<p>lyrical, yes, merit aid is likely to affect your financial aid. Here are some senarios (my numbers are just approximations):</p>
<p>If, for example, you have an EFC of $20,000 and a “need” of about $30,0000 (based on approx $50,000 COA), you might get loans of $5,500 and work/study of $2,500 and a grant of $22,000. If you were awarded a Trustee scholarship of $37,000, your entire need of $30,000 would be covered and you would not be offered the grant or work/study. You would most likely still be offered a loan as mdcissp’s son was. In this example, your family would still have $13,000 to cover, but that would be less than the original EFC of $20,000.</p>
<p>Another example: If you were awarded a Presidential of approx $19,000, your original need of $30,000 would be reduced to $11,000. You would still get the loans of $5,500 and work/study of $2,500, but your grant would then be $3,000, leaving the original $20,000 EFC to be covered by your family.</p>
<p>At first it might seem frustrating that the grants are reduced because of the scholarships, but it is only because USC is so generous with financial aid that this happens.</p>