<p>With all merit offers read parents and students must do their due diligence and ask about the fine print when it comes to keeping the merit $$</p>
<p>Is it automatically renewable for the next 4 years?</p>
<p>Is it attached to staying with a specific major?</p>
<p>Is it renewable for the same amount of money each year?</p>
<p>Is scholarship adjusted to take into consideration tuition increases (about 5% per year)</p>
<p>Is there a gpa requirement needed to keep getting the money?</p>
<p>When does the gpa requirement start (by the end of fall term or the end of spring term)?</p>
<p>Is there a phase in to the gpa requirement?</p>
<p>What happens if you do not meet gpa requirement, does money leave immediately or is there a grace period?</p>
<p>If you lose scholarship and bring your grades back up is money reinstated?</p>
<p>What percentage of students lose their scholarship?</p>
<p>Ask the financial aid office what percent of students lose their merit money in the first year.</p>
<p>And the most important question… worse case scenario if you were to lose the scholarship would you still be able to swing the cost of attending?</p>
<p>for ex: Howard also has no phase in gpa to keep their merit money. The term that you do not meet the requirements for keeping the merit $$ is the last term that you receive the merit money (and you do not get it back).</p>