<p>Hello I am a senior looking to apply for scholarships, but my household income is low enough for me to get significant aid and the schools I'm applying to all have generous fin. aid packages.</p>
<p>I was wondering if applying for scholarships would take away money that I receive from financial aid. I am a bit unfamiliar with how this works so I would appreciate any insight.</p>
<p>Thanks!</p>
<p>It varies by school. A number of the “generous” colleges apply outside scholarships towards the student contribution (work on campus) or summer work contribution others apply it to any loans that are in the package. If the school does not meet need they may apply it towards the gap. One school I am familiar with “splits” the outside scholarship between the student and the school. Here is one place to look</p>
<p>[Project</a> on Student Debt: Financial Aid Pledges](<a href=“http://projectonstudentdebt.org/pc_institution.php]Project”>http://projectonstudentdebt.org/pc_institution.php)</p>
<p>If your schools are on this list they will explain how they apply the o/s scholarships. You should also look on each schools website or call and ask.</p>
<p>Schools will not award need-based aid in excess of your financial need (cost of attendance less EFC and any other financial aid given). So, outside scholarships can, and often do, reduce some other aid component. But many schools will first reduce loans and/or work-study grants, often giving the student a choice of which one should go first…that’s a question you should pose to your prospective schools.</p>
<p>but my household income is low enough for me to get significant aid and the schools I’m applying to all have generous fin. aid packages.</p>
<p>Do ALL of your schools meet 100% of determined need? With or without loans and/or work study? </p>
<p>If a school (that meets 100% of need) puts loans or work-study in their FA packages then a scholarship can replace that. </p>
<p>However, check to see if your schools meet 100% of need …or if they just have a rep for giving good aid. Big difference.</p>
<p>BTW…if all of the schools that you’re applying to meet 100% of need, then that <em>might</em> mean that you don’t have a safety school. Most schools that meet 100% of need aren’t safety schools.</p>