The combination of Graduate students' loans, work-study, fellowships, fee remissions, and health insurance awards cannot exceed the "Budget" listed on their Financial Aid Award Letter (FAAL).
In other words, if a Graduate student has received a FAAL containing loans and then receives a fellowship from their department, their loan eligibility will be reduced to accommodate the fellowship. If the student has already taken out their loans, they may be billed for a portion or all of the loan funds already disbursed to their BARC account.
Information about additional financial assistance for Graduate students—including fellowships, fee remissions, and heath insurance awards—is reported to our office periodically throughout the academic year. Thus, in many cases an award may not be reported to our office until late in the academic year. Graduate students should review their FAAL for any types of assistance that have not been reported and then plan for changes in Financial Aid that may occur throughout the academic year.