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 Student Aid Index (SAI) - capped at $0 - 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.