Does anyone know what Cornell’s financial aid policy is regarding how they treat outside scholarships and impact on Cornell need-based financial aid packages? Do they reduce your calculated need dollar for dollar with the outside scholarship? Or allow you to use scholarship to pay the remaining bill (no change to aid package)?
You have to inform them of all outside scholarships. I’m pretty sure it’s dollar for dollar. So if your estimated family contribution is $40,000 for example, and they offer you aid of $30,000 to meet your need, and you have a scholarship for $5000, then their aid offer goes down by $5000 to $25,000. Just using example numbers, but you get the idea.
Found out their official policy is to reduce self-help aid (loans and work-study) with outside but will NOT go below EFC…thx!