If UR meets 100% of demonstrated need, does that mean that they will give aid until meeting your EFC? Or something else calculated from the CSS?
Also, would the Presidential Scholarship money be part of the aid package? Or in addition to?
Unfortunately, the merit will not be in addition to the financial aid. Run the NPC and you’ll have a pretty good idea of what you’re expected to pay.
What is the point of even offering merit aid to people with high financial need, then?
There can be some benefit. Typically, meeting full need means they include a “self-help” amount on top of your EFC they expect students to cover with a federal loan. When you have merit or outside scholarship, they use it to cover that amount first before lessening any grants. At least that was our experience. Our daughter was picked up for an endowed scholarship year 2-4 and a department scholarship years 3-4. They did charge us less than our Efc those years and wiped out the self-help portion so she didn’t have any more loans. We are hoping our son, currently a freshman at UR gets picked up for a similar scholarship next year.
@turtletime Oh, thank you. I did not know that. Was this case where your daughter’s self help was covered by the college where she got a merit scholarship from (and needed financial aid too) only at URichmond? Or was this the experience all throughout, at other colleges too?
Thanks
@Neurotic2027 we found that to be the case at the peer schools she got into but no, not every school.
be careful though…the need based grant will change if your financial circumstance changes…they don’t guarantee it like the merit…