<p>you still have not given the source of your scholarship. Is it an outside scholarship (then xiggi and keepmesane have both answered the question). </p>
<p>Is it a scholarship from the school? </p>
<p>Remember the federal methodolgy only determines your for federal funds; pell /seog/ achievement grants, stafford loans (subsidized and/or unsubsidized) and perkins loans.</p>
<p>
[quote]
So, sybbie and keepmesane, what you are saying is that my scholarship would essentially negate my need-based award?
[/quote]
</p>
<p>It is really NOT that complicated. The answer is, alas, not the one most of students who have both need- and merit-based awards want to hear. :D</p>
<ol>
<li><p>Your FAFSA will establish the MINIMUM you will have to pay if you receive need based aid. Do not expect the IM to provide a meaningful difference in your favor, if any. </p></li>
<li><p>Unless you receive ZERO dollars in NEED based aid, you will never pay less than your EFC. </p></li>
<li><p>If you get need based aid, it is possible that your outside scholarships might eliminate the self-help part of your contributions. But again, you're stuck with your EFC.</p></li>
<li><p>If your school scholarship is merit based and your school does not piggy back the Pell, SEOG, or other federal programs, you MIGHT be able to stack your MERIT awards. </p></li>
<li><p>Yes, it is unfortunate that some money you "earned" goes unused. However, you should find some consolation in the fact that the "saved" funds will benefit someone else or yourself in a future year.</p></li>
</ol>