Dalila Yoon: It won't effect your financial help yet you will owe $25,000. A scholarship is a modern-day or award. A own loan, is a private loan, is a private loan. Ya gotta pay it lower back except you're on Wall highway.
Patrick Bitsui: Financial aid eligibility is based on "unmet need".Unmet need is the difference between your school's Cost of Attendance (tuition, fees, books, room and board, miscellaneous educational expenses) and the funds that you have available to you.Committed scholarship funds are funds you have available to you, just like cash.So - yes, students who receive scholarships are seen to have less unmet need, and therefore qualify for less need-based financial aid.One other thing to mention. Your EFC score is a financial aid index - it's not how much you'll pay for college. Your cost of college is determined just as much by the cost of the school that you choose to attend. If you think about this for a minute, you'll realize that this makes sens! e. What kind of financial aid system would give a student with an EFC of 5000 a total of $35,000 if they wanted to attend a $40,000 school, but no money if they wanted to attend community college? Think about how totally unworkable that would be - a government funded program that encourages students to pick the most expensive school option? "C'mon kids, pick an expensive school and the taxpayers will give you a whole bunch of money!"Short answer to your question though - yes - scholarship aid will lessen your financial aid need, and result in a smaller need-based aid award.I hope that helped. Good luck....Show more
Donald Caravalho: the answer depends on the specific scholarship -read the info closely and see your financial aid counselor for more info.
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