Financial aid question - RE: new money

Colleges & Universities Cornell University
1

<p>Dear parents and students:</p>

<p>Does anyone know how this works ? My son has recv his finaid pkg for the year on late july/early august, I can’t remember. Since then we have received a new scholarship grant from my employer and we are planning to exercise CA governor scholarshare $ that wasnt previously applied. </p>

<p>Do they recalc the whole finaid pkg ? Does the new money goes toward reducing family contribution, or just be absorbed into Cornell’s budget, in latter case we are not helped directly.</p>

<p>Thank you in advance.</p>

2

<p>Any outside grants you get reduce the amount of loans the student has received and then reduces the work study package the student is expected to contribute. Finally it reduces the amount of grant money you are given. After all of this has been zeroed out, you can reduce the family contribution. As you can see, it takes a lot of scholarship money to finally reach the parent contribution.</p>

3

<p>Thank you!</p>

<p>Your answers are exactly what I am looking for. Yeah the new money isn’t going to dig into family contribution.</p>