<p>USC was generous and he has no scholarships of now but USC met all need with a large grant, a stafford loan, and a small work study.</p>
<p>Since he is a NMF's I wonder how that will impact the loan and the work study or if they will reduce the USC grant?</p>
<p>OOPs title should be affect and scholarships (slow down whew)</p>
<p>In my experience with USC and another private university - it's all about the EFC. So, if the merit scholarship at USC is equivalent to what you would have received in "need based" aid in the form of a grant from the school - then you are unlikely to receive any more in that form ( the rest would be in loans). If, however, the merit money does not equal the amount of "need" money you would have received, you should expect to receive some additional grant ("need") money from the school. If the school doesn't give any merit money - just "need" money, then it is still all dependent on the EFC and what the school determines they need to provide based on that formula. Hope this helps. If you want more detail, feel free to PM me.</p>
<p>Thanks Papa</p>
<p>I wrote that way too fast. LOL son was excited to see the final package.</p>
<p>USC has offered a
28K grant
3500 Stafford
500 Perkins
2,500 Work Study</p>
<p>The rest is EFC that I expected to pay. USC has a NMF merit scholarship of half tuition or about 16K. I am hoping that, if Son 1 chooses USC, it will wipe out the loans and work study. I doubt it will eat into the EFC but that would be nice. Worst case is they leave the loans and EFC alone and cut back the grant.</p>
<p>I will call on Monday but was curious if anyone else had see what happens here.</p>
<p>Generally scholarships reduce loans first, then work-study, then reduce grants. :)</p>
<p>Sometimes finaid can make an error and reduce the wrong side of the package, so, be sure to follow up and question them if they do not reduce the self-help portion first, it could be an error!</p>
<p>I agree with anxiousmom at most schools, and somemom is right, too. Check on 'em and keep them honest;) If I get a chance I'll see if I can find it on USC's site but that's what I remember from last year. Maybe someone else with an NMF with a need award at USC will weigh in soon and verify. </p>
<p>Congratulations, it appears he just made $6,500 X 4 =$26K (if FA stays the same, never a given).</p>
<p>OP, While not as clear as I would like - Sheesh. Why don't they just say what they want to say - I'm pretty comfortable saying that you'll like the result of the Monday phone call. ;)</p>
<p><a href="http://www.usc.edu/admission/fa/sg/%5B/url%5D">http://www.usc.edu/admission/fa/sg/</a></p>
<p>"Scholarships and Grants are forms of aid that help students pay for their USC education. Unlike loans, they do not have to repaid. Scholarships, grants, and fellowships come from a variety of university, federal, state, and private sources. Generally, scholarships and fellowships are reserved for students with special qualifications, such as academic, athletic, or artistic talent. Awards are also available for students who are interested in particular fields of study, who are members of underrepresented groups or who live in certain areas of the country. There are need-based grants which are based upon a student's demonstrated financial need.</p>
<p>Any scholarships you receive will not be in addition to your need-based financial aid but will change the composition of your financial aid eligibility. In most cases, we allow outside scholarships (Note: This is the odd part. I think they mean all scholarships from any source but that's not what they said. I think it's just poorly written.;)) to reduce the student loans or Federal Work-Study in your financial aid package. Each situation must be reviewed in light of availability of funds, state and federal regulations, and the university's financial aid policies. Federal regulations require that we consider all of your resources when determining your eligibility for financial aid. As a result, receipt of additional scholarship awards will most likely affect your eligibility for financial aid. Once your department notifies our office of a departmental award, we will revise your Statement of Financial Aid Eligibility and notify you of the revision.</p>
<p>If you are a recipient of an outside award that is not listed in your financial aid award, please send us a copy of your scholarship award notification so that we can adjust your financial aid package accordingly and notify you of the revision."</p>
<p>drizzit</p>
<p>Please report back after Monday's call. My son's PSAT score qualifies him for National Merit and he, too, is thinking of applying to USC.</p>
<p>Thanks.</p>