Financial Aid Awards

After evaluating student and family resources and assistance from outside the University, the Office of Student Financial Aid will award federal, state, and institutional funds (as appropriate) to students with demonstrated financial need. In varying quantities, a financial aid award may include grants, loans, and student employment. In order to distribute the available funds in the most equitable manner, the Office of Student Financial Aid establishes a formula that designates the sequence in which funds are awarded to students and the maximum amount awarded under each program. The formula provides for a specific amount of loans and employment before students are considered for grants. These formulas are applied consistently during any given year among all students at a given class level and in a given college (pending availability of funds). Due to differences in the availability of funds from year to year and changes in eligibility requirements, the formulas are adjusted annually.