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(How) does NMF affect financial aid?

eesachseesachs Registered User Posts: 59 Junior Member
Assuming I'm named a NMF I should get the half tuition scholarship, which I know isn't stackable with deans and I'm not eligible for most of the other merit scholarships. Therefore, how does the NMF Award factor into the financial aid I'll receive? Will it be easier to cover the COA because half of tuition is paid or will it just be proportional as if USC is cheaper? Using USC's FA calculator, I should have an EFC of about 5k or less. Does anyone know of the financial aid packages of previous NMF with similar EFC's?
Post edited by eesachs on

Replies to: (How) does NMF affect financial aid?

  • simonipsimonip Registered User Posts: 54 Junior Member
    The consent from CC is the scholarship will go to the college part. In other words, it will be used to cover the Estimated Gift Aid (in the net price calculator) first. If there is any left, then the balance will goes to cover your part - Work-study, Federal loan...etc. The concept is the scholarship is considered as the student income, which lower the need USC covers.

    However, I once emailed the same question to USC FA office some time ago. The ans was to put the scholarship in the "OTHER STUDENT RESOURCES", which in fact lower the EFC a lot.

    I am not sure which is correct. I believe CC is correct. Probably you may want to call FA office to find out, since you have been accepted (congratulations!). They may provide you a more concrete answer.
  • alamemomalamemom Registered User Posts: 6,384 Senior Member
    Hello!

    Hopefully I can help clear things up a bit - as always, I claim no inside information, just personal experience with navigating USC financial aid and 4 years of observing the results of finaicial aid applications here on college confidential.

    The conflicting-appearing information from the USC financial aid office is likely a result of semantics and the staff there not actually using the Net Price Calculator.

    Scholarships, both USC scholarships and outside scholarships, are considered a resource in financial aid calculations. That means that if they determine you have $50,000 in need and you are awarded a USC Presidential of $22,000, the scholarship is considered a resource and reduces your need to $28,000. Financial aid is then calculated on the lower amount.

    Those of us who have run the calculator have discovered that amounts we list in "Resources" do not reduce need and appear to refer to what the family has available to pay college costs such as savings, etc.

    The root of the conflict in information is probably that USC did not expect people who have already been awarded USC scholarships to be doing the calculator - it is meant for postential applicants deciding where they will apply (I still recommend using the calculator, just don't put your USC scholarships in the "resources" section).

    So to sum up, your USC Trustee, Presidential and Dean's scholarships will be part of the amount generated as "Gift aid." Technically, they won't reduce your grant, because USC will know about your USC scholarships them BEFORE calculating your grant and will just award the smaller grant to begin with.

    REMEMBER - the NPC estimate is just an ESTIMATE, and the calculators are still new - this is only the second year schools have been required to provide them - so WAIT until you actually get your package to celebrate OR complain :)
  • eesachseesachs Registered User Posts: 59 Junior Member
    Thank you both!
This discussion has been closed.