Simmons University follows federal regulations when awarding and adjusting financial aid packages. When a student receives an outside scholarship, they are first used to meet any unmet need the student has. Unmet need is determined by subtracting the expected family contribution (EFC) and all need based aid from the cost of attendance. If there is no unmet need, need based self-help funds (subsidized loans and work-study) are reduced/replaced as necessary to avoid an over-award situation. If all need-based self-help funds are replaced, need-based grant will be reduced/replaced to avoid an over-award situation. The combination of outside funding and other non-need-based funding cannot exceed the total cost of attendance.
- I understand that accepting Outside Scholarships may impact my current need based financial aid. - I understand that I am responsible for anything that the organization requires in order to receive funding. (ex. requesting transcripts, requesting enrollment verification) -I will immediately notify SFS in writing if any information on this form changes and understand the change may impact my aid. -I understand that my scholarship(s) will be added to my bill as pending aid (reducing my amount due) until the scholarship is received by Simmons University. - I understand that if a scholarship has not been received, it will be removed as pending aid prior to bills going out for the next semester.