<p>Not sure how to word this situation. Our EFC is 0 so daughter qualified for pell grant as well as many federally funded loans. Her college covers all expenses for students with family incomes less than X. So....all expenses are paid through their program and her pell grant. This is awesome! However, she's worked diligently on her grades and her community service and has won numerous sholarships, most are renewable. Since she's going to a state school, she could meet all her expenses this year with the pell and these scholarships, or close to it. Now, these foundations want to see her financial aid award letter, to know whether to give her the amount she's won. If I thought our financial situation would remain the same the next four years, would be satisfied just allowing the school to cover all costs and not worry about these scholarships. But should my income improve.........she may not be eligible later years and would lose opportunity to renew these other scholarships.</p>
<p>Sorry if this is confusing...not sure how to handle it. When I contacted the financial aid office at her school, they weren't much help. You'd think they'd love to be in a position to have to cover all expenses and have that student meet their own needs.</p>
<p>I am not sure how this works -- so double check with the FA office, but my understanding is that all scholarship awards were to be reported to the FA office of the college. At that time, the FA office will refigure your student's need. If they got $10,000 in scholarships -- then their need will be $10,000 less than before.</p>
<p>The FA package will then be adjusted for the new need level and a new letter sent out -- you would then give that letter to the scholarship people.</p>
<p>She hadn't won any awards at the time the financial aid info was submitted....and at the time she complete the scholarship application process, she hadn't been admitted to any school, nor had their financial aid award.</p>
<p>My DS won several scholarships after his initial financial aid application and award from the college. We had to provide them with a list and then they updated his financial aid package accordingly.</p>
<p>Any time a student finds "outside funding", even if they have already started school, the FA office is supposed to be notified so that their award can be modified to stay within Federal Regulations. My advice would be to call the FA Office first thing Monday and apprise them of all the scholarships your child has won.</p>
<p>I've already told the school of these scholarships...........financial aid director was more like...."we've already covered her. the foundations can give their money elsewhere."</p>
<p>I think, from rereading Momrays post, she is trying to figure out if it is worth pursuing the scholarship her daughter has won as the foundation awarding it wants to see her financial aid award letter to see if she is still eligible for it (I assume there is a need element) and she already has most of her expenses covered by by other scholarships and federal grant money.</p>
<p>If I am reading the question correctly my 10 cents worth would be to say yes go for it. You have more to gain than to lose. They may look at your financial aid letter and decide she is no longer eligible but you will have not lost any other aid in the process. Or there may be loans or work study (though i got the impression those are already replaced by other scholarships) awards that they will go ahead and give you the award to replace. And, as you said in your original post, you have no way of knowing if your financial picture will be different in future years so renewable scholarship money is better than need based grants in that case. </p>
<p>If I am misunderstanding the question just ignore everything I just said ;)</p>
<p>Exactly swimcatsmom..........she is getting need based grants in full from the university's endowment fund, but if our financial situation improves dramatically, which it may, she won't be eligble. If she receives theses renewable scholarships, she'll continue to receive them as long as she meets the criteria. </p>
<p>I assume by bet course of action is a letter to the scholarship board, explaining our situation. And even if the amount isn't awarded this year, can she still file for it subsequent years. And prayer it works!</p>
<p>momray -- I know exactly what you are saying. You want to keep the scholarships (since they are not need-based) and turn down that amount of aid from the school.</p>
<p>Did the school package include any loans and/or work-study?</p>
<p>I think, if it were me, I would start by writing a letter to the FA department and ask that your FA package be adjusted to you new, lower level of need. It is strange that they don't seem to do that -- it is standard procedure for most schools. I would ask the school -- formally, in a letter, with details on what you want -- before I would ask the scholarship committees (they are more likely to award it elsewhere).</p>
<p>Have you talked with the head of the FA department or just someone you get on the phone?</p>
<p>If the scholarship committees are telling you they need the letter ASAP, ask for an extension -- many kids are still working out the details of their FA and it wouldn't be unusual for kids to not have a solid FA package worked out yet.</p>
<p>I would be a little scared to have the FA package reduced before I knew for sure the other scholarship was a certainty. Something of a balancing act here. Good luck.</p>
<p>I thought the scholarships were a sure thing -- and since they aren't based on need, they are a sure thing for the whole 4 years.</p>
<p>It is standard for schools to adjust their FA packages for outside scholarships -- thus reducing the package. It really shouldn't be an issue of any kind.</p>
<p>It may not matter in the long run. If your situation changes, and in 1-2 years you have an EFC of more than 0, the outside aid will just reduce the other aid, and generally does not reduce the EFC.</p>
<p>Now, if in the future the college/university changes some of her aid from grants to say, work study, it would help to reduce the work study. And if the FA from the university includes loans, yes you can replace dollar for dollar the foundation scholarship instead of loans.</p>
<p>I think you go for it and get "all" of the scholarship money available to her, even if some of it is just on paper. Once you do, the foundation and the FA office will coordinate.</p>
<p>I find it odd that the FA office did not encourage you to continue with efforts for outside scholarships. For every dollar you earn ourside of their FA, it is more money they have to save/to spend on another student. And scholarship dollars would trump any loans.</p>
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I thought the scholarships were a sure thing -- and since they aren't based on need, they are a sure thing for the whole 4 years.
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How I wish this were true!! It is quite a shock to find out you cannot apply for what appears to be an "academic scholarship," because, as it turns out, it is awarded only for someone who is financially needy. Or worse, to "win" one only to find out that you won the award, but not the "dollars" that go with it, as you did not have the financial need; or your other aid was lowered dollar for dollar by your scholarship.</p>
<p>I too, was shocked the school wouldn't rather she "pay" her own way and let their monies go else. But it was the director of financial aid who told me the scholarships may not happen.</p>
<p>The scholarships are varied...some on need, some on merit. It seems odd that they end up qualifying it after a lengthy process. She's been working on some of these since October. </p>
<p>Thanks so much for the help....another thread gave me an idea. Cost of attendance -vs- just tuition, room, and board. And financial aid letter is based on 2006-07 costs and will be adjusted. I can complete the paperwork and it looks like a good size deficeit.</p>
<p>
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Thanks so much for the help....another thread gave me an idea. Cost of attendance -vs- just tuition, room, and board. And financial aid letter is based on 2006-07 costs and will be adjusted. I can complete the paperwork and it looks like a good size deficit.
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Yes, yes. Books, travel expences, food costs above just a meal plan, any lab fees, extra university fees for health insurance. Look for every dollar that is above tuition/room/board that goes to cost of attendence. And you want any scholarship dollars to come in that will reduce loans or work study. If loans are in her FA package, keep doing the scholarship paperwork. You will end up becoming more knowlegable about certain aspects of this than some of the FA staff, trust me.</p>
<p>While she won't end up with money that she can pocket, the scholarship money could be more valuable than any loan as part of her FA. And as long as the scholarship foundations or you communicate with the FA office about additional awards, you will be fine. Adjustments will be made.</p>
<p>It just gets a bit more complicated.....Daughter just won another scholarship from the local builders association. We are so proud of her. Not sure howit's going to work her getting theses scholarships. The college needs very little in the way of grant money for her.</p>