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Son received "Big Packet" yesterday. Wondering if Trustee, Presidential Scholarships still in play?

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Replies to: Son received "Big Packet" yesterday. Wondering if Trustee, Presidential Scholarships still in play?

  • NC MomNC Mom Registered User Posts: 813 Member
    Yes SoCalDad2, that is correct!
  • ShutterstockShutterstock Registered User Posts: 113 Junior Member
    If we ran the USC Financial Aid calculator and had an estimated price of about 16,000 (with 2500 of work study and 5500 in loans), could that be covered by a USC merit scholarship?
  • NC MomNC Mom Registered User Posts: 813 Member
    edited January 2014
    The scholarships come off your university grants not your family contribution or loans. Your EFC will stay the same unless you get one of the big scholarships and the amount you owe is less than your estimated family contribution. Alamemom can explain better how loans can be reduced. For my son, he has always had the student loans calculated in.
  • madbeanmadbean Registered User Posts: 3,236 Senior Member
    SoCalDad--you are right. A family who gets significant need-based grants will not benefit from the award of the merit based grant in the example you supplied--except.... the merit award is guaranteed for 4 years. In your example, if the family were to suddenly win the California Lotto 47,000,000 windfall, their student would STILL get all of their merit award for the full four years. The FA student would suddenly get bupkis. *Caveat: If you should win the 47 mil, please consider donating a building to USC. B-)
  • SoCalDad2SoCalDad2 Registered User Posts: 868 Member
    Based on the above, our son would gain nothing from a merit scholarship, and for him USC would be substantially more expensive than I thought it would be (going from marginally affordable to unaffordable). I had just assumed that a USC merit scholarship would reduce the loan and work-study in the same way that an outside scholarship would. Now I am not sure it would make sense to incur the expense (and missed school) to get him to USC for an interview.
  • camomof3camomof3 Registered User Posts: 846 Member
    If you read the very detailed financial aid sticky at the top of this thread, Alamemom has discussed how financial aid and merit scholarships work. It is very very common practice at most schools for merit scholarships to come off the grant portion of a financial aid grant. It is very unusual for schools to stack grants and merit, but some schools do, and some may negotiate this with a desired student.

  • madbeanmadbean Registered User Posts: 3,236 Senior Member
    It EFC is kind of an immutable number-- and while it is not easily affordable to many families--that is the figure they expect us to pay. Merit awards that are larger than the FA grants are helpful, of course, but merit awards at most schools do not stack on top of FA grants. So there is that. But, I caution a little patience. Until you see how FA is calculated at each college/university, it can be hard to pre-judge what the final costs come to be. You may find your S is bumped up to the top scholarship level (it's rare but around 7 or so report this happening each year on CC--and we are a very limited sample), and students are often offered additional merit scholarships (sometimes called University scholarships, some are given by department) around April 1. Of course, these will often be subtracted off any outstanding FA grants, so... And in addition, many many ccers in the past have successfully appealed their FA awards. None of this is a slam dunk, but until you get all your offers in hand, sit down with the numbers, and see what else comes in, it is often prudent to wait it out. I think the bottom line in costs is truly important, but it's not always transparent what it all ends up costing until the Financial Aid Lady/Merit Gods sing.
  • alamemomalamemom Registered User Posts: 6,384 Senior Member
    edited January 2014
    SoCalDad2 wrote:
    I had just assumed that a USC merit scholarship would reduce the loan and work-study in the same way that an outside scholarship would. Now I am not sure it would make sense to incur the expense (and missed school) to get him to USC for an interview.
    I strongly advise your son to make the trip and interview. As I and others (see madbean's great post, above) have mentioned, in April there will be many additional scholarships awarded, and we have seen the Trustee, Presidential and Dean's scholars receive additional scholarships that ARE applied to the loans. Not always, but often enough that I really, truly think it would be worth his while to attend the interview. In addition, there is the very small possibility of being "bumped up" to a Trustee scholarship - not likely, but every year there are a few who get that happy news.

    And please don't hurry a decision - the scholarships have been added as late as the 3rd week of April. Commitment deposits are not due until May 1st and I advise everyone to take their time in determining which school is the very best for them.

    Good luck!
  • SoCalDad2SoCalDad2 Registered User Posts: 868 Member
    edited January 2014
    Does anyone know when the Monday/Tuesday interview sessions conclude on Tuesday? I am wondering if we would have a chance of getting our son to his Tu/Th community college class that would start at 5:30 that evening (two hours from USC).
  • alamemomalamemom Registered User Posts: 6,384 Senior Member
    The interviews are on day #2 from about 9am to about noon. There is a lunch after the interviews - you could anticipate leaving by 2 without missing anything. His interview would be over by noon, so you could leave then if you had to.

    2-Day Explore Agenda:
    http://www.usc.edu/dept/admissions/web/explorehost/agenda1.html
  • SoCalDad2SoCalDad2 Registered User Posts: 868 Member
    ^^Excellent!
  • alamemomalamemom Registered User Posts: 6,384 Senior Member
    I JUST managed to locate the detailed agenda, and it concludes at 1pm - perfect!

    Here you go: https://esdweb.esd.usc.edu/resrsvp/docs/S_Explore_Agenda.pdf
  • CLSOF2014CLSOF2014 Registered User Posts: 27 New Member
    Thank you for all of the wonderful information, @alamemom -- so appreciated!
  • HI2014HI2014 Registered User Posts: 27 New Member
    @alamemom, @madbean
    Thank you for all the great information you continuously provide. Good luck to all those that are still waiting to hear.
    Do you know if they help with airfare at all? Do they provide hotel names of where the students and parents can stay?
  • meerkattmeerkatt Registered User Posts: 8 New Member
    Hello everyone! I live in Washington and I just received the big packet in the mail today :) I got accepted to the Global Health program at Keck but unfortunately I also didn't receive any scholarship information :( I'm ecstatic about my acceptance but since I don't qualify for any need-based aid, I doubt I'll be able to go without any merit scholarships…I guess I'll just have to wait and see if I get the Dean's!
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