Student Financial Aid Services reviews financial aid awards for students who have financial aid and scholarships in excess of the total cost of attendance. This policy is established to allow students to receive scholarships to pay up to their total cost of education, but not receive more than those required funds so as to make a profit on attending college. Thereby, the policy also allows the institution to provide some of the limited funds to other quality students who may not have the resources necessary to attend college. Following is the approved policy language on UI scholarships as related to the cost of education:
The Financial Aid Office will establish a cost of education for designated categories each year. That cost will consider tuition, fees, books and supplies, room, board, miscellaneous costs and transportation. The amount for each category will be reviewed each year. Students may appeal their cost of education in writing to the office if they gave unusual costs for the defined enrollment term. The same guidelines for adjusting the cost of education will be used for federal, state and institutional funds. University of Idaho scholarship funds will not be awarded to a student over the established cost of education. A default standard budget will be set for students who do not apply for federal financial aid, using the standard undergraduate/graduate and resident/nonresident budgets. If a student has other financial aid and/or resources (excluding veterans Chapter 30 benefits, AmeriCorps, Peace Corps, or like national service programs where benefits are paid after services are performed), the combination of UI scholarships, financial aid, and resources shall not be greater than the cost of education. Funds awarded above the cost of education will be canceled and re-awarded to other deserving students. If federal funds are involved the standard federal tolerance will be allowed. Federal guidelines to reduce funds will be followed for students receiving federal funds.
Student Financial Aid Services also will review student eligibility for non-resident tuition waiver awards as well as cash scholarships. When adjustments to UI scholarships and waivers are made, students are notified of these adjustments and the reason for them.