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returning to school

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poz91:

--- Quote from: idee on December 05, 2012, 02:42:07 PM ---I have financial aid and was just looking into scholarships because everyone my Husband talks to suggests I go after one. I really am not sure what I would use the money for yet considering I don't start until January 22nd of 2013. I am thinking gas and new breaks on my car. But I am not sure if that is what I should use it on.

--- End quote ---

If you're already on financial aid, scholarships might be somewhat of a moot issue... from what I understand, and I could be wrong so don't take this as gospel, but any monies you receive in scholarships will affect the amount you qualify for under FSA dollar-for-dollar.

For example, if you qualify for say $5,000 in assistance and you receive a $2,000 scholarship, you would only receive $3,000 in assistance. The total amount of financial aid (assistance + scholarship) would still only be $5,000.

Again, I don't want to steer you wrong... I could be misinformed, so speak to a financial aid counselor or check your school's financial aid FAQ page online.


* here's an article I found discussing the situation

http://www.moneyeconomics.com/Educational-Finances/Outside-Scholarships-101-How-they-affect-your-financial-aid-package

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