<p>My gift aid is about $20,000, which means I'll be responsible for $9,000 without loans. A few questions though:</p>
<p>1.) I got the Scholarship Recognition Award. Is this a one time thing only?</p>
<p>2.) I'm waiting to hear back from a $3k, $5k, and $500 scholarship... Let's say I get all three of them... that's almost 9k. Will they reduce my gift aid so that I still have to owe that much in loans?</p>
<p>3.) How easy is it to get scholarships later on? I hear that I can apply to up to 10 in-campus scholarships as long as I keep a 3.5 GPA as a freshman. How likely will it be for a student with extreme financial need?</p>
<p>1) No, that’s what they call need based financial aid.
2) Not entirely sure, but I believe that once you reach your EFC, they’ll take away money from the Scholarship Recognition Award for each additional private scholarship that you get. (e.g. If your EFC is $3k and you’re getting $9k in loans, then $8k of scholarships will leave you with $6k less in loans and $2k less in grants).</p>
<p>1.) So I’ll keep getting the Scholarship Recognition Award for the next three years?</p>
<p>2.) Um. I didn’t quite understand that. My EFC is 0. My parents will not be contributing anything.</p>
<p>If your EFC is zero then any extra scholarship money you get will be taken out of the amount of loans you’re offered.</p>