“If there was no room in your budget to reduce work study or loan eligibility, then we would replace the money from a loan with the award money,” she said. “Students who borrow all they are eligible for and use all of it may feel a little bit of an impact.”

Wahl said that students have a set dollar amount in their potential financial aid budget that includes tuition, room and board, and other expenses. The U.S. Department of Education requires that all awards and scholarships count toward that budget. Therefore, if a student receives an award on Honors Day, that must replace something else in the cost of attendance because the budget cannot exceed the previously-determined amount.

She said that this would be a rare occurrence. Hamline followed this policy last year after learning about it at a federal financial aid rules conference. No students were affected. Sophomore Taylor Seeman didn’t notice the change when she received her award last year.

“I just got a check,” she said. “I think I had to pick it up later, at the cashier’s office.”

Only when students are without room in their budgets because they have borrowed and used all they are eligible for based upon the cost of attendance, do things start to get technical.

Wahl said that Hamline tries to replace the aid in a way that would be most beneficial to studentsčusually through re-adjusting work study or loan eligibility left unused. She added that this amounts to “making the numbers fit,” and that most students would be able to pick up their checks and not notice a difference. Wahl said that removing money from work study granted by financial aid wouldn’t affect students’ pay because the university will continue to pay their salaries by picking up the tab through university payroll.

Wahl said that even though those students wouldn’t be receiving their awards in checks, the awards would still be beneficial because they replace loaned dollars that would have accrued interest.

Honors Day is an annual celebration of students’ scholastic accomplishments, and many students win small amounts of money through awards or scholarships. Wahl said that most of the awards are in the $100 range. Honors Day will be held on May 3. Students with questions about the policy may contact the department of financial aid at x3000.