Private Scholarships and Outside Resources Policy
Students are required to report the receipt of an outside scholarship, grant, loan, or other educational aid resource to the Office of Student Financial Aid. Examples of outside aid resources include a private or civic organization scholarship/grant, tuition benefits from students or parent’s employer, Veteran’s Administration Educational Benefits, state agency payments, and private student loans for education.
The receipt of an outside aid resource, which was not known at the time the student’s Financial Aid Offer was prepared, may require a reevaluation of the Financial Aid Offer and an adjustment to awards.
For federal and state financial aid programs, Alfred University follows current regulations and guidance in effect with regard to coordinating other financial aid resources with federal and state funds.
For University funded need-based aid awarded by the University, the following procedures are implemented.
Outside Gift/Grant Aid Resources:
For the first $5,000 of outside aid, no adjustment will be made to the Financial Aid Offer provided the additional funds do not create a conflict with federal and state requirements. For every two dollars of outside aid exceeding $5,000, Alfred University need-based grant will be reduced by one dollar.
The private scholarship and outside aid resource policy is implemented by establishing the student’s aid eligibility without the outside aid resources, then applying the policy to the Financial Aid Offer.