Am I supposed to report a $500 scholarship I received?

Paying for College
1

<p>I received a $500 scholarship a few days ago and it was in the form of a check that I've already cashed. Am I supposed to report this to my college?</p>

<p>Am I supposed to include it anywhere on the CSS next year?</p>

<p>Also, I received a similar $200 scholarship (in the form of a check again) last year, but forgot to include it on the CSS. Was I supposed to? If so, what should I do now, contact the finaid department?</p>

2

<p>Yes, you should report them to your school ASAP.</p>

3

<p>Will I get in trouble for forgetting to report the $200 one?</p>

4

<p>It depends on the schools.</p>

5

<p>I’m going to USC</p>

6

<p>If I do get in trouble, what kind of trouble would it be?</p>

7

<p>Getting rescinded trouble, losing all financial aid trouble, or losing $200 from my financial aid package trouble?</p>

8

<p>Someone please respond, I’m panicking right now! Please!</p>

9

<p>[USC</a> Financial Aid - Grants & Scholarships - Undergraduate - Outside USC Scholarships](<a href=“http://www.usc.edu/admission/fa/grants_scholarships/undergraduates/outsideusc.html]USC”>http://www.usc.edu/admission/fa/grants_scholarships/undergraduates/outsideusc.html)</p>

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<p>Since it looks like USC will not reduce your need based grants, but reduces loan first, it will be to your advantage to report the scholarships to the school.</p>

<p><a href=“http://www.finaid.org/scholarships/outside.phtml[/url]”>http://www.finaid.org/scholarships/outside.phtml&lt;/a&gt;&lt;/p&gt;

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10

<p>But that’s for scholarships received after the initial financial aid award is calculated. What about scholarships I forgot to report? Would I get rescinded over that?</p>

11

<p>You can still report your outside scholarships.</p>

12

<p>What about the FAFSA? Was I supposed to report those $200 on the FAFSA?</p>

13

<p>

No, you don’t have to report any tax-free scholarships from last year.</p>