I agree with all the above very knowledgable posters. Assuming your EFC projections are correct, any merit $$ you would receive would replace the FA grant (free) money you might get. The Presidential would, in your case, replace your FA grants. It’s hard out there for middle income families. It’s brutal, in fact. But should a family have very low income, USC’s FA comes through with grant aid. I have not seen USC FA consider parent loans to be part of their FA packages (although parents may indeed need to borrow to pay for the portion that USC says they are responsible for). But the FA package is made up of Fed student loans, work study, grant aid, plus the EFC. For very low income, this means the family just pays for EFC which could be zero. In those cases, the student received grants above the tuition cost to include cost of attendance as well. So the answer to is USC FA stingy depends on where one sits, financially. There are institutions out there that are much more helpful to middle and upper middle class families.