Ability to flag student accounts

What specific challenge or problem does this idea solve?

We have scholarship students, students who pay on different dates than normal tuition posts, students who are on auto pay.... but we can't easily identify those students in our system.

How should this work?

The ability to place a color-coded flag next to a student name would be helpful. It would be great if we could name the flags, but just having different colored flags that show up next to student names would be amazing. Being able to group/sort by flag color would be incredible.

Who will benefit (Admins, Staff, Students)?

This would benefit administrators mostly

How will this change impact your daily tasks or overall experience?

Having the ability to at least see which students are in a group or (ideally) run a report that lists them with that group (not a class) would help with reporting, communication, and just making sure we are giving our families the best experience.