Suppose I get an Outside Scholarship

Paying for College
1

<p>Suppose my EFC for a school is $20,000. If I get a $5,000 scholarship from a third party will my family have to pay $15,000 or $20,000?</p>

2

<p>What is the COA? Is this a PROFILE EFC? Most likely even if you are attending a school which meets 100% of need ( most do not), the school will reduce your loans first, so your EFC will still be $20,000.</p>

3

<p>You’ll need to contact the school to find out. Some schools will reduce loans, others let you apply to the EFC, others reduce your aid since your need is now technically reduced.</p>

4

<p>Ditto EK4.</p>

5

<p>I would say “most” reduce your aid not your EFC…but definitely check with your list of colleges.</p>