<p>I found out I was a NMSF today. I know USC gives half tuition to NMF(per year right?). If USC determines you need $20,000 of financial aid, will they add the $19,000 (to $39,000) to that or will they give you $19,000 and $1,000 ($20,000)? So basically will they add the $20,000 to whatever else you received or just count the $20,000 as part of whatever other FA they give you?</p>
<p>They will count the scholarship as a way of satisfying your financial need. In addition to the Presidential Scholarship, past finalists have received an additional $1000 per year for National Merit. I assume that will continue. Congrats on your NMSF. Personally, I think USC is the best deal around for NMF’s!</p>
<p>Agree with FauxNom. Scholarships are considered a “resource” that reduces your need (not just at USC - this is the policy at virtually all colleges).</p>
<p>But in the example you give, there is an advantage to the NMF scholarship over the need-based aid it would replace. If you DID qualify for $20,000 in need-based aid, that aid would include Stafford Loans ($3,500 subs + $2,000 unsubs) and Federal work/study of about $2,000 - $3,000. Your scholarship would replace those, and you would still be eligible for up to $5,500 in unsubs Stafford. So with the $19,000 USC-NMF scolarship, the $1,000 NMF and the $5,5000 unsubs Stafford, you would get a package worth up to $25,500.</p>
<p>If you receive the National Merit Presidential Scholarship you can still apply for local scholarships from your home area. These may be Scout, Camp Fire, Rotary, Elks, Optimist Club, church/synagogue, ethnic group and others.
SC also has alumni scholarships for particular schools. These are often partial scholarships, but every dollar helps.<br>
Check out your local library. There are booklets about obtaining financial aid.</p>
<p>If you do become a National Merit Scholar, have unique or outstanding EC’s and grades I suggest you apply by the early application date. You can then be considered for the Trustee Scholarships. There is no guarantee as they are very competitive. Also, an interview is necessary. It does not hurt to send in the application early, particularly if SC is your first choice.</p>
<p>If you are a National Merit finalist, and put down University of Southern California as your first choice on the National Merit Corp. paperwork, and are accepted to USC, then you qualify
for the half tuition Presidential Scholarship at USC, unless USC changes these rules. Check with USC.</p>
<p>NMSF’s are sometimes invited to interview for the USC Trustee Scholarship: a full tuition, four-year merit scholarship. Even if you “only” get the Presidential (half tuition, four-year merit scholarship), the financial aid officers at USC will look at your entire financial situation and may make additional grants or awards as appropriate. Getting the Presidential doesn’t make it impossible to qualify for other additional financial aid. Make sure you apply by the early deadline.</p>
<p>I will only go to USC if it’s $25,000 or less. I live in Michigan so I would pick Michigan over USC unless USC is around the same or cheaper. So I’d still need like $8,000. I’m not going to get a Trustee Scholarship (my ECs are just ok). Is USC likely to add in another $8,000 if my parents make a little over 100k/yr?</p>
<p>Your parents have to fill out the required financial aid forms and supply the requested information to get an answer from USC financial aid office. I suggest that you apply for as many scholarships as you can because you might be able to find additional merit aid money from other sources. Also, I suggest that you apply to USC and compare the outcome with that of other universities.</p>
<p>You won’t know aid until your parents fill out the fafsa and the CSS financial profile.</p>
<p>My son is at USC and a NMF. He has a 19K scholarship, a 1K NM scholarship, and a 9K grant along with stafford loans. I pay room and board the the above covers all tuition.</p>
<p>I make about 120K a year but I also have two in college so that splits the EFC between them. Will you be the only one in college from your family?</p>
<p>My sons have an EFC of about 12K each or a family EFC of 24K</p>
<p>Here is a calculator to estimate your FAFSA EFC: [FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>
<p>USC distributes federal aid (Stafford and Perkins loans, Pelll grants, etc.) using the FAFSA EFC, but uses the CSS/Profile to calculate your USC-determined need for USC grants. The CSS/Profile considers some assets, such as home equity, that are not included in the FAFSA calculation, so you may be expected to contribute more than the FAFSA EFC.</p>
<p>Here is some great information to help maximize financial aid eligibility: [FinAid</a> | Financial Aid Applications | Maximizing Your Aid Eligibility](<a href=“http://www.finaid.org/fafsa/maximize.phtml]FinAid”>http://www.finaid.org/fafsa/maximize.phtml)</p>
<p>I will be the only one in college at that point. But my parents make less than 120k and I have four other siblings who will be in college soon after me.</p>
<p>Have you considered taking a gap year so that you and another sibling are in college at the same time? Another possibility is to consider going to a community college and then applying to transfer to USC after one or two years. You will save a lot of tuition money by going to community college first. I don’t think the forms count siblings who are not in college at the same time. Just apply, fill out the financial aid forms and see what happens.</p>
<p>Stating an annual income without all of the rest of the required FAFSA/Profile information is like guessing how many beans are in a jelly jar… it’s nearly impossible to get the numbers right. USC gives great aid. If you want to go there, apply. Good luck!</p>
<p>Nothing ventured, nothing gained. I have read of many who have gotten wonderful merit awards from USC. Would definitely encourage you to apply early, as everyone else has done & just see what you qualilfy for. Keep your options open and you may be pleasantly surprised.</p>
<p>I have several friends who are paying less for USC than they paid for their private HSs! Good luck!</p>
<p>Another good thing about merit awards from USC is that generally, they only require you to maintain a 3.0 GPA, which is better than some other schools with a much higher requirement.</p>
<p>Four siblings going to college soon after you make it a rough ride for your parents. I think that with $120k/year you should not count on more than NMF + $1-2k for the first year, assuming that the rest of the finances are consistent with the annual income. When your siblings to do to college the amount of finaid will go up. Best way is to do scenarios with one of the online EFC calculators.</p>