<p>Does anyone know how UM treats outside scholarships? Do they reduce your grants/scholarships or do they use them to reduce your loans?</p>
<p>It can depend on the scholarship, anything federal or state will be included in their financial "award" page. Therefore, they may not give you as much money from the university itself because they assume you will get financial aid from other sources. In my case, all the financial aid was from the state of Florida, except for the academic scholarship from um which isn't based on financial need. Since I've heard um is having budget problems from people who are attending the university, I don't expect them to be too generous with the financial aid from the school itself.</p>
<p>I called today and basically it seems that once you exceed the 47000 which covers tuition, room and board, the next 6000 up to 53000 is yours to either reduce loans or give you back for campus money, etc. After the 53000 (if you earned lots and lots of private scholarships) they use the excess to reduce the scholarship dollars that UM has given you.</p>