La Salle Univ. Grant-Scholarship
Overaward Policy for 2006-2007
La Salle University reserves the right to reduce University need
or non-need based funding in the event an "overaward"
occurs due to a change in a student's enrollment, housing, or
financial situation or if additional outside funding is made available
to a student. There are four types of overawards:
1.The first type of institutional overaward is when the total of all grants and scholarships exceeds the student's direct costs for tution, room, board and fees.If the total of a student's grants and schoalrships exceed the direct costs, then La Salle University reserves the right to reduce institutional funding either need based or merit. All outside grants and scholarships will be applied first to University charges. University grants and scholarships will then be applied to subsequent University charges. The one exception to this policy is athletic aid as the NCAA regulations take precedent.
2. The second type of overaward situation is when a student receives
more funding than the student's federally calculated need allows.
Federal and Institutional policy prohibit a student from receiving
aid in excess of need and require the school to resolve the overaward.
If a student has already been awarded need-based aid and subsequently
receives additional funding such as a private scholarship, then
no other aid will be reduced as long as the total of the financial
aid does not exceed need.
If a student is awarded additional aid, which causes the total
of all aid to exceed the federally calculated need, then there
must be a reduction in the financial aid. To resolve this overaward,
financial aid will be reduced in following order: Perkins Loan,
College Work-Study, SEOG, La Salle Grant and Stafford Loan.
3. The following exception applies to the above the policies.
If a student has been awarded one or more La Salle University
Merit Scholarships and then is subsequently awarded a half tuition
or greater scholarship, then student becomes ineligible for those
La Salle University Merit Scholarships.
4. The total amount of all financial aid for a student cannot
exceed that student's financial aid cost of attendance. Here financial
aid includes PLUS loans and Alternative loans such as Signature
loans.
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