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Is it worth applying to outside scholarships?

The idea of your child taking on significant student loan debt right out of the gate is unsettling for most parents. Fortunately, theres a way to ease the burden: outside scholarships. Outside scholarships offer valuable financial assistance to help your child cover college expenses without accumulating debt.

Do you get notified if you dont get a scholarship?

Just as every organization that awards scholarships has their own qualifying criteria, they also have their own selection and notification process. Some scholarship administrators send notifications only to successful applicants while others send out award and rejection letters.

What happens if you dont report outside scholarships?

Federal law requires students to disclose all scholarships when federal financial aid plays a role in your aid package. If you dont report your outside scholarships, you may be required to repay the school or the federal government all or part of your need-based financial aid package.

What is an outside scholarship?

Outside scholarships are gifts that are awarded by external businesses and entities. Outside scholarships are similar to grants as they do not generally need to be repaid or earned through work. Award amounts, eligibility criteria and application procedures will vary by scholarship program.

What does outside scholarship mean?

Outside scholarships are gifts that are awarded by external businesses and entities. Outside scholarships are similar to grants as they do not generally need to be repaid or earned through work.