I got a scholorship to a private college. It gives me $25,000 a year and it is not my financial aid package it was awarded to me for my academic accomplishments in high school. I have acquired enough college credits to be admitted as a sophomore. So that means I will graduate in 3 years. Can use the 25,000 that I would’ve used in the 4th year to cover the remaining tuition expenses in the first few years?
Unfortunately, I doubt the college is going to let you use the additional funding from your 4th year. It will not hurt to ask the financial aid office though regarding the policies for that award.
No. The school will not GIVE you money. It will deduct $25,000 from your bill. No bill for a 4th year means no deduction.
My daughter earned a scholarship for her 3rd year for being #1 in her department. Since she already had enough scholarships and financial aid for the year, and had no room and board expenses (worked as an RA) she got recognition for the scholarship, but no money. She was actually handed a blank envelope at the awards banquet so that it looked “normal” with all the other awards handed out.
These things don’t seem all that fair from one perspective, but choose to look at it as saving $75,000 - which is a HUGE savings, rather than thinking that you are somehow losing $25,000 (which you are not, since there is no tuition expense).