An “overaward” is when the need-based awards exceed financial need, or the total of financial aid awards exceeds the cost of attendance. If a student has been overawarded, federal regulations require us to adjust awards which may result in a bill. Need-based aid includes grants, scholarships, Federal Work Study, Federal Perkins Loans, Federal Direct Subsidized Loans, and outside resources (i.e. faculty/staff tuition benefits, scholarships, etc.). Non-need based aid includes Federal Direct Unsubsidized Loans, Federal Parent PLUS Loans, Federal Graduate PLUS Loans, and Alternative Loans.

Possible reasons an overaward can occur are:

  • Additional awards are received after the awarding was done.
  • Housing status changes after the awarding was done.
  • Changes in student’s enrollment after the awarding was done.

If a non-need based overaward occurs (student’s cost of attendance was exceeded), the financial aid department will reduce or cancel federal aid in the following order.

  • Alternative/Private Loan
  • PLUS or Graduate PLUS loan
  • Direct Unsubsidized Loan
  • TEACH Grant
  • Perkins Loan
  • Federal Work Study

The combined amount of aid from all the sources can never exceed graduate student’s Cost of Attendance (COA).

Graduate Financial Aid Quick Links:

Financial Aid Application Process

Required Steps

Financial Aid Self Service

Maintaining Aid

Forms and Publications

Managing Your Money

Scholarships and Grants


Other Sources of Funding


Contact Us:

Financial Aid Office
Elderdice Hall
Hours: M-F 8:30-4:30pm
Phone: 410-857-2233
Fax: 410-386-4608
School Code: 002109