This is the amount of the award disbursed (transferred) to the Business Office prior to adjustments, such as loan processing fees.
The table below details the relation of loan amount, processing fee percentage, gross award amount, and net award amount.
|
Loan Amount |
Processing Fee Percentage |
Gross Award Amount |
Net Award Amount |
|
$1,000 |
1% |
$1,000 |
$990 |
|
$1,000 |
4.5% |
$1,000 |
$955 |