Scholarship Awarding Processes. Goals: 1.Notify students of institutional and federal aid earlier 2.Reduce overawards.

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Presentation transcript:

Scholarship Awarding Processes

Goals: 1.Notify students of institutional and federal aid earlier 2.Reduce overawards

What is an overaward? For students who have received a Stafford Loan, ACG or SMART Grant, total student aid cannot exceed the Cost of Attendance. ▫If it does, an overaward will occur. Federal regulation requires that overawards be resolved by reducing student aid.

Cost of Attendance: Tuition and Fees Room and Board Books and Supplies Personal Expenses Transportation

Cost of Attendance Limits:

Overaward excess:

Department/College Deadlines 15 May 2010 ▫Award all Fall and Winter awards 1 November 2010 ▫Awards for Winter Semester admits 1 March 2011 ▫Award all spring and summer awards  Note: In mid-March we will provide you with our list of awards so you can plan ahead.

Student Deadlines 1 February 2010 ▫University Scholarship Applications due for Fall/Winter and Spring/Summer consideration. 1 October 2010 ▫University Scholarship Application due for students applying for admission to Winter 2011.

Exceptions: 1.Unexpected extenuating financial circumstances 2.Re-awarding unclaimed funds 3.Some Study Abroad programs/Some internships 4.Graduate students who applied for admission after the deadline and were admitted after the deadline.

Scholarship Codes: 5-digit scholarship codes are required Perfect your code list Pass-through accounts

New department processing system: Ad Hoc and Upload capability Will turn off on May 15 for all but winter admits Training in mid-March