We had a great class this evening in Flowery Branch...two in a row! During this time we talked about outside scholarships. Many colleges love outside scholarships, but not for reasons you might think. Some schools let you keep your hard earned outside scholarship funds and apply it fairly to the total cost of attendance. Unfortunately, other colleges do not. Some colleges will "blend" these funds into your aid offer.
What does "blending" financial aid mean exactly? Basically, they apply the outside scholarship and substitute this money for funds that they would have otherwise awarded the student. Some colleges encourage families to apply for outside scholarships so that they can be "off the hook" from providing the funds.
There is a great article from U.S News and Word Report that takes issue with this practice. You can read that article here.