<p>So, I was accepted at Smith and Smith wants me to pay about $4000 a year in loans. This is very reasonable. Now here comes the curve ball: there is a scholarship that only me and about four other students can apply for which is worth $10000 a year. This is way more than I need for college which means, theoretically, college would be payed for if I got the scholarship. However, when my sister got a $20000 when she was attending the university of Denver the college became MORE expensive then it was without the scholarship. Does that mean if I apply and get the $10000 scholarship I would end up paying more for Smith than I already am expected to? Or would the cost of college still decrease for me?</p>
<p>My cousin was in this situation last year (or so) ago. What you should do is specifically ask the financial aid department at the school what they would do if you get a $10k scholarship. The school isn’t going to jerk you around. Maybe they’ll take away the 4k loans and 6k finaid, which would be okay. They’ll tell you. But it is also possible that they just take 10k away in loans. In that case, it doesn’t matter. If you win a scholarship, you aren’t obligated to take it or use it, im sure.</p>
<p>If the scholarship is merit-based, Smith will reduce self-help (loans and work-study) first.</p>
<p>If it is need-based, it reduces Smith grants.</p>
<p>From Smith’s web site:</p>
<p>[How</a> Smith treats outside aid](<a href=“http://www.smith.edu/finaid/outaid.php]How”>http://www.smith.edu/finaid/outaid.php)</p>