<p>Does anyone know how Emory in particular handles outside scholarships?
If they automatically reduce work study and loan, or if you are allowed to apply your outside scholarships to costs in the gap between fin. aid and EFC?</p>
<p>Also, how is Emory at continuing comparable grant / loan ratios over the 4 years? I have a good package, but since it isn’t merit based, they could take away grant and fill it up with loans the next year, right?</p>
<p>what a good question. someone please answer this! :)</p>
<p>orjr,</p>
<p>With the new Emory Advantage Program (e.g., Loan Replacement Grant & Loan Cap Program), there are significant changes that affect students differently based on factors such as financial circumstances, EFC, demonstrated need, amount of external scholarship awards, etc. Your best advice is likely to come from a financial advisor in the Office of Financial Aid, (404) 727-6039. Best time to call is early in their afternoon.</p>
<p>In the past, and I believe this still holds true today, external scholarships might reduce the amount of Emory/institutional grant funds if it exceeds a student?s demonstrated eligibility (which is based on individual factors, such as those mentioned above). Based on my daughter?s situation, Emory has been reasonably generous with how they treat external scholarships, as my daughter (she’s now a freshman) had a few outside scholarships that did not materially affect the Emory grant amount, but rather was applied against the “self-help” expectation. Again, because of the introduction of the Emory Advantage Program, I think that what took place in the past may be different now for how institutional need-based aid is allocated.</p>
<p>Regarding what you can expect in future years for grant/loan amounts, Emory makes it clear that your grant amount could decrease, and your Federal Stafford loan amounts will increase during your 4 years (Freshman = $2,625; Sophomore = $3,500; Junior/Senior = $5,500). This will depend on your financial circumstances; your demonstrated need and financial eligibility situation can change from year to year. Each year, you will need to re-submit your CSS PROFILE application, as well as to update your FAFSA form. You will also need to submit Federal Tax Returns and W-2 Forms for student and parent(s), though you will not need to do so for Non-Custodial parent after the Freshman year. </p>
<p>As I mentioned, your best bet is to call the Emory Office of Financial Aid. They really are helpful with questions, and only they can explain how your individual circumstances may affect the financial aid parameters that you qualify for. My experience is that they want to make it work for you. If you want to attend Emory, and it’s a matter of costs, talk candidly with them. They are not beyond considering extenuating circumstances that they may be able to assuage if warranted.</p>