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If you receive any assistance from an organization outside of the College, this aid must be taken into consideration in calculating your financial aid award. For this reason, you are required to report such aid through use of the Outside Award Response Form (PDF). The treatment of outside aid depends on the source as outlined below.
Outside Aid Awarded on the Basis of Student Merit
Outside aid awarded on the basis of merit will first reduce the family contribution to the lowest federally allowable amount. Once the family contribution is reduced as much as possible, outside aid will be used to reduce the amounts of need-based federal student loans or federal work study, whichever the student prefers, or both. If the amounts of the outside scholarship(s) exceeds the possible reduction in family contribution, loans, and work study, the outside scholarship will then reduce Smith Grant on a dollar for dollar basis.
NOTE: GEARUP scholarships are considered within this category as outside scholarships.
Student Financial Services must be notified of all outside awards. If you notify us by June 1, the aid will be reflected in your official award and on your first bill. If you notify us after September 1, the outside aid may be used to reduce Smith Grant dollar for dollar.
Non-merit Outside Awards
This type of award includes tuition subsidies based on your parents' employment, or state and federal grant assistance. These awards are not based on student merit and reduce Smith Grant eligibility dollar for dollar. Educational benefits from state and federal agencies will first reduce the family contribution to the lowest federally allowable amount, and then reduce the self-help components of the award (loan and work). Need-based loans from state or outside agencies can be used to replace dollar for dollar either the suggested federal loan or the work study award.
Outside Aid Treatment Example
Mary has been offered aid as follows:
Smith Grant $15,000
Suggested Loan $ 3,500
Campus Job $ 1,900
Total Aid $20,400
(grant aid = $15,000)
If she receives outside merit awards totaling $5,000, she could choose to use it as follows:
Total outside aid: $5,000
Reduce family contribution to federal level*: -$1,000
* This reduction varies depending on the family's calculated contribution.
Reduce loan to zero: -$3,500
Reduce job: -$500
Revised Aid Package
Smith Grant $15,000
Campus Job $ 1,400
Outside Aid $ 5,000
Total Aid $21,400
(grants/scholarship aid = $20,000)
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