I was just wondering: will the amount of financial aid that a college has given me be reduced if I have outside scholarships? For example, if I have $14,000 available to me through College, Federal, and State aid and I add a $1,000 scholarship, will I have $15,000 or will the financial aid provided to me by the college be reduced so I still only have $14,000. Also, If I have scholarships that can only be used for tuition and cannot be reimbursed directly to students, will the financial aid from the school be reimbursed to me so I can pay for my off campus housing?
Each school handles this differently. Call the financial aid office and ask.
It depends on the school and how much total aid you have. It the scholarship is limited to tuition, then no, you will not receive it for housing.
My daughter’s school applies all restricted aid first. School aid is not allowed to be paid out to the student, so they apply her merit first to tuition and fees, then her school grants, then her athletic award. She wants to live off campus this year, but had money left over so she’s taking a meal plan and can buy boops throught the book store if she neeD’s touse up some restricted funds. All her ‘extra’ money will be given to her if the terms say that it can be used for housing or expenses, such as bright futures, pell grant, loans, state grants. After tuition, fees, books and MA meal plan, there isn’t much left!
I’m sure your financial aid office will work with you to apply the funds in the way that helps you the most