Students may receive Title IV funds only to the extent they show financial need. Total resources, regardless of the source, generally must not exceed a Title IV recipient&r...

Students may receive Title IV funds only to the extent they show financial need. Total resources, regardless of the source, generally must not exceed a Title IV recipient’s demonstrated need (i.e., the difference between cost of attendance and the student aid index). Thus, the school may not overaward the student when packaging Title IV aid. Need for the Pell Grant Program is determined independently, and the student’s Pell Grant award is not reduced due to other resources. However, awards under the campus-based programs and, with certain exceptions, the Direct Loan Program, must be adjusted in accordance with specific regulations and procedures in order to avoid overpaying the student, even if the student receives additional unanticipated resources after packaging is completed.

Related terms: Cost of Attendance; Student Aid Index (SAI); Need Analysis; Packaging; Student Eligibility; Verification

Students may receive Title IV funds only to the extent they show financial need. Total resources, regardless of the source, generally must not exceed a Title IV recipient’s demonstrated need (i.e., the difference between cost of attendance and the student aid index). Thus, the school may not overaward the student when packaging Title IV aid. Need for the Pell Grant Program is determined independently, and the student’s Pell Grant award is not reduced due to other resources. However, awards under the campus-based programs and, with certain exceptions, the Direct Loan Program, must be adjusted in accordance with specific regulations and procedures in order to avoid overpaying the student, even if the student receives additional unanticipated resources after packaging is completed.

Related terms: Cost of Attendance; Student Aid Index (SAI); Need Analysis; Packaging; Student Eligibility; Verification

Web URL 668.16(b)(1)

See top list entry for Student Eligibility

See also top list entry for Verification, subtopic Interim disbursements

Web URL 668.58(b)
Web URL 668.60
Web URL 673.5(f)
Web URL 685.300(b)(8)
Web URL 686.34
Web URL 690.79(a)
PDF Federal Register, 1/24/24, pp. 4554 to 4555
Web URL 2024-25 FSA Handbook, Vol. 4, Ch. 3, April 2024

See top list entry for Packaging

Browse by Term