May 1 College Commitment vs. Subsequent Scholarships

sybbie719
Tue, 27 Mar 2018 16:56:08 +0000

Also keep in mind that outside colleges will most likely not reduce your EFC . Please do not think that the outside scholarship will reduce what you will have to pay out of pocket.

Most outside scholarships, will
reduce the unmet need (gap)
reduce the self help portion (work study, subsidized loans)
reduce the unsub loan
reduce the institutional need based aid

if the outside scholarship covers all of the above costs, then it will reduce your EFC

I agree with the others, consider the affordable option, should you not receive the outside scholarship.