Net cost is defined by the VA as the remaining tuition
balance after the application of any waiver of, or reduction in, tuition and
fees; any scholarship, or other Federal, State, institutional, or
employer-based aid or assistance (excluding loans and Title IV aid) that is
provided directly to the institution and specifically designated for the sole purpose
of defraying tuition and fees.
“Title IV aid” refers to: Unsubsidized Federal Stafford loans, Subsidized Federal Stafford loans, Federal Perkins loans, Federal PLUS (Parent) loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant).
In order for the net cost to be known, all forms of tuition-only funding or financial aid must be applied to a student’s account. These funds are typically applied to student accounts after the week of add/drop.
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