Here’s some answers to questions about what will be happening in the next week or so, and also to help us experienced parents that try to contribute avoid answering the same question over and over, and rather just link to thread.
Disclaimer - This is what has happened for last 8+ years when I have been through it, they could change it up - they are in charge! The dates are just guesses based on the past, colleges tend to operate like a machine and do the same things each year. Apologies in advance if the do something entirely different!
THE MERIT PROCESS
WHAT?
About 40,000 students apply in time to be considered for USC merit scholarships. Around January 23ish they will offer admission to approximately 1,200 students who will proceed to the next phase of consideration for the top awards: the Mork Family (10), Stamps (5), Trustee (100), and Presidential (200) scholarships.
It is good to understand that approximately 38,000+ will NOT get a scholarship in January and will have to wait until March with the other 20,000+ students that applied after December 1st. Big numbers. So don’t be discouraged, but it is a long haul for most. A letter is added to your portal if you did not receive a scholarship when portals are updated for all 3-4 days after packages are mailed, this tells you that you are still being considered for admission, will hear in March, but no soup (scholarship) for you. 
NMF 1/2 tuition award - These are not part of the January process.
WHEN?
I would guess (only a guess people!) that they will be sent the week of January 21st, usually arriving later in the week, around the 23rd or 24th. Again, totally a guess based on the last several years, it could be the following week. One year, due to some bad weather in LA they were sent on a Monday, but typical behavior has been mid-week. While the date is a guess, they do tend to stick to that timeframe because of Explore interview schedules that have to be met to flow into March decisions…
People in LA area start receiving the white boxes the day after they are sent, many in the country including major metro areas get it the second day. The rest (aside from delays - talking to you @WWWard) get it the third day, but by then the portals have updated just after midnight that same day.
HOW?
The scholarship packages have been sent in white boxes (they may be different color this year) that fit in most mailboxes, some are left on porches if not. They are a little bigger than a piece of paper and little less than an inch thick. They are impressive and beautiful packages as are the “regular” acceptances in March.
It is sent United States Postal Service - the good ol’ mailman. It is not UPS (the brown trucks). Since they come USPS, meaning postal service, and in your mailbox, setting up a My UPS account won’t get you anything here. International packets are sent DHL
Mail technology has really evolved that last couple years, but note these are packages, and it has been (note, has been) up to the sender to enable the tracking on a package. But ahhh some of you think - “we have have Informed Delivery Daily Digest” - the postal service that tells tells you what is coming in your mail that day. In the past and including last year, USC did not enable tracking on these package, so it could not be tracked. A couple people in Thorton did see their packages because they were sent independently of the main group, but it was literally one person that reported that. So the merit/admission packages from the postal service have NOT been included in the Informed Delivery Daily Digest, but technology keeps changing and varies by areas. So we will see what happens this year. I am sure many will have their conspiracy theories on findings ways to beat the system and find out early. It hasn’t worked so far.
While I understand the anxiety, imo I would stay off of the USPS site and sit back and let it happen likes USC intends - see if it comes to your mailbox! Seeing it online in some mail program defeats the mailbox moment which can be spectacular. This is why USC doesn’t just handle it online, a bit old school and torturous for sure, but incredible for those who are lucky enough to get the package.
WHAT’S INSIDE?
First, if you get the package, you are accepted. The package includes an acceptance letter and tells you what major/school you got into and which scholarship. Some will also include invitations to interview for a higher level scholarship with brochures like “Explore USC/Trustee’s Finalist” or other info relative to your specific scholarship.
You will not interview for higher scholarship if there isn’t an invite to do so included in your package.
If you DO NOT get scholarship info within your package but did get the JANUARY white box/acceptance package, in the past it has always meant that yes, you are accepted, and with the Dean’s which is 1/4 tuition.
Good luck all!