<p>For many universities, I have seen messages like the following one: "Outside aid will not replace any Unsubsidized student loans, nor will it normally replace your family contribution."</p>
<p>If "normally" means that occasionally there are times that outside aid will replace expected family contributions, when would those times occur? Does anyone have a college that accepted outside aid in lieu of EFC?</p>
<p>How do colleges handle GI Bill money donated to children from their parents? Coca-Cola Scholarships? etc.</p>
<p>*
If “normally” means that occasionally there are times that outside aid will replace expected family contributions, when would those times occur? *</p>
<p>What they mean is…</p>
<p>Say that your EFC is $45k and the school costs $50k. Then you get outside scholarships that add up to $10k. At that point, your family would no longer have to pay $45k…now the family would pay $40k.</p>
<p>For those who have high EFCs (sometimes exceeding COA), then any outside scholarship will reduce EFC…right?</p>
<p>We have a high EFC. Our son accepted a near-full ride scholarship. We only had to pay a small amount.</p>
<p>Typically a scholarship will only begin to replace/reduce your EFC if the value of your scholarship exceeds what the college calculates to be your “need.” Otherwise, the outside scholarship ultimately just reduces need-based aid you have already received.</p>
<p>My parents’ EFC is $20,000/yr. My father intends to sign his GI Bill (about $17,000 total) over to me. I already have $7000 in scholarships, and I plan to apply for more. </p>
<p>Which is more likely?</p>
<p>A. For a $58,000 college, I’d have to get the full $38,000/yr in outside scholarships, and then anything over that would count against my EFC.</p>
<p>OR</p>
<p>B. The college takes half my outside scholarship to help alleviate their burden and allots me the other half to count against my EFC.</p>
<p>OR</p>
<p>C. Unknown option</p>
<p>From what I’m reading, most of you would say A, right?</p>
<p>first of all, you’ve given your FAFSA EFC…do you know what your CSS Profile family contribution will be? </p>
<p>Will your family pay whatever they’re asked to pay? If not, that will be a big problem.</p>
<p>Outside scholarships are harder to get for years soph, jr, and senior. Whatever you get for this year may not be available for the following years. </p>
<p>Do NOT decide on a school based on the belief that you’ll get those private scholarships every year. </p>
<p>Your dad’s GI bill will cover less than one year’s EFC…how much will your parents contribute for the other years?</p>
<p>**BTW…“A” is not likely going to happen. Rarely does anyone get that much in outside scholarships for 4 years. **</p>
<p>Where are you applying?</p>
<p>I see that you have an ACT 34 Composite…very good.</p>
<p>To protect yourself, apply to a couple of schools that will give you huge merit for your stats…just in case the finances don’t work out. What are your financial safety schools and do you LIKE them??? (these are schools that you know for sure that you can afford)</p>
<p>You’re right, mom, I should have thought of that before I posted. I am simply frustrated. My school administration is not familiar enough with anything outside of our state to be able to accommodate my aspirations. They haven’t even told me that I’m a National Merit Semifinalist, yet. I do not know what a CSS profile is although I may have heard of it.</p>
<p>My financial reach schools are Harvard, Yale, Columbia, Tufts, and Georgetown.</p>
<p>Schools where I think I might be able to get merit scholarships are University of Michigan (Ann Arbor), George Washington, University of Minnesota (Twin Cities), and Georgia Tech. Of course, costs at these schools may also be prohibitive.</p>
<p>I’ve already been told that I can get all expenses (full ride +) at my state university. It’s a fabulously beautiful campus (considered one of the best in the country) with an honors college and a great program in my major; however, it’s a party school, and I had already achieved their ACT average when I was in 7th grade.</p>
<p>Harvard and Yale are much more generous with financial aid than most schools on your list. Harvard has a “Net Price Calculator” on their website so you can see an estimate of how much aid you can receive. Of course the only problem is getting in!</p>
<p>I do not know how Harvard would apply your Dad’s GI money but you can always ask. There may be a number of schools that would offer you merit - if you post more details of what you are looking for I am sure people here would have some recommendations (major/location etc). </p>
<p>If you are a National Merit Finalist there will be many opportunities for scholarships. Best of luck.</p>
<p>*I’ve already been told that I can get all expenses (full ride +) at my state university. It’s a fabulously beautiful campus (considered one of the best in the country) with an honors college and a great program in my major; however, it’s a party school, and I had already achieved their ACT average when I was in 7th grade. *</p>
<p>What state are you in? Mississippi? If so, there are other schools that will also give you large merit.</p>
<p>Don’t worry that you achieved their ACT avg in the 7th grade…many TIP kids find that to be the case…If you’re going to be in a challenging major, then your classmates will also be higher stats kids. Those with the lower stats will more likely be in easier majors. That’s how it often is at large state schools.</p>
<p>UMich and GT may not give you merit scholarships.</p>
<p>The school choices are based on a major of international political economy and Chinese language, which limits my choice of a school somewhat. The only school in Mississippi, my home state, that offers a major in Chinese is Ole Miss. My minor choices lean towards neuropsychology, public policy analysis, cultural anthropology, sociolinguistics, other languages, etc. </p>
<p>I will be attending the local on the road tour sessions for some of these colleges, so I can ask my questions there as well.</p>