<p>Ok so I read the page about outside scholarships on the Cornell website. They are first applied to work study and loans. Are they then applied to the student contribution (the summer employment expectation) or do they go immediately to reduce grants? (I know that they will not reduce the parent contribution with outside scholarships but it makes no mention of the student contribution, is it lumped under "self-help?")</p>
<p>outside scholarships will not reduce EFC (student or family) OR summer savings (student) outside scholarships will reduce work study then loans then grant money. your total finaid award amount will not change.</p>
<p>if you cannot cover your EFC or summer savings you must take out additional loans to cover these–your scholarship(s) cannot be used to cover those amounts. you must notify the finaid office, sign some forms, and usually apply for federal subsided/unsubsidized depending on your loan history and year in school. (i.e. juniors can take out more federal loan money than freshman)</p>
<p>for example…</p>
<p>I am a jack kent cooke scholar and have 30,000 year in scholarship funds if needed. this year i received 100% of my COA met through cornell financial aid (grants and fws). therefor, my outside scholarship estimate was zero. however, the jack kent cooke scholarship was allowed to cover my fws. </p>
<p>in addition, i took loans out to cover the EFC and summer savings (these amounts are not factored into your coa or finaid award. so even if you receive 100% of your COA met, you may still owe cornell money each year b/c they expect you to contribute these amounts toward your education). cornell fa worked out to where i took loans for the EFC and summer savings (federal sub and nonsub). then, my scholarship was allowed to cover these loan amounts. </p>
<p>so: in the end–my EFC and summer savings WERE covered by outside scholarship but ONLY because my scholarship has a provision to pay back loans in this type of scenario. it was a roundabout way of covering it. </p>
<p>your scholarship may not allow such transactions, in which case you just have to take out the loans yourself.</p>