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Eh, not so fast. </p>
<p>Michigan’s tuition has shot up $9000 in the last four years. A $20K scholarship would cover increasingly small percentages of total cost if tuition continues to rise. Although the OP reports that the merit aid at Michigan and financial aid at USC result in similar costs this year, the gap could widen if USC matches rising tuition with increased financial aid.</p>
<p>On the other hand, the financial aid package from USC requires examination as well. Almost no college will provide a financial aid package for more than a year at a time, so it is impossible to predict in advance. If your financial situation does not change, however, financial aid should cover roughly the same percentage of costs each year. Do you expect significant changes after this year? (A sibling graduating from college, a parent getting a new job, etc.?) It is also worth factoring in how many loans, if any, USC expects you to take out.</p>