Yes, that’s quite possible. It’s a tad more than they had budgeted as recently as April (although the FA was very generous under the prior policy also):
“In April, the University planned for an 8% increase in the financial aid budget to $306 million for the 2025-26 academic year. With the new policy, the University is projected to spend $327 million on financial aid, an approximately 15.5% increase.”
From: