Forum:

Colleges and Grad Schools >> Scholarships and Personal Finance

Create New Topic

Search :

Sponsored Links

Friday, Apr 17, 2009 5:04 PM

  • Topic :
  • How does an outside scholarship help with the Expected Family Contribution (EFC)?         

If someone got $100,000 outside scholarship, does any of that help to reduce the Expected Family Contribution (EFC) at like a top school that does not give merit scholarships? Are we stuck with paying that $25,000 no matter how well student does on scores or if they are top in their class? National Merit is a very nice award, but I don't see how it really helps reduce the cost all the much at a top school.
Bill_A
(Post #1)
2 replies


Friday, Apr 17, 2009 5:15 PM

Outside scholarships are handled in different ways by different schools. The most common way they may use is replacing loans. You do not know where you will be accepted and what your financial aid package is going to be until they arrive. It is possible that an outside scholarship will not be helpful at some your schools, but it may well be very useful in others.
Nancy
(Post #2)


Friday, Apr 17, 2009 5:24 PM

There are cases where it doesn't help that much to apply for scholarships. Sometimes it just displaces some other aid you'd otherwise be getting from elsewhere (usually the college's own institutional funds) and is not applied to your EFC at all.
Collin
(Post #3)








© 2009-2020 HigherEdSpace.com, All Rights Reserved.
Higher Ed Space ® is a registered trademark of AmeriCareers LLC.