How is the scholarship allocated?

Paying for College
1

<p>Hello,</p>

<p>I recently received notice that I’m a recipient of the Buick Achievers scholarship for the full amount of $25,000. I currently attend a university with a COA of about $56,000 including R&B. </p>

<p>I earned a $23,000 merit scholarship upon admission and my FASFA has grants and loans covering the rest. I’m from a single family household, so my EFC is extremely low (almost zero, I think).</p>

<p>The Buick Achievers program amount exceeds the amount not covered by tuition by about $3,000 every year. I also qualify for about $2,500 in work study every semester.</p>

<p>Does anybody have any insight on how the scholarship is allocated? Will I be receiving a check in the mail?</p>

2

<p>This all depends on the terms of the scholarship and the rules your school has about outside awards. You need to read up on how this prestigious scholarship works in terms of payment to the school or does the check go to you, etc, etc. Different awards have different rules.</p>

<p>Then you also need to look at how your school allocates outside scholarships. If your school is a PROFILE school, your need is defined by their own rules, not by FAFSA EFC. It is entirely possible to have a zero FAFSA EFC and have no need as defined by a school. Also, you need to look at the rules of the merit scholarhship that you have.</p>

<p>Usually, and again, this is just a rule of thumb, you can keep your merit scholarship even with an outside award, and it is possible to come out ahead with in pocket money in cases where your costs are less than all of your scholarships. However, if you have grants and loans from the government, there are stipulations about them. I believe your PELL, you can keep regardless. However, loans, work study and other need based money will usually be withdrawn if you your need is no longer there. The way a lot of schools I"ve see, do it is basically take your need and reduce it by the grants and get a new need figure which is then met by whatever grants, loans and workstudy available. PELL has its own set of rules and I believe you can get that regardless.</p>

<p>The school will have rules saying you have to report the scholarship. If it goes directly to the school, the way it works is that anything direct billed by your school, such as tuition, fees, room, board will come off your account which will have the credits from your merit award (usually distributed by term, so half the amount will be on your account in the fall). If any access is left, you can request that it be given to you, so you can use it towards books, transportation, supplies, miscellaneous expenses. </p>

<p>But you have to contact Buick Achievers and ask them how they distribute the award. To you or to the school? The full amount or half for first term, then half for the second. </p>