How will outside scholarships affect my financial aid package?
Historically, many Vanderbilt students have been very successful in obtaining outside scholarships/sources of assistance. These outside scholarships/sources of assistance must be taken into account as part of a student’s total need-based aid package and cannot be counted as part of the Expected Family Contribution (EFC). If an adjustment to a need-based financial aid package is necessary, the outside scholarship will be used first to replace a student’s earnings expectation before reducing Vanderbilt need-based assistance. If you are receiving some form of outside scholarship or outside assistance (such as employee tuition assistance or state grants), you should download the Outside Scholarship Form from our website at http://www.vanderbilt.edu/financialaid/outside.pdf. • What if my outside scholarship does not arrive in time to meet the tuition deadline? Vanderbilt encourages students to apply for outside scholarships and we will add to add these funds to the financial aid package. Ho
Based upon past experience, we anticipate that many of our first-year undergraduate students will receive outside scholarships or other gift assistance to help fund their educational costs. Any outside scholarship(s) must be taken into account as part of your total need-based financial aid package, and cannot be counted as part of, or as a replacement for, your Expected Family Contribution (EFC). If an adjustment in your need-based financial aid package is necessary, the outside scholarship will be used first to replace an equivalent amount of academic year and/or summer earnings expectations. Receipt of outside scholarship funds may sometimes result in a reduction of other grant/gift funds, but such reductions will be made only as a last resort and only if no other options exist.
