<p>If that's true, what's the point, since having a few extra hundred dollars will decrease your amount of aid in the financial aid package significantly?</p>
<p>Well, since MOST schools do NOT meet need, then the scholarship would help.</p>
<p>If you’re going to a school that costs $30k, and you have an EFC of $10k, and the school only gives you a $5000 loan, then a scholarship is going to help you pay for school.</p>
<p>Also, since most schools also put loans in FA packages, then a scholarship would reduce a loan if your need was met.</p>
<p>Also, if your EFC is higher than the school’s cost, then that will also reduce what you have to pay.</p>
<p>What is your EFC? And what schools are you applying to?</p>
<p>My family income is $40k<x<$60k. I’m applying to USC, Cal, UCLA, and a few others.</p>
<p>Well, if you were to go to a UC, then your FA package would likely include…work-study, a full Stafford loan, some Perkins loan, a Cal Grant and maybe some UC grant money.</p>
<p>So, since you’d have about $7k in loans for frosh year…and about $2k in work study, then a scholarship would reduce that…or cover any gap in aid.</p>
<p>Can’t remember if USC puts loans in FA packages…if they do, then same story.</p>
<p>Thanks for all your helpful info on FA! 
I’ll definitely try to apply for some scholarships now since I probably won’t be admitted into any ivies or other schools of that caliber and that aid-munificence.</p>
<p>If you’re talking about outside scholarships (scholarships given by any entity other than the college itself), try to focus your efforts on renewable scholarships. Otherwise, you may find you have money for freshman year – and nothing else. Better, find some schools that are known for being generous, and where your stats would put you near the top of the incoming class. Scholarships given by the colleges are almost always renewable.</p>