<p>So right now, I am fortunate enough to have a lot of outside merit scholarships (totaling around $20k). However, I will be attending a private college next fall and, as you know, they will reduce their grant aid to me after reducing my student contribution portion (which I have already covered with National Merit). The family contribution portion will not be reduced.</p>
<p>What have other people's experience been with this? If you are in the same situation, how did you handle it and were still able to use your outside funds to reduce family contribution? Because from the way it seems now, my family will have to pay the same bill with or without the scholarships because the college will keep the merit aid, so it seems kinda worthless to have won all those scholarships... I would like to find ways to avoid this, so Any advice would be appreciated!</p>
<p>What school is this and what are the specifics and amounts of your grants and NM Scholarship? What is your EFC? What is the COA of the school and the COA breakdown?</p>
<p>It’s hard to comment without specifics and amounts.</p>
<p>If your grants total less than $20k in your outside merit, then maybe the school will let your family contribution be reduced. Our family contribution is greatly reduced.</p>
<p>If your EFC was $55k, how would the school handle your NM scholarship? Wouldn’t that reduce family contribution?</p>
<p>I haven’t decided exactly where, but it will be an expensive private institution…</p>
<p>The parental contribution is around $10,000 and the student contribution is around $1500. I will use my NM funds to cover student contribution, but the problem is, after that, I can’t use my merit scholarships to reduce my family contribution because it will directly reduce the college’s aid to me. Is that not what you experienced mom2collegekids?</p>
<p>^^^</p>
<p>That’s why we need some specifics. Give the specifics of your #1 choice. Is your NM money the one time $2500? What school is your #1 choice? Are you only getting grants from that #1 choice? </p>
<p>I’m not even sure if you can use the NM towards your student contribution. Some schools will use that to reduce grants, too. Have you been told that you can?</p>
<p>Did you apply to any financial safety schools? Have your parents told you how much they will contribute?</p>
<p>Can’t outside scholarships be used for leverage against the school? If I go to Kansas State and tell them I’m bringing $20K in scholarships with me, what will they do for me to come to that school. Repeat the process for Kansas, Illinois etc. </p>
<p>I don’t understand why colleges feel that they are entitled to take all scholarship money and feel no obligation to kick in money of their own.</p>
<p>^^I agree, I hate colleges taking scholarship money away.</p>
<p>Anyway, mom2collegekids, I’m leaning towards Princeton right now. The NM money is yearly and would pay off my student contribution portion. Ergo I have a lot of merit money right now that will be useless since the college will only reduce their grant award to me… any ways around this?</p>
<p>bumppp anyone else??</p>
<p>*Anyway, mom2collegekids, I’m leaning towards Princeton right now. The NM money is yearly and would pay off my student contribution portion. Ergo I have a lot of merit money right now that will be useless since the college will only reduce their grant award to me… any ways around this? *</p>
<p>Are you certain that your schools will let you reduce your contribution with your NMF? Or is your contribution work study? </p>
<p>Yes, it’s a bummer when schools do this. It seems like the only way to reduce family contribution is when it’s very high and therefore the scholarships cover all of need and then cut into EFC (that’s what happened with our kids). </p>
<p>Is the problem that your parents can’t afford their contribution? If not, how much can they pay and how will you cover the difference.</p>