Outside Scholarships

<p>Hopefully some current students or parents will have some insight on this...</p>

<p>I have received a few scholarhips outside of Vanderbilt. Vanderbilt's financial aid package offered a large grant and work-study program before I had reported any scholarships.</p>

<p>I assume I must report all scholarships to Vanderbilt, as they will be receiving checks directly from the scholarships funds every semester. How will these scholarships affect my aid?</p>

<p>Here's all I could find on the Vandy website:

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•As the primary beneficiary of a Vanderbilt education, you are expected to participate in paying for a portion of your college costs. Your financial aid package for the academic year will typically include an Academic Year Student Contribution. For most students, the Academic Year Student Contribution is currently no more than $ 2,500 for 2011-12.
•It is our initial expectation that you will cover all or part of your Academic Year Student Contribution from part time employment while in school. Employment information for both on and off-campus job opportunities may be found at: Office</a> of Student Employment<em>|</em>Vanderbilt University. Vanderbilt does not place or guarantee students employment. If you receive an outside scholarship it will be used first to replace or reduce your Academic Year Student Contribution before reducing Vanderbilt need-based assistance.

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<p>The way I'm reading this is the outside scholarships will first essentially contriubte the money that otherwise would have come from work-study, in an amount up to $2500. And all money after that is just subtracted from my grant. Is this the case? Can I still participate in a federal work-study even after that $2500 has been paid in outside scholarships or am I no longer eligible at that point?</p>

<p>Thanks. I'll be contacting finaid office on monday if necessary but thought I'd ask over the weekend.</p>

<p>Hey Pancaked, I'm in the same boat as you, and I believe you have it right. Any outside money that Vanderbilt gets first goes toward reducing student contribution/work-study. After that's been eliminated, it just reduces the size of Vanderbilt's grant. </p>

<p>I've seen this first-hand on my own financial aid package reports. My initial aid package had a grant of around $45k with a lottery scholarship of about $5k. Earlier this week, I received an update to my aid package and was informed that I would be receiving a scholarship of about $20k from a local endowment fund. When I analyzed my financial aid package, I noticed that they had just lopped off $20,000 from Vanderbilt's grant and replaced it with the scholarship money.</p>

<p>It kind of stinks to see your scholarships soaked up, but it does preserve Vanderbilt's endowment for future generations. I also consider it a good thing to have some outside scholarships since I can now just get a job and save the money for personal expenses instead of being expected to contribute a large portion of it to the school (though I may end up doing that anyway). Anyway, best of luck, and I hope to see you at Vanderbilt in the fall!</p>

<p>Hmm. Sure makes scholarships less exciting. But Vandy certainly does deserve the money, considering the discount they've given me. Thanks for the info!</p>

<p>you kids are amazing pulling in these other scholarships....good luck with it all, and congrats to each of you....you must be super interesting people and you will love Vanderbilt...which as you each state is super generous re financial need. My son's friends are amazing and you will love your new class mates</p>

<p>Thanks Faline, good to hear!</p>

<p>I echo Faline2 sentiments. Also it will help you to know that if your scholarship is lost (not that this should happen) that the funding will be made up in your financial package (provided you are in good standing and your financial status has changed much). Best of luck and I hope you have as wonderful an expierience as my children have had at Vandy.</p>