<p>Here’s my situation: I’m going to the University of Virginia this fall. The Access UVA program there recently changed, so that instead of low-income students going almost totally free, they may have to pay up to $3,500/year. Thankfully, it’s capped at that. I am a low income student but I will have to pay $3,500 a year. My question is, if I now get scholarships, will they calculate my need as less, give me less grants and still make me pay the $3,500? (in which case, forget scholarships) Or would they actually allow me to put those scholarships toward my loans and legitimately pay less? (in which case, I’m all in for scholarships). Thanks! </p>
<p>Since this is a new policy, you’ll have to ask them. No one would have any experience with it but UVA should know how they are going to implement this policy. Some schools do allow outside scholarships to offset the student contribution, some do not. You have to ask.</p>
<p>From UVA</p>
<p>
</a></p>
<p>It sounds like they will reduce your aid, probably loans and work study first , then institutional aid. You are suppose to pay your student contributions from summer earnings from work.</p>
<p>call the school.</p>
<p>If they take away your subsidized loans, then you can get some/all of that back as unsub loans.</p>
<p>either way, plan on getting a summer job to help with any shortfall…including buying books before school starts, and buying stuff for your dorm.</p>
<p>It depends on the school. I would not be surprise if they reduce the grant first as your need is reduced by the scholarship.</p>
<p>As others have said, it depends upon the school as to how this is handled. It is federal law (and state laws can also have this same stipulation for state money) that you CANNOT get financial aid in terms of federal grants, subsidized loans, workstudy from federal funds in excess of EFC and COA with some exception with PELL. But how a school deals with their own money that they give out is entirely up to them. Some schools will allow outside scholarships to pay the EFC or student contribution, some with not. Some will immediately apply any outside money to need grants given by the school so they are the first thing that goes, some wiil start applying it to the subsidized loans, work study and federal money first and then EFC.</p>
<p>Here is their response to my email:</p>
<p>Thank you for contacting Student Financial Services. Outside scholarships replace loans first, followed by federal work study funds. Grants and scholarships are replaced last.</p>
<p>It seems that getting scholarships could be a good thing.</p>
<p>Replacing loans is ALWAYS a good thing.</p>
<p>That is good. UMich took away the grant when my D got their scholarships.</p>
<p>@billcsho it’s different if the scholarship is the school’s money versus outside money. If it’s the school’s money, they will almost always replace grant aid first. If it’s outside money, many schools will allow the student to replace loans and work study before replacing grants. </p>
<p>^ That depends on the school too. There was someone posted a school allow the first $5000 external scholarship before they trim the internal aid.</p>
<p>Just want to update my previous response. Initially the internal scholarships from UMich replaced the expected grant money (from state) in the estimated financial aid package. Today, we received a revised official award notice that they put the grant back in and took out the loan and work study instead. I don’t know what has caused this change but I think this is the fair way to allocate scholarship in FA package.</p>