the reasons listed below. Reduction for athletic reasons, missing practices etc, is not an allowed exception. Since COA stipends is part of the financial aid package, VT and Cincy can try to implement fines, but they will run afoul of the NCAA.
They would have to suspend the player in order to comply with the bylaws. That happens all the time under the "violation of team rules" cachet and that's what would have to happen for this to work.


15.3.4.2 Reduction or Cancelation Permitted

Institutional financial aid based in any degree on athletics ability may be reduced or canceled during the period of the award if the recipient: (Revised: 1/11/94, 1/10/95)

(a) Renders himself or herself ineligible for intercollegiate competition;

(b) Fraudulently misrepresents any information on an application, letter of intent or financial aid agreement (see Bylaw 15.3.4.1.1);

(c) Engages in serious misconduct warranting substantial disciplinary penalty (see Bylaw 15.3.4.1.2); or

d) Voluntarily (on his or her own initiative) withdraws from a sport at any time for personal reasons; however, the recipient's financial aid may not be awarded to another student-athlete in the academic term in which the aid was reduced or cancelled. A student-athlete's request for written permission to contact another four-year collegiate institution regarding a possible transfer does not constitute a voluntary withdrawal. (Revised: 1/10/92, 1/11/94, 1/10/95, 1/9/96, 12/13/05, 9/11/07)