<p>So I have just been notified that I’m getting the Regents scholarship at UCSD, but looking at the financial aid summary they have for me is pretty confusing. To my understanding, FAFSA and Cal Grant cover all your financial aid, so you’re left with just your EFC. It looks like Regents does the exact same thing… I’m left with only my EFC to pay. Regents is the only thing listed as my Gift Aid. So what’s the difference between getting Regents and FAFSA/Cal Grantmoney? (in monetary terms only, not the priority enrollment and stuff)</p>
<p>Oh ya, and would getting outside scholarships reduce how much Regents offers me in order to keep me paying the EFC?</p>
<p>FAFSA is simply a formula and doesn’t directly provide ANY financial aid. It tells you what your Expected Family Contribution (EFC) is for college, and what your eligibility is for Pell grants.</p>
<p>Once your college gets the FAFSA data, they decide what kind of financial aid package to offer. There isn’t duplicate money.</p>
<p>Call the financial aid office(s) if you need help understanding their offer(s) – they’ll be very happy to help you.</p>
<p>In case anyone else has this question, I called UCSD and they said outside scholarships would reduce your Regents amount if you have financial need. I guess Regents and financial aid are equal if the school covers all your financial need, but I’m pretty sure Regents is always guaranteed to cover 100% financial need.</p>