If the sum of all financial aid, including a Tennessee HOPE scholarship, a Tennessee HOPE access grant, a general assembly merit scholarship, an ASPIRE award, under § 49-4-915 or a Wilder-Naifeh technical skills grant, for which a student qualifies exceeds the institutionally defined total cost of education at the eligible postsecondary institution the scholarship or grant recipient is attending, then the student’s financial assistance provided shall be reduced so that the financial aid actually received by the student does not exceed the institutionally defined total cost of education.