Should I be nervous if D’s first choice said they were sending out a revised award notification? She received a large merit scholarship and they since received our financial info/documents (after the large merit). Is this standard lingo–possible adding need aid? Thanks.
Is this the first award letter that will include aid other than the scholarship? If so, no need to be concerned. This letter will include loans and other aid (if any) awarded based on the financial info.
Yes, first letter with aid other than merit. Thanks. Do schools ever decrease merit?
Yes, merit can be reduced. My daughter’s letter clearly said that if her gpa increased or decreased, the merit award would be adjusted.
Yes, whenever they have updated information like verification of income & tax information or received additional scholarship(s), they will revise your award notice. My D’s award notice was revised 4 times last year between March and August.
@billcsho thanks. Was it ever less or with each award it was greater?
Does it matter? It isn’t going to have anything to do with you. Just sit tight, you can be nervous all you want but you are just guessing. Distract yourself with crosswords or movies or something. Or looking for scholarships Jr can apply to. :))
Whenever you receive a merit scholarship, it would decrease you need. So they may adjust your grant/loan/workstudy accordingly before it starts reducing your out of pocket cost.
If you filed with estimated amounts and now you have more accurate amounts or sent the college updates, it seems you would know if your income and assets increased or decreased. Otherwise unfortunately you’ll have to just sit tight until you receive the adjustment. You probably won’t know the total picture (from all colleges being considered) for alittle while yet. Now is the time for you and if applicable your spouse to firmly understand what you can and can’t afford to pay in preparation for decision making time.
Just to cheer you up, the first revision we received after verification of tax information has changed the loan and workstudy amounts into grant. So good thing may happen even there is no change in data entry. Anyway, the award may not be final much later. You know some admitted students with financial aid offers may decide to decline the admission and the aids may be re-distributed.