<p>Assume that the Oxy Net Price Calculator gives a net cost of, say, $40,000 (taking into account the need-based award only). A student gets a $15,000 Oxy merit scholarship. What effect, if any, does the $15,000 have upon the need-based award? Is the need-based award reduced by $15,000, leaving the student no better off? Or does the student get the benefit of the entire $15,000, or something in between?</p>
<p>Any help on this issue would be appreciated, as it will determine whether it makes financial sense for our son to apply to Oxy this fall.</p>
<p>@SoCalDad2 The Oxy Net Price Calculator (or more accurately, your FAFSA EFC) will determine how much financial aid you receive. A merit award would count as part of that financial aid, so it wouldn’t necessarily reduce how much the family had to pay, but it would be 1) be a guaranteed $15,000 in aid every year and 2) be $15,000 each year that would be scholarship, not loan.</p>
<p>I’m not sure if this helps, but if you have additional questions, you should consider calling/emailing our financial aid office! They’re super friendly and I always email whenever I have a question :)</p>
<p><a href=“mailto:finaid@oxy.edu”>finaid@oxy.edu</a></p>
We were told over the weekend during our visit that merit scholarships are awarded ON TOP of your estimated amount awarded via the Net Price Calculator (as in, it might replace loans included in the net price calculator etc).
^ I recently called financial aid directly and they told me exactly the opposite from what the admissions counselor told me. Your net price calculator will apparently be fairly accurate and may or may not include scholarships within that amount