Scholarships are grant awards that you do not need to pay back, therefore, they can be a valuable part of your education financing plan.
- In most cases, private scholarships are added to existing financial aid, and do not result in a reduction of the aid.
- An adjustment in need-based aid will be required only if the total need-based aid exceeds the calculated need.
- Self-help aid (such as loans and Federal Work Study) will always be reduced before any adjustment to the grant portion of an award.
- An adjustment in merit-based aid will be required only if the total award exceeds the cost of tuition and fees.