Scholarship Bummer

Parents Forum
1

<p>The good news is that D was notified today that she has won an external scholarship. Not a full ride, but would cover about 10% of Tuition, Room, and Board.</p>

<p>The bad news is that the scholarship can only be used for a school in our state and her final decision was out of state.</p>

<p>Had we known this last week, it may (or may not) have made a difference in a very close final decision in which college #2 was in state.</p>

<p>I guess she should just be honored, but move on... Oh well!</p>

2

<p>Is it worth a call just to be sure out-of-state is not an option?</p>

<p>All they can do is say no! :)</p>

3

<p>And maybe your D wants to reconsider where she’s going. If the in-state option was a close Number 2, maybe this changes the equation.</p>

4

<p>It may not be too late for her to change her mind.</p>

5

<p>Just got a call that D has won another scholarship that she can use. Not a lot of $$$, but we’ll take it ;)</p>

6

<p>This is not unusual. A lot of high schools/community foundations announce scholarship winners in May. It’s hard to see your kid “win” and then have to turn it down because they no longer qualify. But the donors will have chosen a back up choice and that kid/family will be very happy!</p>

7

<p>^^^ Yeah, I know. It is just a bummer to have to turn it down.</p>

<p>If we could just find a scholarship that paid in coffee, D would be set. :)</p>

8

<p>Bear in mind that if your D would have gotten financial aid in-state, this scholarship would have likely just reduced the amount of her aid, resulting in a lesser or no net financial gain. So perhaps her decision came out as it should have.</p>

9

<p>That’s one of the well-known, but only by people who have gone through this, facts. If you have any need-based aid at a Profile school it is usually reduced dollar for dollar by any scholarship you win (once loans and work-study have been replaced). So scholarship wins for students going out of state often don’t help as much as parents would like. They help the student by removing loans and self-help but don’t get rid of any parent plus loans, home-equity borrowing,…</p>

10

<p>^^^ That is essentially how Princeton handles external scholarships.</p>

<ol>
<li>Reduce work study</li>
<li>Reduce student’s expected contribution.</li>
<li>Reduce Princeton Grant, “lost funds may be recovered and used toward the one-time purchase of a personal computer”</li>
</ol>

<p>Unless one has a huge amount of external scholarship $, it really does not help the parent’s much, except the possible one-time computer purchase.</p>