I have a financial aid package from UVM that is roughly $24,500. That includes a $16,000 merit scholarship, $2000 need-based scholarship, $1600 work study, and a $5500 Stafford loan. That means I’m responsible for roughly $5000. I recently found out that I got nominated for the $1000 scholarship from my high school, and I’m in the running for another $3000 worth of other scholarships. Assuming I get another $2500 worth of other scholarships, would this affect the need based scholarships and work study that UVM has offered me?
It’s up to the school, but probably. Some take away loans and work study first, which is not a bad thing, but others let you receive a few $$ in outside scholarships to make up the difference. Merit aid can also a use your loanswer to be unsubsidized.
Call the FA office and ask. You are not the first in this situation. Even getting rid of loans is a good thing, so take the outside scholarships.