Does merit aid reduce loans if we receive need-based aid?

[lulut1]

---

Members do not see this ad.

Hey guys,

I'm struggling to understand how merit scholarships work. If I get merit aid but my family has a low expected financial contribution EFC), can I combine merit aid and need-based grants? Essentially, I am asking if merit aid reduces loans (federal or school) or if it reduces need-based grants. I am trying to make sense of what merit scholarships mean for us folks whose parents aren't wealthy. Thanks!

 

[WedgeDawg]

Usually schools remove need-based loans from your package if you get merit aid, but it's school dependent. At my school, they reduce loans, and at other schools I interviewed at, it was the same.

 

[lulut1]

Usually schools remove need-based loans from your package if you get merit aid, but it's school dependent. At my school, they reduce loans, and at other schools I interviewed at, it was the same.

Thanks for your reply. My bad if it wasn't clear, but you mean that they usually reduce "loans" and not "grants"? So I can keep need-based grants that I don't need to pay back in addition to merit aid that I also don't need to pay back? Or do you mean that any need-based aid will be reduced, loan or grant?

 

[WedgeDawg]

Thanks for your reply. My bad if it wasn't clear, but you mean that they usually reduce "loans" and not "grants"? So I can keep need-based grants that I don't need to pay back in addition to merit aid that I also don't need to pay back? Or do you mean that any need-based aid will be reduced, loan or grant?

Sorry, what I meant to say is that they will replace loans preferentially with merit aid.

 

[Glandzburg]

Call the financial aid offices of the schools in question. It is literally their job to help you with this stuff.


Sent from my iPhone using SDN mobile app