Military Educational Benefits Institutional Aid Policy
How Aid is Determined for Students Receiving Military Benefits
I. Definitions
- Direct Costs: Educational costs such as tuition, fees, housing and food that are billed directly to students.
- Gift Aid: Financial assistance such as scholarships and grants that students receive. These are funds that do not need to be repaid.
- Institutional Aid: Financial assistance provided to students directly from ¶¶Òõ¶ÌÊÓƵ University.
- Title IV Funds: Financial assistance provided to students directly from the U.S. Department of Education. Title IV Funds include the Federal Pell Grants, Federal Supplement Equal Opportunity Grants (FSEOG), and Federal Direct Student Loans.
- Total Financial Assistance: The total amount of financial aid awarded to students which includes all forms of financial assistance including scholarships, grants, loans, and work-study.
II. Determining Institutional Aid for Students Receiving Military Education Benefits
¶¶Òõ¶ÌÊÓƵ University will use Veterans Benefits from the U.S. Department of Defense as estimated financial assistance (EFA) when determining the amount of Institutional Aid to be awarded to students. Per the , Title IV Funds are excluded from EFA. Likewise, ¶¶Òõ¶ÌÊÓƵ University will exclude Title IV Funds when determining Institutional Aid.
¶¶Òõ¶ÌÊÓƵ University will include all other Gift Aid when determining Institutional Aid for veterans, which includes state, local, and private funds. The amount of Institutional Aid to be awarded will be limited to Direct Costs. Direct Costs include tuition, required course fees, housing, and food costs. ¶¶Òõ¶ÌÊÓƵ University seeks to maximize financial aid opportunities for all students. Thus, in cases where a student's Total Financial Assistance exceed Direct Costs, ¶¶Òõ¶ÌÊÓƵ University will reduce other forms of Institutional Aid.
III. Example
Direct Costs – Veterans Benefits – other Gift Aid (excluding Title IV Funds) = Eligible Institutional Aid Amount
A student has Direct Costs of $10,000. The student has Veterans Benefits of $5,000, a State Grant of $500, and a Federal Grant of $1,000. To determine the amount of Institutional Aid, subtract the Veterans Benefits amount and all gift aid excluding the Federal Grant of $1,000 (Title IV Fund) from the student’s Direct Costs.
| Direct Costs | $10,000 |
| Financial Aid | |
| Veterans Benefits | -$5,000 |
| State Grant | -$500 |
| Eligible Institutional Aid Amount* | $4,500 |
*The eligible Institutional Aid amount may not exceed the total amount offered to students upon admission to ¶¶Òõ¶ÌÊÓƵ University.
In this case, the student would get the full amount of the Federal Grant of $1,000 as a refund.
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