TX Common App - Scholarship "Funds" Question

AllThisIsNewToMe · 08-02-2009, 03:00 PM

My son was trying to finish his common app last night, but a question stumped us. It was in a supplemental "scholarship" part of the form. It said "How much money has been saved for college FOR you?"

We have 529's for both kids, but only enough for 1-2 years is saved in there. Then we have a general investment account from which I plan to pay the additional funds for both kids. So how should I answer that question? Just the balance of this kid's 529? Or add half of my general savings to that amount?

We know that we will not be eligible for any need-based scholarship, but are hoping for some merit money. Should we just have skipped this whole scholarship section?

thanks!

Youdon'tsay · 08-02-2009, 04:00 PM

Timely, as ds is working on that app and asked me the same thing. Technically, we have the Texas Tomorrow Fund in his name, but we're hoping to not use it, or at least not use all of it, and roll it over for his brother or let him use it for grad school.

swimcatsmom · 08-02-2009, 04:38 PM

I would just put the 529 account for that kid. That is what has been specifically saved for him.

Interesting that you are asked that in the scholarship section. I don't recall any questions like that when my daughter was completing the scholarship part of her applications (admittedly a while back as she is a junior

this year). Her major merit scholarship at her school was awarded without regard to need (before we even filed FAFSA). But they do have some scholarships that are both need and merit so maybe that is why they are asking?

missypie · 08-02-2009, 07:05 PM

The only state school to which my son applied was Stephen F. Austin. His SAT score was 200 points higher than their top 25% of scores (is that the 75th percentile?) They awarded him $3000 merit money without any special applications. Then he filled out an on-line application for a number of other merit scholarships. They asked financial information and he was truthful (knowing we'd never get need based aid.) The rejection letter he received said there were 2100 applicants but they could only give $ to the top 700. Now tell me, am I really supposed to believe that a student who is 200 points above the 75th percentile was not in the top third of scholarship applicants?! This leads me to believe that there is a need-based component to most of the merit awards.

AllThisIsNewToMe · 08-02-2009, 08:37 PM

Yes, I'm sure you are right and I think we'll just do as suggested (the 529 total). The section was called Scholarships and the first question said "Will you be asking for a need-based scholarship via the FAFSA form?". He answered "no", but maybe then it thought we were asking for need-based withOUT the FAFSA?

Thanks... we'll do the best we can. His ACT score qualifies for a scholarship (tuition + all fees) at LSU so that's probably where he's headed. I think to boycott the top 10% law we should ALL send our kids OOS :-).

Youdon'tsay · 08-02-2009, 08:53 PM

As a non-top 10%er, mine has as many OOS schools as in-state.