I will be starting college this fall as a freshman. Recently, I reported a $2,250 scholarship I got while in high school. As a result, my university reduced my financial aid by $2,300. Aren't they wrong in doing this?
Their website states that federal regulations prohibit the following:
• Receiving more financial aid than your cost of attendance
• Receiving need-based aid that exceeds your calculated financial need
The cost of attendance is $20,390.
My calculated financial need is $14,809.
Currently, less than $6,000 of my financial aid is need-based. The financial aid lady I called said that my university scholarship and Bright Futures counts as need-based aid. Since I earned those scholarship through my grades and test scores, they are obviously MERIT-based aid, not NEED-based.
If they give me the $2,300 back, I'm still receiving much less than $14,809 in need-based aid. So they never should have reduced my financial aid by $2,300 in the first place.
Am I missing something or what? What can I do about this? I need that $2,300 to be able to pay for everything.