Follow up on Financial aid adjustments

binx
Mon, 07 May 2007 16:22:53 +0000

northeastmom – In the OP, the first list (“before”) contains a $28,000 grant. In the second list (“after”), that amount was reduced to a $14,000 grant – but it is still a need-based grant (I assume). What I meant was, since they are already “in the mode” to offer a grant for need, rather than a loan, then if the need should increase (which it will, if student loses his scholarship), then I’m thinking they may be predisposed to increase the grant.

Scholarships are often all four years depending on certain criteria. But grants tend to be need-based, and are therefore re-configured each year, based on your new income tax filing. So I would be inclined to go with the “known” scholarship, which is probably a four year deal, rather than the big grant that is need-based and can disappear if somebody changes the numbers in the formula.

I’m making some assumptions here - that the scholarship is 4 years, with reachable criteria. That the grant is need-based. That the school would be inclined to adjust the grant according to need, since they seem to be using the grant rather liberally. All these things require a reading of the fine print.

I can’t remember which school offered the adjustment of the scholarship, but yes, it was a definite amount. (All the non-chosen college stuff is in a drawer in the guest room, and we have a house guest at the moment, so I can’t check.) But I thought it was nice to have a second level of scholarship if the student didn’t maintain the required GPA. At most schools, you just lose it.

Speaking of scholarships, I saw the list of schools still taking applications. I was surprised by a few on the list that said no to freshmen and transfers, but yes to financial aid and housing. What’s up with that? For instance, I saw Davidson (NC) on there. Does that mean if my kid was going to Davidson, and I wasn’t happy with her aid package, I could appeal and have some hope?