<p>Hey everyone</p>
<p>I've heard conflicting ideas on what happens with outside scholarships in regards to Ivy League schools (specifically Penn). If I get say $20,000 in financial aid and a $5,000 outside scholarship, will I have a total of $25,000 in financial aid at an Ivy League school or do they just take away $5,000 of their $20,000 package? I guess I'm just wondering if it is worth it to fill outside scholarships to pay for an Ivy League education. Thanks for all the help!</p>
<p>Schools vary in how they deal with outside scholarships. Go to the Penn website, to askBen:</p>
<p><a href=“http://upenn.intelliresponse.com/srfs/index.jsp”>http://upenn.intelliresponse.com/srfs/index.jsp</a></p>
<p>Type ‘outside scholarship’ and the first question will be the one you asked. Most college websites have a section on their FA page about how they deal with outside scholarships.</p>
<p>I would still apply for 5k scholarships. It will likely reduce self help like loans and w/s and it will be an impressive achievement to list on your resume, for internships and make you look good.</p>
<p>^ Agree with both.
Some school do allow stack scholarships up to CoA (or even a bit more), some may just up the need or even deduced from other scholarships. You should also check the policy of that particular scholarship too.</p>
<p>When one uses the term “ivy league” it’s not as though these schools are that much alike in terms of policies. One has to actually research what a particular school’s policy is for these things.</p>
<p>As a rule, getting such awards is worthwhile in that they often will be used to reduce self help components of the aid package. And you can then replace those things on your own You lose a work study award due to an outside scholarship, you are highly likely to be able to find an outside job at the school for those lost amounts which often are not even guaranteed and you only get that money AFTER you worked the hours and earned it. </p>