<p>Say college costs $50000. </p>
<p>My EFC is 30000. I am offered financial aid package of 25000. </p>
<p>If I am also lucky enough to be offered merit aid of $10000 will this end up decreasing my financial aid package? Will winning a $1000 local scholarship?</p>
<p>It depends on the college and the form of financial aid. If you are getting federal aid or other grants/loans that prohibit distribution to anyone beyond the college’s COA, something has to be cut. Also colleges have their own policies on how they treat outside scholarship and how they integrate merit awards with financial aid.</p>
<p>Usually what schools do is they reduce the loans and workstudy first, and then they vary as to how they treat anything that cuts into the EFC. I have seen it done in a number of different ways.</p>
<p>Yes, merit aid reduces your need in the eyes of colleges. Self help is usually the first thing they cut–loans and work study–so it can still help you.</p>
<p>You are going to have to check with the individual school for their policy.</p>
<p>That said, most of the schools we have worked with will incorporate all awards into the original financial award offer. If you get more money later, the original award typically gets adjusted to compensate.</p>
<p>YMMV</p>
<p>Check with the school. Some schools will allow “stacking” of scholarships and need based aid up to the cost of attendance (I don’t know of any that will allow you to receive aid in excess of the cost of attendance…but that’s just me). At other schools your scholarships will reduce your need by that amount. Check with each school.</p>