<p>Does anyone know the best/official way of notifying USC of when you receive Private Scholarships? The Financial Aid package (from USC), as well as SIG and OASIS, make reference to informing USC if/when you receive outside money. My son has received two private scholarships (every extra dollar helps, if you know what I mean). We are planning to mail a copy of the scholarship letters to the Financial Aid Office - unless someone knows of a different preferred method of notifying them?</p>
<p>Only tell them if the scholarships require some sort of notification from USC!!! If not, then the more money USC doesn’t know about, the better.</p>
<p>I believe you could fax, e-mail, meet in person, or phone USC; you can use whichever method you feel most comfortable with. If you live in/near LA, you might want to make an appointment or at least set up a conference call so you can discuss how you’d like them to allocate the scholarships (hopefully be reducing your family’s loans). Congrats to your son & family!
When I’ve had contacts by USC by phone, fax, e-mail, or in-person at the admitted students’ reception, I’ve always been very impressed at how responsive & helpful they’ve been. You could always try setting up a meeting with them at Orientation & go over it with them then, as another option.
I believe you would risk your entire FAid package if you withhold info about receiving outside scholarships, so I would definitely be sure to inform FAid. I know if you only have MERIT scholarships & no FAid, you are entitled to keep all outside scholarships & your merit scholarships remain as they were when awarded.</p>
<p>If you only have merit scholarships what HImom said is true up to $6000 above estimated cost of attendance, after that you will start to lose money. If you have scholarship money that is above the cost of attendance it is considered taxable income and must be reported to the IRS.</p>