<p>Hi Guys. Let me thank you all in advance for your responses. Here is my fin-aid question.</p>
<p>Let us say, attending the college costs me 50K per year. If I run that specific college(Eg: Brown/Duke) EFC calculator, it shows as $30K as my EFC. Meaning Brown/Duke pays me $20K free money per year.</p>
<p>During the freshmen year, let us say I get $9K worth of below(or any other) scholarships
- PSAT/NMSF scholarship $2K
- My parent's company scholarship based on my SAT score: $3K
- Other scholarship that I won by writing essays: $4K</p>
<p>In this case, does Brown/Duke would still pay me $20K free money or only $11K? How do colleges look at my other scholarship money. Do they ignore or subtract that $9K from their/my free money.</p>
<p>Actually, unless your family’s income meets the criteria where you will get a non-loan financial aid package, there is no"free money" per year.</p>
<p>But on to your question:</p>
<p>Should you receive 19k in outside scholarships, what Duke/Brown will do is </p>
<p>1 - reduce the self help portion of your financial aid (work study, loans, possibly student contribution).</p>
<ol>
<li> After your outside scholarships have replaced the self help portion of your FA, then they would reduce their institutional aid because the scholarships are reducing your need.</li>
</ol>
<p>oh ok. thanks for the clarification. Here is my #s </p>
<p>E-COA: 58K
E-Grant: 20K
E-Student loan: 5K
E-Student Work: 3K</p>
<p>So after my 9K outside scholarship, my #s would like below. Is that correct?
E-COA: 58K
E-Grant: 19K
E-Student loan: 0 K
E-Student Work: 0 K</p>
<p>Great. Many thanks. Much appreciated.</p>