<p>First, my package from Northwestern says that I will receive 4,000 in Federal SEOG-EV money. Is that a grant or a loan?
second, it asks if i want to reject certain parts of a package...should I reject the loans since I have outside scholarships that can take their place or if I do that will they subtract my grant money because of the scholarships. I'm thinking i should reject anything and let them decide how much outside scholarships reduces my package.
Thanx for the help!</p>
<p>Federal SEOG-EV money - grant</p>
<p>If you are rejecting anything, it should be the loans (especially since you say you have outside scholarships to replace them).</p>
<p>Outside scholarships usually first reduce the self help portion of your FA (loans and workstudy). After the self help is exhausted then outside scholarships reduce the school grants.</p>
<p>so if i reject the loans they will know i want them replaced with the scholarship money?</p>
<p>If your outside scholarships can cover your loans, then you should reject the loans.</p>
<p>Ok great thanx! one more question, sorry lol if my outside scholarship are more than what the loans are can they save some of that money for next year's loans or will they automatically deduct that from grant money.</p>
<p>Unfortunately, it is on a yearly basis, and as sybbie says they will deduct it from their grant money.</p>
<p>I'm not an expert but every school does things a bit different. I would check with the financial aid office, at the school, first. Ask them what happens if you have outside scholarships, ask them what happens if you reject the loans and want them to take the place of the loans. You don't want them to reduce your aid from grants, with the outside scholarships. Some schools will do that. The best scenario...after you report your scholarships they will reduce the loans accordingly. Until you get this information, I wouldn't reject anything.</p>
<p>I wouldn't reject any loans that survive the outside scholarship reductions. That is free money. No interest and no payments until you graduate.</p>
<p>well i have 4,500 in loans and so far 6,000 in outside scholarships so there wont be any suriving loan money---im trying to make my education as free as possible :) meaning I dont want to pay back loans after school. I am also hoping I receive the gates scholarship because everything is totally covered. I'm going to call the fin aid office because i want some of my scholarship money to cover books and supplies--which it could if they didnt automatically deduct from grant money..so i will see what they say.</p>