<p>Would U-M apply outside scholarships toward my EFC portion or replace my Financial Aid package with them first? I have read that many schools have their own special way to handle this.</p>
<p>no one knows?</p>
<p>i wish i knew....</p>
<p>They will replace your financial aid with the scholarships first. If the scholarships are being written to you and not the school, I'd recommend you not tell U of M that you received them. I never got any financial aid from Michigan, but I do get about $7000 of scholarships/year written directly to me, so that is very nice. :)</p>
I know this is an old post, but I could see how this person could get away with not reporting outside scholarships, since they weren’t receiving any FA from UM anyway. But what if you are receiving need-based FA? Has anyone NOT reported outside scholarships while still receiving loans/work-study/institutional grants? And if so, what happened?
What I’m more concerned with is what is reduced first when reporting outside aid - loans, work-study or institutional grants?
They replace in the following order, loans than work study than grants. You self report the scholarships by entering them on the financial aid package pages. All the outside scholarships that my son will be receiving have rules saying they mail the money directly to the college.
We just asked about this. The reply was that they replace loans, then work study, but you can request that they strart with replacing work study instead.
They gave me an M-Pact Scholarship (about $2,500). After I added a $3,500 scholarship, the university took away that scholarship and then started reducing the loans.
If you get an outside scholarship, you need to report it.