<p>I just received a letter saying I was awarded a $70,000 trustee scholarship, or $17,500/yr. I’m pretty psyched, but I’m hoping this award is independent of future need based aid. Can anyone confirm this or set me right?</p>
<p>Congrats turntabler …</p>
<p>Have you submitted a FAFSA form? I’m not sure if this helps but from the Allegheny Financial-Aid FAQ:</p>
<p>[Frequently-Asked</a> Questions Financial Aid | Allegheny College - Meadville, PA](<a href=“http://sites.allegheny.edu/finaid/frequently-asked-questions/]Frequently-Asked”>Frequently-Asked Questions - Financial Aid | Financial Aid | Allegheny College)</p>
<p>Q. What is the difference between a grant and a scholarship?</p>
<p>While both are a form of “grant assistance,” or money that you do not need to repay, there are usually differences between them. Typically, a grant is financial need-based money awarded to a student by a government agency, non-profit organization, or college. Some scholarships may have a need-based component, but most are merit-based and have distinct requirements which you must fulfill to receive and keep the scholarship. The Trustee Scholarship at Allegheny College is entirely merit-based. It is determined once a student has been accepted for admission and is renewable for a total of 8 semesters.</p>
<p>YJ76</p>
<p>Thanks for replying.</p>
<p>I did read that, and I have submitted the FAFSA, but I was basically wondering if they would deduct the merit scholarship from my eventual need based financial aid award. It doesn’t seem like they quite answer that question, although it sort of hints at it being completely independent.</p>
<p>I thought that was what you were driving at but I’m sorry I can’t answer that question. Why not call & ask the Financial Aid office? I can’t imagine why a Trustee Scholarship would affect need-based aid but then DD didn’t submit a FAFSA form. Good Luck !</p>
<p>I believe that they will, indeed, deduct the scholarship from your need based aid. So if your need is determined to be $25,000, they will subtract the 17,500 and then offer either a grant or loans to meet the remainder. If your need is found to be less than $17,500, they you will not qualify for additional aid. It isn’t just Allegheny that works this way. Most schools do. However, no matter how much your need may decrease over time, you are guaranteed the $17,500 every year as long as you meet the academic requirements for the scholarship.</p>
<p>I don’t know the specific of Allegheny and this scholarship but generally, any scholarship will affect the need based aid because that is the definition of need. You can’t have the same need when you have some help coming from scholarship. However, the scholarship usually reduce the loans and work study need first, so if the school does not meet full need and give you loans or work study, the scholarship will cancel those first and leave your need based aid alone until those are exhausted.</p>
<p>Thank guys, that was very helpful.</p>