Revision of Aid Awards

The Office of Student Financial Services reserves the right to revise your aid awards according to federal, state, and institutional policies and regulations. Your awards may be revised when there are changes in your originally reported information and/or when you receive additional outside aid awards (i.e. outside scholarships, tuition remission, and/or pre-paid tuition plans).

You must notify us of outside awards by sending us the Outside Scholarship Report. (See Downloadable Forms.) We try to honor requests by the donors, if possible. Generally, outside aid will be treated as follows:

• It will be used to replace any unmet need in your package. Unmet need is the difference between your Estimated Family Cost to Attend Ithaca and our institutional Expected Family Contribution (EFC).
• If the outside aid exceeds your unmet need, we will replace need-based loan sources (i.e., Perkins Loan and/or subsidized Stafford Loan programs).
• If there is outside aid left over, the remaining amount will replace existing Ithaca College need-based grants/scholarships, rounded up to the nearest $50 increment.

Many families will use estimated income information to complete applications for financial aid. This is appropriate since the deadline dates for filing for financial aid are earlier than when tax returns are completed. We will compare your federal tax returns to your FAFSA information. It is possible that your award eligibility will change after this comparison. This review process does not begin until May 15th and continues throughout the academic year. Should your eligibility change due to our review we will send you a revised award letter.