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  7. Policy and Procedure for Packaging External Assistance

Policy and Procedure for Packaging External Assistance

Consistent with Title IV regulations, in cases where federal aid recipients receive additional assistance from sources outside of the university after an initial award has been made, the external aid will be packaged in the following manner:

  1. When an unmet need exists, the outside assistance will be used to fill the gap.
  2. If the gap is filled (or no gap exists) the remaining external aid will result in a reduction of the Federal Direct Stafford Loan or a shift from a subsidized to an unsubsidized loan.
  3. When no gap or Federal Direct Stafford exists, then reductions will be made to the following programs in the order listed: Federal Perkins Loan, Federal College Work Study, or Federal SEOG/Pell Grant.
  4. If the scholarship or stipend is reported on an IRS 1099 or W-2, it will be considered taxable income and not a resource against other assistance.
  5. If a "scholarship" has a repayment or employment obligation, it will be considered a replacement of expected family contribution.

Policies and Procedures