<p>Does anyone know CMC's policy on outside scholarships? It is a little cryptic on their site, says it will take away from self help portion; but does self help include the parent's EFC?</p>
<p>For admitted students, how do you feel about your FA? Ours was pretty good; it's going to be steep for sure but the no loans things is great; leaves you with more options.</p>
<p>Because every situation is so different, your best approach would probably be to call the FA Office at CMC and ask them directly. There is so much misinformation posted by well-meaning folks on this site that I would not rely at all on any financial aid policy information gleaned from College Confidential.</p>
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Does anyone know CMC's policy on outside scholarships? It is a little cryptic on their site, says it will take away from self help portion; but does self help include the parent's EFC?
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<p>In general terms, outside scholarships will not reduce the parental contributions, unless outside scholarships eliminate the need-based aid entirely. When there were loans at CMC, outside scholarships could be used to eliminate said loans, the work-study funding, and the summer earning expectations. The Fafsa EFC could not be reduced.</p>
<p>This said, the Questbridge package for CMC gives this additional detail:</p>
<p>Outside Scholarships
Outside scholarships can be applied to the the work-study requirement. Scholarships in excess of $1,350 will be used to reduce the Claremont McKenna grant. Students may also choose to replace the work-study contribution with a loan.</p>
<p>So, it seems that CMC might still require the Student Summer Work Contribution $1,650. The expected student summer work contribution will increase every year, as follows: Second year: $1850;Third year: $2050;
Fourth year: $2250.</p>
<p>I did hear from CMC; outside scholarships can not be used to reduce EFC; they can reduce works study. I am both relieved and disappointed: relieved not to have to nag by daughter to write more essays but disappointed I can not reduce our $$ outlay. Think it would be in the best interests of colleges to at least split these funds 1/2 way with the parents; that would be a win win. As it stands, it is a complete disincentive to search and apply.
That said, I am OK with CMC's FA and VERY happy with no loans!</p>
<p>i'm currently a freshman at cmc, and i couldn't be happier with their financial aid program. cost should not be a deterrent for anyone at this school; i literally know no one at school who is displeased with their aid package.</p>