|By Dolce (Dolce) on Friday, August 15, 2003 - 09:15 am: Edit|
As we continue digging into this whole college and scholarship thing, I'm discouraged to find that, often, a school will apply outside scholarships toward their overall fin-aid package, leaving the EFC just as high as if the student hadn't bothered to earn outside scholarships. Is this really as common as it seems to me, or are some schools willing to allow outside scholarships to count as part of our EFC? It seems that if a local organization wants to give my son some help, they don't intend for it to be used to merely reduce the need-based aid that comes from the school. That doesn't end up helping my son one bit. Does anyone remember a letter that was posted here a while back, that can be sent to the college along with an outside scholarship, that deals with this very issue?
|By Mike (Mike) on Friday, August 15, 2003 - 01:32 pm: Edit|
I think I remember something about if you get the money as a direct gift instead of a "scholorship" then it may add to your income but only that % you have in your EFC (5% of assets go to EFC). Plus many colleges apply outside money to loans first so there is less debt at the end.
|By Dolce (Dolce) on Sunday, August 17, 2003 - 04:57 pm: Edit|
bump...does anyone remember that letter I referred to in the opening post?
|By Momof2 (Momof2) on Sunday, August 17, 2003 - 10:13 pm: Edit|
Yes. I surely remember it, but alas, couldn't remember anything else identifying about the post. It went something along the lines of "We, the XYZ organization, have awarded a one-time scholarship in the amount of $XX to Mr. Q, the most deserving of (#) applicants. It was our intent to honor and reward Mr. Q for his many achievements in the field of .... whatever throughout his HS career and to thereby help to lessen his financial burden in attending college. It is not our intention that our DONATED (this is important) scholarship funds be used to reduce financial aid previously awarded by the university to Mr. Q. We, the members of the XYZ, respectfully request that ABC University abide by our wishes in this matter. If you should need any additional information or wish to discuss the matter in more detail, please do not hesitate to contact the undersigned at (phone #).
That's my best recollection of it, anyway - if you can get Thedad's attention, I bet he could help out with this! Good luck and pardon any typo's - I'm cooking, too!
|By Thedad (Thedad) on Monday, August 18, 2003 - 02:27 am: Edit|
I recall more or less the same letter...but I was an interested bystander and don't recall where it was or who said it.
|By Dolce (Dolce) on Monday, August 18, 2003 - 10:56 am: Edit|
Thanks for replying. You did a pretty good job of paraphrasing what I remember of that letter. But like you (and Thedad) I just can't remember where it was. Does anyone know if scholarship checks are automatically made out to the college, or could they be made out directly to the student so that s/he could use it directly toward the EFC?
|By Thedad (Thedad) on Monday, August 18, 2003 - 11:47 am: Edit|
It should be in the archives, for sometime in the period January through April of this year.
Doing a search with some key phrases should turn the post(s) up.
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