<p>I come from a middle-class family, and I am currently looking into applying for scholarships. Many of them say that financial need is considered or required. Should I bother applying to these? My annual household income is about $100,000-120,000, and I was accepted ED to an institution that has "covered 100% of my financial need" through grants and work study, so I feel like I don't have a shot at these scholarships. Am I right?</p>
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<p>You may have a shot at the scholarships. If the school covered your need…then presumably you HAD need.</p>
<p>BUT…any outside scholarships are required to be reported to your ED school. Those scholarships will reduce your need, and likely the award the school gave you. You need to contact the school to see how they do this but typically it’s reducing loans first, then reducing other forms of need based aid.</p>
<p>It sounds like you’re trying to reduce your “family contribution” with outside scholarships.</p>
<p>As Thumper mentioned, an scholarship awards are going to reduce your aid…likely will get applied to reduce/eliminate your work study award.</p>
<p>Any outside scholarships I receive will lessen my student contribution and then my work study. After that, it would lessen my grants.</p>
<p>Right…</p>
<p>Keep in mind that outside scholarships are often for freshmen only. What are you going to do about the other years?</p>
<p>I don’t necessarily need scholarships as long as I am able to find a job over the summer and some work-study, but it would be nice as I wouldn’t need to take out as much in loans. I was just wondering if I have any shot at scholarships that consider need.</p>
<p>Apply and see…you may find that you do get some scholarships. When my kids applied, they had to provide the FAFSA and that showed whether they had need (or not). Yours will show you had financial need.</p>