Outside Scholarships reduce grants?

[cpj1000]

<p>Hello, this is my first post here so please go easy on me! (I tried the "search" function, but I couldn't find an answer to my question)</p>

<p>Please hear me out!</p>

<p>I'm thinking of a scenario...
Estimated Cost of Attendance of College A: $20,000
Financial Aid (Grants, state programs, etc): $18,000
Loans: $2,000</p>

<p>So here's my question: If you win an outside scholarship that worth $10,000, what would happen?</p>

<p>Do "I" get the $10,000 in addition to the financial aid + loans? (totaling $30,000)
Or do the financial aid + loans decrease by $10,000 and the outside scholarship gets used for attending the college?</p>

<p>Thank you!</p>

[swimcatsmom]

<p>Generally your EFC plus scholarships plus need based aid can not exceed the school’s COA. If you receive scholarships that will take you over the COA then in most cases your need based aid will be reduced(because your need has been reduced). Most schools will reduce loans and work study before they reduce grants.</p>

[alamemom]

<p>Here is U.Va.'s policy on outside scholarships:

Non-University Awards
Federal regulations and University policies require Student Financial Services to consider all sources of assistance received by a student when determining eligibility for financial aid.
Non-University awards include all scholarships and grants awarded by agencies other than our office. They include University Alumni Association, Resident Advisor room and/or board awards, ROTC scholarships, National Merit or National Achievement Scholarships, Tuition Benefits/Reimbursements, and any scholarships or grants awarded by churches, high schools, fraternities & sororities, corporations, professional or civic organizations.
It is the student’s responsibility to notify Student Financial Services if they will receive any assistance not reflected on their award letter. If you will receive outside scholarships, you must go to the Finances section of the Student Center in the Student Information System (SIS) and click on “Report Other Financial Aid”. If you have not applied for financial aid, you will not see this link. In this case, please complete the Third Party Payment Form found here. </p>

<p>In the event that students receive additional assistance not listed in their award information in the SIS, Student Financial Services may be required to reduce University-administered financial aid to remain in compliance with federal and state regulations and University policies. If you receive Non-University awards after your Federal funds have been awarded, your eligibility for aid will be reassessed. When your Federal aid is reduced by other awards, you will receive written notice of which funds have been reduced and by how much. You may be required to pay back disbursed funds for which you are no longer eligible.

[U.Va&lt;/a&gt;. Financial Aid - Non-University Awards](<a href=“http://www.virginia.edu/financialaid/nonuniversity.php]U.Va”>http://www.virginia.edu/financialaid/nonuniversity.php)</p>

[cpj1000]

<p>Thank you swimcatsmom and alamemom!</p>