Local Scholarships and FA package

Paying for College
1

<p>I am trying to figure out what to advise my son to do regarding his second semester scholarships and tuition. I would appreciate your suggestions.</p>

<p>At graduation, he was very fortunate to receive five scholarships. The first, one for $250 was sent directly to his college during first semester. The second, a $500 scholarship, has been coming to him in bits and pieces. He has received $200 so far, with the balance to hopefully come to him soon. It will be used for books if and when it does arrive (the foundation is having financial difficulties). After he successfully completes his first semester, sends along his grades to his HS Guidance dept, he is due to be awarded a $2500, a $1000, and a $500 scholarship. They will pay either directly to him, or to his university. Those awards will cover a significant chunk of his second sememster costs. All of these awards are itemized on letterhead from the guidance department.</p>

<p>He attends a state university, which awarded him a $1190 University Grant, along with a tuition only scholarship (given to all state students who score competitively on state standardized testing, covering about 15% of the actual tuition-the remainder is fees), and his federal student loans. </p>

<p>What should he do? 1. Notify the FA office of the awards, which could affect his University Grant? 2. Wait for the reimbursement of the $4000 in scholarships from the local organizations and pay the tuition/room/board with those funds in February? I believe that tuition will be due in the beginning of January, and although we have the portion that we are slated to pay set aside, I wasn't planning on covering the $4000 that his scholarships are going to pay.</p>

<p>Thank you!</p>

2

<p>You need to check the policy at his school…every one I’ve checked has required the student to report all outside scholarships. They may or may not reduce his grant…many will cover any gap first, then give the student the choice of reducing loans or work study. Are you sure the HS is going to send a check payable only to your S? It seems like my kids’ scholarship checks were either sent directly to the college or had the school’s name on them!</p>

3

<p>Thanks, I thought he had to share that information. There is a gap even with the scholarships and loans. </p>

<p>The award letter from the HS guidance departement states: “Some scholarships are payable to recipients upon the successful completion of their first semester of post-secondary education and some have already been issued.” </p>

<p>I hope that he is able to keep his University Grant!</p>