When should I use my one time only scholarship?

<p>As a senior, I was the lucky recipient of a $3,500 scholarship that will be put towards any university of my choice AND I have up to four years from the time I start school to put the scholarship to use. My mother initially put down on my financial forms that we were going to plan on using the scholarship this fall for my freshman year (2012-2013 school year), but my father isn’t so sure that we should use it my first year at school. My sister will also be in college my sophomore through senior years, and my dad has heard rumors that if you use a scholarship freshman year, that often times your financial aid will be less in future years because the school expects you’ll have that money to contribute, even if the scholarship is only a one-time thing, as mine is.</p>

<p>My main question is, should my family and I really plan on using those $3,500 this year or should we try and find another way to pay that portion of my fees and hold off on the scholarship for a different year in college?</p>

<p>Do you actually have a FA award for next year? If your college is filling some or all of your financial need there is a good chance the scholarship will just offset some of the award from the school. And FA is based upon income and assets. Each year it is recalculated so a one time scholarship will not affect next year’s aid.</p>