<p>Our DD is blessed with a sum of money that will cover her four years of college (basically a educational trust established at birth). We were assigned a high EFC, and were given no aide. </p>
<p>She is interested in pursuing scholarships and saving money where possible in case she decides to attend grad school, and/or school turns out to be more money than budgeted (change in major, overseas programs, etc). If she simply spends the money, she will end up with nothing left and/or will run out senior year and need to start taking loans. </p>
<p>Her major is undecided, and she is a white Christian. We basically gave up on applying for scholarships for freshman year, figuring she had no "hooks" to offer and it would be a waste of time. She is our oldest and we are not sure where to go from here. Ideas would be very much appreciated! She is leaning toward doing "something" with kids, but not sure what.</p>
<p>So far, all I have come up with is suggesting an RA position or oncampus job to save money, but I would love more ideas! We were also thinking that she will be in a stronger position once she has declared a major. Thanks for any ideas</p>
<p>Since your D is already in college, then she has fewer options for finding merit scholarships. She can look at her major dept and see what they offer.</p>
<p>Most merit scholarships are from colleges and are for incoming frosh.</p>
<p>If your younger kids also have this money, then when they’re looking for colleges, they may want to consider applying to schools that will give them merit money as incoming frosh for their stats.</p>
<p>My younger one does also, and I think she will have an easier time getting an entry level merit scholarship as I would anticipate a more even profile (stats, grades,etc) and possibly a better idea of her major (she is just one of “those” kids). My older one got merit scholarships at two of the three final choice universities, but elected to go to the one where she did not get a scholarship. We talked extensively about the pros and cons, but there was a clear and dramatic difference to her and to us between choice 1 and 2/3, so she chose the one wehre she did NOT get a merit scholarship and will pay twice the tuition. With careful budgeting and part time jobs, she could concievably make it all four years, but I personally think she will run out the last year. I am certain that the vast majority of the people on this board complete college with some loans, but we (and she) would really like to minimize them. Technically, it is her money, so her choice. The only “hook” she has is her ADHD and her major, which is to be determined. We have encouraged her to go talk to her advisor and the finance dept after the first month of school and collect suggestions, but other than that, I need ideas! Personally, I believe that my on campus job was instrumental in my professional development, and believe it or not taught me several of the most critical skills for my profession. I am hoping that she has one small piece of the mentor that I had in college - he was amazing!</p>
<p>Most merit money is given by colleges in order to encourage desirable students to attend. Some schools have awards for upper classmen, but those are usually by major/department, so that rules out your daughter. Did you homeschool? If not, or maybe even so, you could check with the high school guidance office to see if they have any leads. The other idea for people with majors is to google the major and scholarships, but again, that won’t help you.</p>
<p>It’s unfortunate, but your daughter made her choice to go full-pay. As you said, loans are undesirable but necessary. Be glad she’ll only need them for her final year; most people aren’t that lucky.</p>
<p>You can run the numbers in advance, and do your best to determine how much she will need to borrow in total. If you file the FAFSA, she can borrow up to the Stafford Loan limits each year, and either use that money in that year, or stash it away somewhere for the senior year. She also needs to stay on top of any departmental scholarships that are available for returning students. Once she has a major, she can find out about that.</p>
<p>Right now, I’d simply encourage her to find a part-time job the minute she gets to college in the fall. Even if it is waiting tables on Saturday nights at a restaurant near campus, it will give her some money for her personal expenses that she won’t have to draw from her larger college fund.</p>
<p>Those are great ideas. I think she should probably call financial aide before she gets to school, or do research about the Stafford Loan. Thank you so much - I love this board!</p>