@Mom2001
Do you think if you don’t include this money NOW but DO get it later, it won’t reduce your kid’s need based aid?
If so, you are likely…wrong.
If your kid receives this money, you will be required to report it to the college. It’s not like the college is going to ignore this if you report it later…and not now.
Please think of it this way…if your kiddo gets this partial tuition benefit, it reduces your actual financial need. It does.
Still…this is a wonderful benefit for your student especially if it’s for all four years…because THIS benefit is not income related. You are very lucky to have this…many folks wish they had a college tuition benefit for their kids through their company.
Need-based aid is, not surprisingly, based on need. If your child gets help with tuition from the employer benefit, there is less need, and therefore your child will be entitled to less need-based aid. Think of it this way: because of the generosity of your employer, the school has more money to spend to help other needy students.
You do have to report any money received as a scholarship or grant, and it may reduce any need based aid. This is true if the scholarship is from your employer or the Elks club or the Miss America contest. The difference here is you may already know the amount you will receive. If you don’t receive it, or the amount is different then the school may increase its need based aid.
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