<p>So I recently got enough scholarships to pay off my first year plus a few more so I have more money than what I need for my first year. My financial aid portal says there's an "over budget hold" and that they're going to review my financial aid package. Are they going to reduce the amount of money for some scholarships or will I get the extra money? It would make more sense if I got the money personally because I applied and dedicated a lot of time to some of my scholarships only to have them take away some of the money I received.</p>
<p>I copied this from alltluition.com:</p>
<p>What happens if you get an outside scholarship and your financial aid package changes?</p>
<p>If you are eligible for need-based financial aid and have submitted the FAFSA, your aid package will be accordingly reduced so that your total financial aid will not exceed the cost of attendance by more than $300. This is a federal rule, so that schools often do not have a choice in the matter.</p>
<p>However, schools will usually allow some room to tweak your financial aid package. For example, they can cover all unmet need first, before reducing your package. Also, certain grants, such as the Pell Grant, tend to stay the same. The outside scholarship is likely to affect campus-based aid first, such as the FSEOG Grant, Perkins Loan, Stafford Loan, Federal Work-Study, and the schools own student aid funds.</p>
<p>You should contact your school directly for more details.</p>