<p>I got offered $12,000 a year in merit aid by a school that costs $35,000 a year.</p>
<p>When they eventually calculate how much financial aid they will offer me, will they take the merit aid they offered me into account? Do they calculate financial aid independently of merit aid?</p>
<p>It depends on the school. My D got good merit aid offered from University of Vermont but they counted it in for Financial need.</p>
<p>(I know it depends on the school, but let's assume the worst type of school in this regard.)</p>
<p>So let's say a school costs $20,000 and they give you $10,000 in merit aid.</p>
<p>Are you saying, when they calculate your financial aid, they act as though the school only costs $10,000 (because that's what it will cost with merit aid factored in)?</p>
<p>If so, what a rip off, lol.</p>
<p>I totally agree. I thought merit aid was the gravy.</p>
<p>FA is calculated independently of merit aid. A school takes your family's financial information and calculates your EFC (expected family contribution). When you get a merit scholarship, the school USUALLY uses that merit aid to reduce your loan and WS portion first, and then it will reduce FA grants. It does not go directly to reduce your EFC.</p>
<p>So no, it's not all gravy, but it merit scholarships can reduce the cost of attending.</p>
<p>For the vast majority of college students, merit aid IS the gravy. The vast majority of college students do not have their full need met with grant aid.</p>
<p>The merit aid my D was awarded was the only aid received from the schools and the rest was suggested loans, WS and parent plus loans. So for us it wasn't gravy.</p>
<p>m&s,
I'm not sure I understand. The merit aid she received was not used to replace loans and WS? It didn't reduce her debt and need to work while at school?</p>
<p>BUT ... would you have received anything except loans and work study without the merit aid? If not, then it IS gravy.</p>
<p>If she received work study, which is need based, then that means that there was still need after the merit was awarded. If the school wouldn't have awarded grants in the absence of merit, then the merit is indeed a good deal. If the merit simply replaced need based grants dollar for dollar, then it's a wash.</p>
<p>She received WS, subsidized staffords for the full amount allowed, perkins and the merit aid, no need based grants awarded.</p>