Reallocating Financial Aid

[JuanitoBobo]

Hi,

So I have an outside scholarship that will cover full tuition at Fordham but this excludes housing. When I got my Fordham financial aid package, I originally had a Loyola Grant and a Need Based Grant from Fordham. This totals $27,000.

I want to use my Loyola Scholarship to cover my room and board and then I want to use the rest of the scholarship money on tuition. Is that possible?

[sybbie719]

@Fordham

The Loyola scholarship

These scholarships are awarded to entering traditional freshmen and transfer students who show high academic performance and leadership ability and have not been offered one of the scholarships described above.

the Loyola Scholarship ranges from $1,000 to $12,000, which will be** applied toward tuition charges[/b[ for courses taken as a traditional undergraduate student at Fordham

https://www.fordham.edu/info/21251/fordham_scholarships_and_grants/2532/scholarships_for_us_citizenseligible_non-citizens

there is no reallocating of the Loyola Scholarship because it can only be used for tuition. In answer to your question, no you cannot reallocate the funds. Also remember, room and board are not qualified educational expenses. Any scholarship monies that you receive to cover room and board will be taxable income.

[TomSrOfBoston]

You will need to report the outside scholarship to Fordham. It may result in your need based Fordham grant being reduced.