<p>
You are already FAR more aware than most people starting the process!</p>
<p>USC will distribute Federal aid using your FAFSA EFC - so even if USC determines that you can pay the entire $55,000, you will still get your Pell and Cal Grants (I love it when I can pass on little bits of good news).</p>
<p>Even the Trustee scholarship should not prevent you from getting a Pell and Cal Grant, because to qualify for any Pell the FAFSA EFC must be below $5,273, and with a cost of attendance over $55,000 you will still show need (per FAFSA) of $15,000 with a $40,000 Trustee scholarship.</p>
<p>Anecdotally, there was a poster last year (entering Fall 2010) who qualified for the Simplified Needs Test on the FAFSA and so qualified for Pell despite high assets. USC determined they had no need per the CSS/Profile, but they still were awarded a full Pell grant.</p>
<p>Good luck!</p>