In general, a student’s Cost of Attendance (COA) reflects the maximum amount of aid a student can receive, depending on the type of aid offered. In addition to the COA, financial need reflects the maximum amount of need-based aid a student can receive. Need-based aid includes all “free-money” including scholarships and grants and also the Federal Direct Subsidized Loan. Financial need is calculated by subtracting the student’s Expected Family Contributed (EFC) as determined by FAFSA from the COA.
Therefore, if a student is offered more aid than the estimated COA or more need-based aid than a student can receive, an overaward results and the university must resolve by either canceling or reducing the aid for which the student is no longer eligible. For more information including student examples, please visit overaward policy page.