<p>I know outside scholarships replace dollar for dollar of self help aid, but if the scholarship is given each year, does it affect your EFC?</p>
<p>...or the amount of grants vs. loans you get?</p>
<p>Good question. I'm in this situation as well. For the most part, I would believe so. If the scholarship detracts from your aid packet the first year, it should do the same for the consecutive years. It might be helpful to e-mail the Financial Aid Office.</p>
<p>i would think that the efc would still be based on family income, and all the usual, and ONLY after the efc has been determined will penn take the scholarship into account to reduce loans, and other self help....but i have no idea if that's correct</p>
<p>AHHH!!! My bad. :( YEs, you are right! I fibbed. Well, sort of, I guess. Aren't loans kind of part of your EFC because you are expected to pay them off sooner or later? Well, then, if that is the case, then, if you get scholarships that will detract from your loans, then, ultimately, your EFC is less (that is, if the scholarship is given each year). But, if you only have grants that your scholarships will detract from, then your EFC wouldn't be affected. Do you kind of get my gist?</p>
<p>lol i believe loans are part of the financial package, not the efc, so efc should remain the same if loans are reduced</p>
<p>does anyone have experience with this situation?</p>
<p>Hate to say it, but Penn rips you off. I turned in like 2000 dolalrs of outside scholarship, and im pretty sure it just got absorbed into my financial aid which only covers a fraction of my tuition</p>
<p>personally ill risk getting shot, just dont raise the GD tuition again.</p>
<p>mengcheng,
True dat. :( My packet sucks.
What are your majoring in, btw?</p>
<p>international relations.</p>
<p>i called penn, and i dont think the guy liked me but he said that yearly outside scholarships do not affect efc for next year....however i'm not sure if he was listening to me or not...if someone could call to confirm that would be great</p>