<p>I think what happens is that first you are considered for merit aid if you apply before the Dec. 1 deadline. Then, your parent(s) have to file FAFSA and whatever else USC needs for financial aid. The financial aid office will see if you qualify for financial aid. End result can either be merit aid (first determination), financial aid (second determination), either merit or financial aid, a mix of the two, or no aid at all. In our case, my son was offered the Presidential half tuition merit scholarship, a small loan if we wanted it, and we have to pay the balance.</p>