<p>@ Alamemom </p>
<p>Thank you for your explanation and the link was definitely really helpful! :)</p>
<p>"If they determine you can contribute $20,000, that would leave a need of $35,000. Your financial aid package would be calculated with Federal Stafford loans (approx $5,500 for a freshman), Federal work/study, and USC grants for a total package of $35,000. If you are awarded a Presidential scholarship, it is a resource and your need becomes $15,000. Your aid is calculated on that amout and would add up to $15,000. Either way, you end up with $35,000 from USC, so there is no “penalty” for receiving a scholarship.</p>
<p>If in that same scenario a student was awarded a Trustee scholarship, then the loans and work/study would be replaced by the scholarship, and the student would only receive the $40,000 Trustee - $5,000 more than they would have received in need-based aid."</p>
<p>Now, I have more specific question. What does USC do with the federal grants (Cal, pell, etc.)? In the example above, you’ve established that the hypothetical family can contribute $20,000, with the remaining $35,000 covered by USC financial aid. However, let’s hypothetically say that the family is low-income, but has high-assets so the Institutional and Federal EFC values would be largely unequal. But the FAFSA does not consider one’s assets so this person could qualify for federal grants. Would that mean that these federal grants would reduce the $20,000 that the family is expected to contribute or would it go towards the $35,000? I apologize if I am asking too many questions. My family is unaware of the financial aid policies. </p>
<p>Once again, thank you so much for you help. I really appreciate it!</p>