Overawards
If you have an Aid Adjustment Hold on your account, this may mean you have an overaward. An overaward usually prevents your aid from disbursing until it’s resolved.
An overaward occurs when:
Your total need-based offer (or scholarships) is more than your calculated financial need. This is called a need-based overaward.
Your total financial aid offer (or scholarships) exceeds your estimated cost of attendance. This is called a cost of attendance overaward.
You may have one or both types of overawards. To resolve an overaward, ASU must adjust your scholarships according to federal regulations. This might mean reducing or canceling some of your aid, which could lead to a bill on your account if your aid has already been disbursed. The processing time varies, but during peak times, please expect to wait up to four weeks for an overaward to be resolved.
Possible reasons an overaward can occur:
- You make changes in your enrollment that affect your cost of attendance.
- The verification process results in changes made to your FAFSA data.
- You receive additional scholarships.
- Your residency status changes. Your housing status changes.
COA — $36,000
SAI — $4,000
Eligibility for need-based aid — $36,000 - $4,000 = $32,000
Total need-based aid offer — $33,500
Amount of need-based overaward — $1,500
This student has a need-based overaward because the student’s need-based aid offer exceeds their eligibility for need-based aid by $1,500.
Cost of attendance — $36,000
Total aid — $38,000
Amount of cost of attendance overaward — $2,000
This student has a cost of attendance overaward because their total aid is greater than their cost of attendance by $2,000.