<p>sort of, xiggi. What you say is very accurate in the majority of cases.</p>
<p>However, some merit awards CAN and often DO pay for some or all of the family contribution. That is why they can be much better than need based awards. </p>
<p>In the scenario presented above, if the student got a $20,000 merit award, it would actually be a LOT better than the $10,000 need based award…which would be lost if that $10,000 met full need.</p>
<p>As an example, my kid got a $10,000 merit award. Our EFC actually exceeded the cost of attendance. His merit award actually did cover $10,000 of our family contribution, </p>
<p>Most schools do not meet full need. There is a gap between the COA and family contribution…and aid. In those cases, a merit award can be used to fill the gap…which is a good thing. </p>
<p>In ALL cases, the amount of aid received cannot exceed the cost of attending the school…except in the rare cases when a student receives a FULL merit award from the college AND is entitled to the Pell grant as well.</p>