<p>Here's the situation: For UIUC, COA minus EFC equals about $12000. I am expecting somewhere in the ballpark of $8000 merit aid. To calculate need-based aid, will the school subtract the merit aid I receive from the $12000, leaving me with $4000 to potentially divide between gift aid and loans? Or will the school leave the merit aid I have earned out of the picture, and potentially divide $12000 between gift aid and loans? Thanks for any response.</p>
<p>The money is pretty much added onto your EFC, which will reduce your financial aid package. The bad part is, it will likely replace gift aid, leaving you to pay for the rest through loans.</p>
<p>That's what I was afraid of. Has anyone experienced this kind of situation with UIUC, and what were the results?</p>
<p>COA-EFC = 12,000 demonstrated need</p>
<p>12,000-8000merit scholarship</p>
<p>4000 which will most likely be met through subsidized stafford loan (2650) and work study of 1350.</p>
<p>However, if you were to get an outside scholarship up to $4,000, it would reduce your self help aid (in this case the loan, then the work study).</p>