<p>I know now that merit aid simply reduces your need. But this should be made clear on the websites where they list the merit awards, as somehow I missed this useful fact in a year of researching colleges. </p>
<p>It’s interesting that the RIG (research and innovation grant) awards don’t reduce need.</p>
<p>If we turn down student loans and instead take out other loans ourselves (home equity for example) are we penalized in our package next year?</p>