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SCHOLARSHIPS, GRANTS-IN-AID AND STUDENT LOANS

Assignment of scholarships, grants-in-aid, or student loans shall be controlled by the faculty through the regularly constituted committee on student loans and scholarships.
Any financial aid or assistance to prospective students, in money or in kind, except from members of the student's immediate family or from those upon whom the student is legally dependent, shall be administered by the institution under the policies and procedures established by the institution through the regularly constituted committee on student loans and scholarships.

A member institution of the NAIA shall award no more institutionally-controlled financial aid to a student-athlete than the actual cost of: 1) tuition; 2) mandatory fees, books and supplies required for courses in which the student-athlete is enrolled; 3) board and room for the student-athlete only, based on the official board and room allowance listed in the institution's catalog. Further financial assistance to a student-athlete, other than listed above, by a member institution shall be prohibited.