Does stipend affect scholarships?

Paying for College
1

<p>As part of a national merit award from a school I am looking at, I am offered a $4000 stipend. I am also looking at outside scholarships, which could cover tuition, room and board, books, etc- any educational expense, basically. Would being awarded a $4000 stipend affect how much I could get from an outside scholarship? Like, if I had a total $5000 cost of attendance, after school scholarships and stuff not including stipend, could I use an outside scholarship for $5000? Or would the $4000 stipend mean I could only get $1000 from an outside scholarship?</p>

<p>(These are of course hypothetical numbers. I understand that the answer may depend on the school, but if anybody knows anything, please respond)</p>

2

<p>Many colleges will reduce your need based financial aid if you receive outside scholarships. That makes sense, as the scholarship money reduces your need. The $4K stipend is a merit scholarship, not based on need, so it should not be reduced. But the best way to find out is to ask the school’s financial aid office.</p>

<p>Any money that you receive in stipends and grants that are in excess of your tuition and book costs will be taxable income.</p>

3

<p>Yeah, I figured I would have to contact them directly to know for sure. Thanks for the help!</p>