I think based on the language in the letter we got for the scholarship that they do adjust. Meaning if your financial need is $28K and you receive the 1/2 scholarship of $26K, your financial aid will be $2,000. PLEASE NOTE I may be very wrong about that, it’s just how I read it. We did not apply for financial aid so I am not looking at anything other than the scholarship letter. Also, the scholarship notification will come based on when USC gets your childs name from NMF. As I said above, my S was in the first batch because USC was listed with NMF way back before March 1 when the first group of names are transmitted. I don’t know if it will appear on your financial aid reports or not–would be nice if it was all in one place.