<p>I haven't heard much discussion on this topic, so I want to see what everyone's experiences have been. I've heard from a few financial aid advisors that outside scholarships can affect the amount of scholarships and subsidized loans you get from the school. I know it affects how much of your stafford loan is subsidized or unsubsidized, but have any of you found a school cut part of your scholarship due to an outside scholarship?</p>
<p>I would assume it would depend on the amount of outside scholarships. I only have $1500/yr in outside scholarships and it hasn't affected any of my aid, whether it is loans, merit or need based scholarships.</p>
<p>I know my D is currently 'over awarded' because of some extra merit scholarships since her initial financial aid offer. I asked how this would affect her aid package and they told me they will reduce her loans but we are waiting to see how (she has Perkins and a sub Stafford). We are hoping to instead have her work study removed as she has an outside job that takes up too much time for her to use the work study. Merit scholarships are not affected.</p>
<p>Depends on the school; most will replace your student loans with your outside scholarships first, then reduce your workstudy, and then, if you have still MORE scholarship dollars, reduce your needbased grants. Some will do this 50%. It is important to read the financial aid websites for each school you are interested in to find this out! :)</p>
<p>Our school took away Perkins first, then work-study, then Stafford. While at times it feels frustrating that you are getting outside scholarships but LOSING aid, the result of having less loans (even if it's just for one year) is better.</p>
<p>Does anyone know of any schools that take away from merit or need-based grants? That would be a real crock if they did, but I wouldn't put it past some colleges.</p>
<p>If they take away my Ds loans and work study and she is still overawarded they will reduce her need based grants. They don't really have a choice if it is federal grants - they are not allowed to give need based money that would make her total financial package more than the COA. Merit money would not be reduced.</p>
<p>Well, they updated my financial aid ~ I was awarded a $3,000/yr Deparmental Scholarship and they lowered my WVU Academic Achievement Grant from $2,500/year to $2,042/year. This put me at my total cost of attendance of $20,702 for a commuting out of state student at WVU paid for. I am so fortunate for that!!</p>
<p>The $20,702 includes Books & Supplies $900.00 ~ Maintenance $2,650.00 ~ Room & Board $2,550.00 ~ Tuition & Fees $14,602.00</p>
<p>I still have the outside scholarship that have not been added on, so I will let you know how that goes...</p>