What was the point of that?

Paying for College
1

<p>So on Friday I received the ACG money, which I was very excited about because I didn't realize I would be getting one. But today I looked on my financial aid report, and my school subtracted the amount from my need based scholarship. So for me, nothing changed but the school saved $750. I still have a $2000 loan-shouldn't they have subtracted the grant money from that first? Or is this (taking money out of need-based scholarships in favor of need-based grants) common practice?</p>

2

<p>I looked up my school’s policy with outside grants/whatever, and it does say that they will reduce loans and work study before scholarships. I have loans and the maximum amount of work study they allow, neither of which were reduced.</p>

<p>Did UNC just award itself my grant money?</p>

3

<p>I would definitely contact them and ask especially as they have that policy posted. Her 1st year when her financial aid changed several times her school always used additional grants (such as ACG) and scholarships to reduce her loans. However none of her scholarships from the school were need based. If the grant was a need based grant from your school itself perhaps they have a different policy. Ask them.</p>

4

<p>Your need was reduced by the ACG, so my guess is that your need based scholarship was reduced to match it.</p>

5

<p>Each school handles it differently, sounds like yours reduces grant first.</p>

6

<p>We reduce institutional money by the amount of ACG. In order to make the most effective use of our internal funds so that the largest number of students possible can benefit, we use something called equity packaging. Below a certain EFC, students who apply for financial aid by the priority date will receive funding that, when added to their EFC, will equal a certain number (“equity”). Included in equity funding is Pell, ACG/SMART. SEOG, and our institutional need based grant. When the ACG is posted, the institutional funding is reduced.</p>

<p>We did not do this last year, but we also did not use equity packaging. To be honest, the majority of students eligible for an ACG (that is, Pell eligible) are receiving a much better gift aid package this year when all is said & done.</p>