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 expected family contribution). 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 topics in this Index: Cost of Attendance; Expected Family Contribution; Need Analysis; Packaging; Student Eligibility; Verification
Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.
The Compliance Engine is comprised of two modules: the Self-Evaluation Checklists which allows administrators to evaluate their programs in a centralized, shared online space, and the P&P Builder, a tool designed to assist institutions in the creation and maintenance of a policies and procedures manual. Along with an online space to update and maintain policies and procedures, the P&P Builder includes legislation and regulation associated with compliance with Title IV requirements.
See also Overaward tolerances
See top list entry for Student Eligibility
See top list entry for Packaging