Student Financial Assistance includes scholarships, grants and fellowships awarded to students without requiring work or service, and work-related programs. Amounts for the Federal Work Study Program and Supplemental Education Opportunity Grants are federal matching funds and are included with Sponsored Programs. Related University portions are reported in the various budgets where the expenditures are incurred. Tuition waivers and the undergraduate scholars program are also excluded from Student Financial Assistance.
Funds received in support of Student Financial Assistance are administered in a manner consistent with Federal, State and University policies and procedures. Budget & Resource Analysis, University Controller's Office and University Enrollment Services are responsible for administering the budget for Financial Aid, with the primary policy responsibility being that of the Office of Financial Aid and the Provost.
A biennial budget plan for Financial Assistance is incorporated into the Consolidated Budget Plan. An annual budget plan documenting allocations to specific financial aid programs will be developed by the Office of Financial Aid and recommended by the Provost. The Financial Assistance budget will require the approval of the Vice President who may delegate authority to the senior executive officer. Changes over $500,000 or more require the approval of the President upon the joint recommendation of the vice presidents.
Budget allocations for Financial Aid programs are subject to allotment restrictions imposed by the State an to the financial aid policies of the Federal Department (Education and Health and Human Services), State, and other related agencies or sponsors.