Definitions for "Overaward"
Generally, any amount of campus-based aid or Federal Family Education Loan that exceeds the student's financial need or Cost of Attendance ( PELL Grant is always the first award when adding up sources of funds in determining an over-awarded, and is awarded based upon cost of attendance and need, and hence is never the reason for an overaward).
an amount that exceeds your financial need
Occurs when a student receives financial assistance in excess of demonstrated need, requiring a reduction or repayment of some aid funds.