Did your hard work pay off???

End of year check off list:

Exams - done

Graduation - YES, you did it!!!!

College award letters - got it – what does it mean?

Download the February issue of the MHS Counseling & Career Scholarship Newsletter – on the last page is an article from Fastweb.com “understanding your financial aid award letter” and a “quick guide to financial aid terms." Click HERE to go to the site.

Scholarship applications - did your hard work pay off?

You've received acceptance letters from the colleges - but now how to choose?  What will the final cost be? 

Financial assistance is broken down into sections. 

Merit Awards:  awards based on grades

Financial need:  The colleges use the numbers punched into FAFSA to put together your financial aid package.  That is broken down as:

College and state grants

Work study

Loans:  Subsided (government pays the interest until you graduate) and unsubsided (the interest starts accruing as soon as you accept the loan)

That makes up 100% financing.

Now you look and see there is still a balance – what do you do?

That is where all your hard work filling out scholarships comes in. 

Watch your mail.  You will begin receiving (if not already) correspondence from the organizations you applied to.  Read it carefully.  And promptly fill out the information requested and mail back.  If you dillydally you could forfeit the award.

Make sure you get the exact mailing address from your college that the check should be mailed to.  Just don’t put the college name and assume the scholarship committee will know where to send it.  Also, write your college student ID number on the correspondence.  It helps the college post the award to the proper account.

Make a copy of the award letter(s) you receive.  Write your college student ID number on the letters and with a cover letter explaining what you are mailing – forward the award letter(s) to the financial aid office of the college of your choice.  This lets them know that private scholarship checks will be coming – they will then post them onto your account as pending until the checks are received.

In reviewing your award acceptance letters – pay attention to how the checks will be mailed.

Some private scholarships will mail the entire award to the college – then it is usually posted in full to the fall semester or half in the fall and the other half in the spring.

Some private scholarships will send two separate checks.  Half the award in the fall and then the other half in the spring.

But – and this is where you need to make a note – some private scholarships organizations will forward part of your award in the fall but unless you send them either a copy of the college bill or copy of your transcript they will NOT forward the send half of your award in the spring. It’s up to you to remember!! So mark it on a calendar.

Now the most important part.

The majority of private scholarships organizations are made up of local people who volunteer their time to raise money to assist graduating seniors follow their dreams. 

Send them a Thank YOU note.  Such a small geture truly goes a LONG way.  Let them know that you appreciate their financial assistance.

Congratulations on taking your next step in your educational goals.