The total financial aid a student receives across all sources cannot exceed the stated financial aid budget (or cost of attendance) in a given academic year. This includes, but is not limited to, scholarships and fellowships from CBS, external awards, company/employer assistance (loans, scholarships or sponsorships), certain Veteran benefits, and loans. Additionally, grant aid of any type (Columbia or other funding which does not have to be repaid) cannot exceed qualified tuition and fees as defined by the IRS (tuition and mandatory fees). All external scholarships, sponsorships, and awards must be reported to the CBS Financial Aid office, and could reduce or replace CBS Scholarships or fellowships depending on the amount.