<p>say I have $15,000 in outside scholarship money…</p>
<p>basically I have no aid other than $6,000 in loans and $2,000 work study.
Student contribution is about $2000.</p>
<p>Im confused on how i use my scholarship $. I know it is first used from self help. I want to cover the loans but i want actually want to do work study and have a job over the summer…so can i use $6000 to cover loans and use the other $9,000 to reduce parent contribution?</p>
<p>srry to steal your thread, but i was just wondering if the student contrib. from summer income is part of the efc under student contribution? the man i spoke with told me the student contribution from summer is 2150, is that the same for all?</p>
<p>
[quote]
Outside Scholarship Policy for Aided Students
When you receive an outside scholarship (i.e., scholarships awarded from non-governmental sources outside the University), you will receive a dollar for dollar reduction in the self-help component of your financial aid package. Self-help includes student loans awarded to meet need, expected savings from summer earnings, and work-study. University grant will be reduced only after all self-help has been eliminated
[/quote]
</p>
<p>yeah i read that already...thats not my question...</p>
<p>the thing is, i didnt receive ANY grants...</p>
<p>So my guess would be that the money would go first to the loans, then work-study and student contribution. Just because you wouldn't have any required work-study doesn't mean that you still can't get the job. Then you can use that to pay your parents if that's what you want to do.</p>
<p>no, but do they allow any outside scholarship $ to be deducted from the parents contribution? if they dont, that seems pretty unfair</p>
<p>I don't think they do, but the unused scholarship money might roll over to pay for self-help in future years.</p>
<p>Are the checks written out to Penn?</p>
<p>no, but Penn said I can endorse it to them</p>