http://talk.collegeconfidential.com/financial-aid-scholarships/2184881-list-of-outside-scholarship-financial-aid-policies-stacking-scholarship-displacement.html gives some examples of how colleges handle outside scholarships with need based aid.
Note 1: scholarships from the college may be done differently.
Note 2: a college may calculate “need” and EFC differently from the FAFSA calculation, and may not “meet need”.