<p>I've applied to a couple of scholarships, but I'm wondering how much it will actually help me. From what I can see, it actually won't be that much because the scholarship your school gives you will be reduced. I'm applying to some Ivys and they all seem to have similar policies. Can anybody give me info on that? Also, are the estimates for the EFC that they send you in the SAR report close to the actual values? Because if they are then I'm in trouble....</p>
<p>Depends on the school.</p>
<p>If you're not eligible for need-based aid, then by all means focus on the merit scholarships. It's your only shot at getting aid.</p>
<p>But-- if you're likely to get need-based aid, be aware that most colleges will reduce your aid package by the amount of the merit scholarship you've obtained. Sounds unfair, but that's how it works.</p>
<p>It can still be to your advantage, though. Some will reduce the loans in your financial aid package (a good thing), while others will reduce the grant portion of the aid offer (a bad thing). Depends on the school.</p>
<p>The EFC on the SAR is the number the colleges will be working with, if they only accept the FAFSA. Profile colleges come up with a different number, and often have their own forms to supplement the Profile-- so the number may be quite different than the EFC on the FAFSA (main difference is home equity, which isn't considered by FAFSA only schools).</p>
<p>Then-- many schools don't meet 100% of need, so more $$ must come out of the family pocket on top of the EFC. You can go to College Board and find out what % of need each school meets, on average.</p>
<p>THEN-- remember that a portion of the aid package is loans, or work study, typically. So yeah, you may be in trouble. :)</p>
<p>When my dad hires people he looks at grades and scholarships first. The school name helps a little but the scholarship no matter when you won it, is a hook. Even if the money is not much the scholarship still shows you have completed something. </p>
<p>Anyway thats what he says and thats why he is on me big time and making me apply for everything I can. Hope this helps</p>
<p>stevie, what does your father do?</p>
<p>jason I sent you a pvt message</p>