I was wondering if I should complete the Gates Millennium Scholarship. I am already half way done, but I wanted a little clarification. I was recently accepted to UMich and I am instate. My parents make about 35,000 a year (7 kids, 1 already in college). Since UMich already meets the full need of instate students, is there any point to continue with the scholarship?
File the application and just let the process play itself out
The thing is, I don’t want to finish it unless I will be receiving something. If my financial aid package comes with work-study, do I have to do it or does Gates pay for it? Also, will Gates cover loans in the package?
Gates will cover all “self-help” aid. That includes Federal Work/Study and certain federal loans. Gates does not cover Family Contribution (assuming you have one). Gates covers graduate study in seven fields. There are other advantages to the Gates besides the money. Read the FAQs at the GMSP website for details.
@northernAZ Does Gates pay the full price for graduate study, or only what you need? Like, if I wanted to go back to get a masters or graduates degree and I am currently making $120,000, will Gates still pay the full price?
@AcceptableName In general, the Gates is a “last dollar” scholarship. There are caps for graduate study and they are different for public and private universities. It’s complex. Read this guide for Scholars as a start: http://www.gmsmentoring.org/uploads/2/1/9/5/2195645/gms_resource_guide_for_scholars.pdf