<p>Considering Davidson has no loans in their need-based packages, I am confused as to how outside scholarships are handled. Do they remove a work-study component? At other colleges they replace the loans first, to my understanding, but at Davidson there are no loans to begin with. Does outside scholarship money just go to waste?</p>
<p>Ya know, I really don't know how outside scholarships work if you're receiving financial aid. I didn't do the financial aid thing, but I did receive a scholarship for a few grand from winning a Newsweek/Kaplan essay contest. Basically, I just went into the business office, endorsed the check, and paid that much less tuition for this semester. </p>
<p>I think that what they do (and I would confirm this) with outside scholarships is first they look at your need. Then they give you ALL you need, but if you have an outside scholarship, they take whatever that amount is and deduct it from what they're giving you this year. Meaning like if you need $20,000, they'd give you $20,000 (they give you ALL need). But say on top of that, you win a scholarship for $3,000. Well, they'll then take your $3,000 scholarship and instead of giving you $20,000, give you the $17,000 you NEED since you didn't NEED the extra $3,000 thanks to the scholarship.</p>
<p>Again, I would double-check that, but I'm pretty sure that's how it works with outside.</p>
<p>i'm almost positive that that is correct. they might deduct the work-study component first, im not sure.</p>
<p>Aaron981 I'm sending you a PM, I have first hand experience with this but it shouldn't be posted on a public forum. Anyone else interested in details can PM me.</p>