As a result, there will be no impact on their eligibility for needs-based financial aid.
Her head and her heart were really into Columbia as her first-choice school, even though she intended to apply for need-based financial aid.
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If you're also applying for need-based financial aid, don't worry about private scholarships decreasing your award, says Keema Echols, president of the Kenaly Complement, a financial aid consulting firm for higher education institutions.
Too many financial aid programs are based on excellence rather than need.
StudentAid.com, which launched earlier this year, asks students for detailed financial information and their GPAs and standardized test scores to create detailed cost estimates for up to 10 universities, based on each college's financial aid award formula.
USC's calculator is meant to provide only an estimate of what a family might get in need-based aid, says Thomas McWhorter, the school's dean of financial aid.
Kelly Fox, chief financial officer for the Boulder campus, says the university awards most of its financial aid to Colorado residents based on need.
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This kind of financial aid is called academic merit aid, and few colleges offer it based just on grades and test scores alone.
The initial financial aid decision will be made based on the information provided on the FAFSA and CSS PROFILE.
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The school's financial counselors have shifted to a case-by-case approach to financial aid and to increasing the amount of merit-based scholarships available, she says.
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With a counselor's help, the school's financial-aid office pulled together enough assistance to keep him in the program, including a merit-based scholarship and assistance with federal loan applications.
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