a full time or a part time. The part time award percentage is half of the full time award percentage. Currently I am having to manually do the math and then apply the award to each student.
1. Could an award, instead of being offered only as a net amount, be offered as a percentage?
2. Or could we create some type of per-hourly based award. In which, I could input the hourly amount and the number of hours, and it would do the math and add the award to the student's account.


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