Under Reed’s outside aid policy, outside scholarships reduce the student’s self-help awards (student employment and student loan) on a dollar-for-dollar basis.
For example, if a student receives an outside scholarship in the amount of $1,000, we will reduce the student’s employment by this same amount. If a student employment award is totally eliminated, any additional outside aid will decrease the student loan. Students are encouraged to apply for outside scholarships, with the understanding that their aid package will be adjusted to remain within a family’s calculated need.
Students may request in writing to reduce their student loan first, to keep their employment at the maximum legal limit, or to replace a need-based loan with a non-need-based loan. Only in cases where the outside scholarship(s) exceed the amount of self-help, will a student’s Reed Grant be reduced.
Outside benefits, such as employment-related tuition benefits or need-based federal and state grants, reduce the Reed grant first, then any awarded student employment and loan eligibility.