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So I have a decent scholarship that meets my needs, but in order to use it I have to fill out the FASFA. After filling out the FASFA worksheet I found out that I am eligible to receive the max Pell Grant.
I am split, should I take the aid even though I don't need it right now (but might later on), or should I take the road less traveled and turn my back on free money?
I certainly do not feel entitled to anything, and have always worked hard for what I have received, but this situation is a stickler. The worksheet is set up to provide aid to those that need it, and I filled it out perfectly, so does that mean that I need it?
Is your scholarship through the university? If so, the school may take the money. Look at the fine print on your scholarship. Is there a clause requireing you to accept any financial aid? Mine had one. I had to fill out an FAF form every year in spite of having a full scholarship and agree to let the school take any financial aid they could find. They managed to cover my full scholarship with aid 2 out of 3 years and covered 75% of it the third year.
07-25-2012, 10:03 PM
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n/a posts
Read the fine print, but probably accept the offer.
Fair warning though, you might get a letter from your university demanding some of the money back. When I was a freshman, I lived in the honors dorm so pretty much everyone had scholarships. A few weeks into the semester, we started getting letters from the university demanding that part of the money be returned.
Take the pell grant. Always take the pell grant. If you graduate with excess money and feel that you really don't need it, just donate it back to the treasury. But, I advise you to take the pell grant and if you have excess funds, use it to enhance your education experience (get private tutors for classes you're struggling with, whatever).
Take the pell grant. Always take the pell grant.
In case I wasn't clear... take the Pell grant.
My youngest had a roommate with (what sounds like) a similar situation. Here's a tip: fill out the FAFSA, take the grant, let the scholarship work out as it will. FWIW, most (that I'm aware of) scholarships at that level are set up to fund the balance, not as a full "grant" (until the Doctorate level).
I got scholarships, Pell Grants and state grants in excess of my tuition and fees every year that I went to school (I graduated in 2009). After tuition/fees came out of it the financial aid dept cut me a check for the rest of it. They called it a disbursement check. I could spend it on anything. I put it in the bank for living expenses. One semester I got a $4200 check. Usually it was around $1000.
YMMV
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