<p>While I agree that there are more merit aid opportunities for freshman applicants, need-based aid is calculated the same whether you are a freshman or transfer. The main difference is that transfers will receive a slightly larger Stafford loan than freshmen. Freshmen receive $5,500, sophomores get $6,500, while juniors and seniors are awarded $7,500.</p>
<p>Congratulations on the Cal Poly admit!!!</p>
<p>Good luck.</p>
<p>I would like to add that for our family, the estimated EFC using the NPC for USC came in almost exactly what was later determined by the FA office. I know others have posted about variances–some that were quite surprising, apparently–but I have often thought that the many of us who find a great correlation between NPC and final awards do not post about it much. Still, as we always caution everyone, individual families have very different situations. For those with their own businesses and property holdings, it is wise to be extra aware that the NPC may not be able to assess those as the FA office certainly will.</p>
<p>I am also posting a cautious note to RoysGoin who mentioned he/she is hoping for good FA plus he/she has applied for 2 other USC scholarships. My note to all is that if Roy is awarded one or both merit scholarships, they most likely will dollar-for-dollar replace any grant FA he’ll be awarded. It’s easy to get confused with all this–as it is never truly spelled out as a warning–but need-based FA will be reduced because they calculate that outside scholarships are, in fact, directly reducing your need that year. This is an important consideration if one plans to use good FA PLUS outside scholarships to cover costs. That will not be possible.</p>
<p>So if i win like a scholarship that is able to cover me with up to $20,000 a year for up to 5 years…USC would reduce the amount of FA i’d get?
Well that’s kinda lame…idk what to do then!
I don’t wanna graduate with a bunch of loans :(</p>
<p>I’m complaining like i already got into USC…i gotta at least get accepted first lol
Oh well, if USC happens to accept me & after doing all the calculations i realize it won’t be a smart financial decision…i’m going to Cal Poly </p>
<p>^That is how financial aid works at the vast majority of schools and really shouldn’t be a surprise. If you get a merit scholarship, it lowers the amount of school calculated “need”. Sometimes at some schools there is room to negotiate on financial aid packages depending on how much a school wants you-- sometimes not at all. </p>
<p>I thought than only USC scholarships reduced grants. There’s a space in the calculator to enter non-USC scholarships. When I enter a number bigger than my EFC + loans/workstudy, I get a net price of 0.</p>
<p>Any asset-- and an outside scholarship is considered an asset by many schools–is tapped when calculating financial aid. Do not be surprised to see outside scholarships reduce financial aid packages. You can try and negotiate where these scholarships get applied— whether it is to the grant portion (boo) or the loan portion (yay!). Not all schools will negotiate, but many will. It is always worth the effort to communicate with the financial aid office. All these questions are answered numerous times in the finanical aid sticky on this USC forum. </p>
<p><a href=“http://www.usc.edu/admission/fa/grants_scholarships/undergraduates/outsideusc.html”>http://www.usc.edu/admission/fa/grants_scholarships/undergraduates/outsideusc.html</a></p>
<p>“When coordinating scholarships, our office makes every attempt to preserve any university need-based grant you may have been awarded. In most cases, a new merit scholarship received after your initial financial aid award will reduce the amounts of Federal Work-Study and federal loans. The total financial aid award may also increase, allowing your Stafford loan to assist with the family contribution. In some cases, however, the amount of university need-based grant will be reduced.”</p>
<p>I’m assuming that grants are reduced when the scholarship surpasses loans + work study…</p>
<p>Some of us who’ve been criticized for participating in these discussions have students currently at USC and so are intimately familiar with financial aid practices now, today. Some things have changed from years past. Madbean is correct in that self employment is a challenge for the FA office to deal with, so if that is the situation, the parent(s) will need to be meticulous in explaining the where and why of expected income and then following up if it was not understood. OP: if either parent is self employed, do not rely on the NPC.</p>