Scholarships: Should I Decline Them Now?

[ethanrt]

<p>I’m struggling with a dilemma right now: Should I decline some scholarships, or pull myself out of the running for some of the ones I’m a finalist for?</p>

<p>The situation: I’ve been accepted to three schools I’d love where my family wouldn’t have to pay anything, and I’ve won a $4000/yr scholarship that would make my expected yearly contribution very non-restrictive in terms of time spent working, etc. I’ve also been accepted into a school I’d love where it’s likely that my “EFC” will be large and no scholarship will reduce it.</p>

<p>BUT I’m still in the running for a few national or regional scholarships, including Elks, Lowe’s, and American Savings.</p>

<p>The problems:

1. A lot of scholarships don’t actually say whether they disburse to the student or to the college. If it was to the former, I’d definitely take it; if the latter was the case, the scholarships would generally not help me.
2. Some scholarships, especially from groups that give out awards per regions with differing funding levels, don’t tell you how much they’re worth! I wouldn’t mind winning a $1000/yr scholarship from the Elks to offset my very last expected student contribution at Princeton, but by the same token, I don’t * need * their $15,000/yr top scholarship (not that I think I’ll get it :-p ), so I don’t want to be a jackass and take that away from someone.</p>

<p>Advice would be appreciated, and I’ll probably “recommend” this thread since I doubt I’m the only one of this pretty-darn-smart-and-savvy community who’s in this position.</p>

<p>P.S. I have withdrawn my name from the applicant pool for institution-specific scholarships at schools I’m now sure I won’t be attending; * that, * at least, was an easy decision.</p>

[cmbmom]

<p>I would not withdraw from anything until you have made a final decision of where you go next year. Then do all the calculations and if you do not need/want the scholarship money you can notify the donors.</p>

[swimcatsmom]

<p>

A lot of scholarships don’t actually say whether they disburse to the student or to the college. If it was to the former, I’d definitely take it; if the latter was the case, the scholarships would generally not help me.

Just an fyi Whether it is paid to you or the school you are required to report it to the school. Any scholarships/grants over the cost of tuition/fees/books are also taxable so will appear on your tax return and on FAFSA. (which of course the school will see). Failure to report outside scholarships can lead to losing and/or having to repay financial aid.</p>

<p>[FinAid</a> | Scholarships | Outside Scholarship Policies](<a href=“http://www.finaid.org/scholarships/outside.phtml]FinAid”>http://www.finaid.org/scholarships/outside.phtml)</p>

<p>note the parts that say

An outside scholarship is any scholarship not awarded by the government or the school, such as a scholarship provided by a private sector company, philanthropist or foundation.

You are required to report any outside scholarships to the school’s financial aid office. If you fail to report an outside scholarship, you may be required to repay the school or the government all or part of your need-based financial aid package.

</p>

<p>Most schools have a form you must complete informing them of outside scholarships.</p>