A lot of schools reduce your scholarship or aid due to outside scholarships. I heard that on GT. GT Stamps is a full ride, and if you get additional scholarship, GT will give you less accordingly. It does seem to me the same case in UCF, from what you wrote @FrozenMaineMom
I have a friend whose son won $20k scholarship each year, but their Columbia’s FA was $20k and that $20k was sent to the school. Therefore the impact of the scholarship is that Columbia didn’t need to provide FA to him. Their family still need to pay $55k a year. He would have sit out and have some other kids win that instead.
As @Reebtoor said, a lot of scholarships especially with higher dollar amounts are going to school directly. D had one $500 scholarship was paid directly to her, but all others, including Carson and NMS are all going directly to the school.