How Scholarships Affect Your Financial Aid Award

Scholarships are among the most coveted financial aid awards. They are considered gift-aid and do not have to be repaid. If you receive a scholarship, some of your other aid, such as federal work-study or loans, may have to be reduced.  According to federal guidelines and university policy, the total annual amount of a student’s financial aid award cannot exceed the cost of attendance for the student’s degree program, or the student’s financial need, based on the student’s expected family contribution. 

If you have already been awarded up to the cost of attendance when you receive a new scholarship award, the Office of Student Financial Assistance will reduce your least favorable source of funding, such as a loan which needs to be repaid with interest. This reduction will make room in your budget for the more favorable scholarship award.