HELP: Single Institution Merit Based Full-Ride Scholarships and FAFSA

Paying for College
1

<p>If you receive a merit-based full ride scholarship to just one college (i.e. an institutional scholarship), and you decide that you don't want to go there, do you still have to report the value of that massive scholarship on your FAFSA and other finical aid materials? </p>

<p>Last fall, one of my teachers nominated me for a full-ride scholarship (tuition, room and board, plus a stipend) to a university that I really don't want to go to, without asking me first. Since last fall, I have been accepted into other schools that I would REALLY like to go to (i.e. MIT, University of Chicago, plus some others that I have yet to hear back from), and although I don't know for 100% certain where I want to go to yet, I really don’t think that I want to go to this one college that offers this insanely generous scholarship.</p>

<p>Financial is going to be a HUGE deal for me, and I am starting to get really scared that if I don't drop out of this institutional scholarship competition, that I'll ruin my changes for aid at other schools. I hadn't decided yet if wanted to drop out of the scholarship competition or not as of a few days ago (I still had a few days before I had to RSVP), but the college called my house (while I was not home), telling my parents that they ALREADY purchased a plane ticket for me so that I could come the campus for the final lag of the competition. </p>

<p>I just feel so awful now. This college that I don’t really want to go to just spent $400 on a plane ticket for me, so now I feel like I have to continue pursuing the scholarship. STILL I would cry for days/months/weeks/years/eons on end if I got this scholarship, decided that I would rather go somewhere else, and not be able to afford to go to a place like MIT. </p>

<p>I know I must sound like a prat, but I’m really distressed…. Someone? Anyone? How does receiving these "full-ride" scholarships to places that you don’t end up going to affect financial aid for other schools?</p>

2

<p>Getting a full scholarship at one school should not affect your chances at FA at another school. Also, if you drop out of this scholarship contest, again, it will not affect your chances for FA at other schools. They are all independent of each other when it comes to money and how they dole it out.</p>

<p>What is your EFC? MIT,for ex,does meet 100% of your financial need. Would you be able to meet at least your EFC?</p>

<p>Have you seen this other school? If not, take the trip. You may find out that you really do love it.</p>

<p>If you truly could not see yourself going to this school on the other hand, then drop out of the contest and give someone else a fair shot.</p>

<p>Good luck and try to stop worrying so much. You obviously have a good conscience and are struggling with the proper decision.</p>

3

<p>Also, if you enter any scholarship contests that are not institutional based (say, something on FastWeb or a corporate scholarship), you do not have to report that scholarship to anyone until you actually win it. Entering the competition or being eligible for a scholarship also has no effect on your financial aid award until it is really yours.</p>

4

<p>You have to RECEIVE the money from the scholarship monies for them to be considered on the finaid forms, and then only the portion that is in excess of tuition, fees and books. </p>

<p>If you were selected for a scholarship but NEVER got the money, it doesn't get noted anywhere. FAFSA and PROFILE care about money you have received....not money for which you were eligible but never took.</p>

5

<p>Fafsa and Profile are a year behind - so money received before January 1st of 2008</p>

6

<p>Yes - they do not care about scholarships awarded, offered or won. Only the money you have actually received during the tax year.</p>