<p>hey quick question:
so when it comes to private outside scholarships from unions, high school, local businesses, etc. i was wondering if they send the check to USC for say $1,000..is it actually going to be 1000 dollars cheaper for you to attend USC or is USC going to perceive it as 1000dollars added to your income and deduct 1000 from your financial aid offer? i know they cant deuct it from schoalrships such as presidential, dean, university what not...but ive been told they can subtract it from your FA offer. thanks!</p>
<p>Bumpppppppp</p>
<p>It is sooooooooooo complicated, you probably should call or email the financial aid office to ask them about your specific situation. To give you an idea of how it works, at the USC financial aid session at Explore, it was explained this way:</p>
<p>Outside scholarships are first applied to the "self-help" portion of your aid consisting of subsidzed loans (subsidized Stafford and Perkins, but NOT unsubsidized Stafford), and federal work/study. If your outside scholarships exceed that amount, they will reduce federal grants such as the Pell. Then they would be reduce the University need-based grant (if any) and then the Cal Grant (if any.) Only after all of those have been covered would your outside scholarships help with your EFC. Your Dean's scholarship will not be affected - you get to keep that because it isn't need-based, it is merit based.</p>
<p>A hypothetical example:
If your USC aid package was</p>
<p>Cost of Attendance: $52,118</p>
<p>Dean's Scholarship $9,278
Federal work/study $2,500
Subs Fed Stafford loan $3,500
University Grant $11,722</p>
<p>"additional loan eligibility" of $25,000</p>
<p>Being awarded a hypothetical $7,000 in ouside scholarships would most likely eliminate your Subs Stafford loan and work/study, and reduce your University Grant to $10,722.</p>
<p>The new package (including hypothetical $7,000 in outside awards) might be:</p>
<p>Dean's Scholarship $9,278
Outside Scholarship $7,000
University Grant $10,722</p>
<p>additional loan eligibilty: $25,000</p>
<p>In the example above, you outside scholarships would have to be more than $17,722 before it started to reduce what they call "Additional Loan Eligibilty." (The additional loan eligibility is USC's FAFSA+CSS/Profile generated Expected Family Contribution.)</p>
<p>I am no expert, so contact the fin aid office, tell them what scholarship you have, and ask how it will be applied - THEY know!</p>
<p>My husband went to the financial aid office in person during Explore USC day and found the person he spoke to very nice and knowledgable.</p>
<p>From what I have experienced and heard from them, when you get 1000 extra scholarship money, they take out your financial aid money of the equal amount. Usually they start with loans then workstudy, and finally grants. so if you have loans you shouldn't worry about it because now you are just getting fewer loans</p>