<p>I have been fortunate to win two scholarships that almost cover my student loan. I found out earlier that the amount of scholarships is first applied to the student loan. My question is what happens when you win scholarships in an amount higher than the student loan or $6000. Is it possible for these scholarships to then be applied to the Family Contribution because my parents will have to take a loan for this...we simply cannot contribute what the government thinks we can. I already called the Financial Aid office..I left a msg to speak with a counselor but no one has called me back, thus I am asking here if anyone knows. Thanks hoos.</p>
<p>What's more likely (and standard at most schools) is that the scholarship money in excess of the loan amount will be deducted from your grant money.</p>
<p>Noooo! Why???? Aghhhh, so all this applying to scholarships is kicking me in the buttocks....oh, well my parents were hoping it would be the other way around.</p>
<p>Yea, it sucks, but it's the way the world works. Financial aid is limited and that money doesn't come from nowhere.</p>
<p>If only some scholarships would give the money to me and not directly to UVa :D</p>
<p>But it would be unethical to not report (and possibly illegal?) to not report it to UVA in that case.</p>
<p>Keep in mind that UVA has a number of scholarships offered only to non-freshmen. Maybe you'll be fortunate enough to earn one next year.</p>
<p>I think the sequence is first unmet need, then loans, then work study, then grants. I don't think scholarships can be deducted from family contribution.</p>
<p>I asked the same question to a fin aid counselor during DOTL. Outside scholarships are first applied to loans, then grants, and then whatever else you have to pay.</p>
<p>Thanks tj. Cavalier, there was only one scholarship that I can think of that gives the money to the student and there are no requirements on how to spend them...I was thinking of that one when I wrote that. I hope I win that one :)</p>
<p>Does anyone know when we're supposed to tell UVa about the outside scholarships? I know we're supposed to fill out some form, but which one? </p>
<p>For the fin aid award letter, were supposed to return that by May 1? I guess it'd be a little late now...</p>
<p>For the outside scholarship, I think you have to tell UVA once you get the scholarship so they can start adjusting your award accordingly. You have to use the Non University Award Notification form:
<a href="http://www.virginia.edu/financialaid/forms/uploads/financial_aid_form/NonUniversityAwardNotification0708.pdf%5B/url%5D">http://www.virginia.edu/financialaid/forms/uploads/financial_aid_form/NonUniversityAwardNotification0708.pdf</a></p>
<p>You don't have to return the preliminary award letter unless you want to reduce/adjust your loans or work study. I talked to SFS and they said that when the official award letter comes, that's the only time you will reply and be asked to accept/alter your award.</p>