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Accepting financial aid? When?


Hilltopmom
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Are you talking about a merit aid scholarship or need-based grant? 

 

For the scholarships, I know they encourage you to accept it early, but this does not commit you to the school. Both of my kids 'accepted' scholarships at more than one school before making a final decision. 

 

I don't have experience with need-based grants, but I would imagine it is the same, because the school cannot require a decision before May 1, unless you apply early decision. 

 

 

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I would accept it if even considering that school

you can always turn them down later

 

in fact one of the schools my son was interested in said to accept any scholarship offer and then decline it later if you decide to go elsewhere

Aid and acceptances are "rolling" but you need to accept the aid in the "offer" window

 

 

 

 

 

 

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Do be careful.

 

My son received two merit aid offers that had a time limit. He had to accept it by such-and-such a date (BEFORE APRIL 1!!!!) or it would become null and void.

 

The colleges do this so if a student does not accept the merit aid it can be offered to other students.

 

I would be reluctant to accept an offer unless I were actually planning on attending. JMHO

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Do be careful.

 

I would be reluctant to accept an offer unless I were actually planning on attending. JMHO

 

I sincerely ask why?  DD has accepted scholarship offers at three different universities and is pursuing the requirements to be eligible for a full-tuition scholarship at the community college.  She hasn't decided where to attend and has until May 1 to make that decision and notify the schools.  If they choose to have scholarship/financial aid acceptance deadlines before May 1, they know there will be students who accept and then go elsewhere.

 

We actually had to really hustle to accept one scholarship that gave her only a few days after notification to accept, the acceptance couldn't not be done online (U.S. postal mail or fax only!), and we were about to head out of town on vacation.  This was in early December, when the APPLICATION dates for this scholarship were still open. 

 

If schools are going to be this big of a pain, I have no qualms about accepting the offers and then making the final decision by May 1.

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Part of the package is his Stafford loans and it doesn’t make sense to me to accept them at different places, so I guess I’ll have to call.

 

Oh, just saw this part. I would wait to accept the Stafford loans. Definitely ask about that.  Those should be available to the student even well into the semester.

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Do be careful.

 

My son received two merit aid offers that had a time limit. He had to accept it by such-and-such a date (BEFORE APRIL 1!!!!) or it would become null and void.

 

The colleges do this so if a student does not accept the merit aid it can be offered to other students.

 

I would be reluctant to accept an offer unless I were actually planning on attending. JMHO

 

No, it is absolutely kosher to accept a scholarship offer before your final decision. The school can require you to accept a scholarship early, but all that means is "yes, I am still interested in your school, please hold that money for me." It does not in any way bind you to attend, because the school can NOT require a decision before May 1. 

 

If you wind up declining, they can offer that money to someone else. 

 

A student should never, ever leave money on the table because they haven't made a final decision yet. And a student should never, ever feel pressured to attend a school because of an early scholarship offer. Decision day is May 1 because that gives students a chance to compare all of their offers, while still giving schools time to plan. 

 

You can also apply for housing before your final decision, if you are willing to risk your deposit. 

Edited by katilac
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No, it is absolutely kosher to accept a scholarship offer before your final decision. The school can require you to accept a scholarship early, but all that means is "yes, I am still interested in your school, please hold that money for me." It does not in any way bind you to attend, because the school can NOT require a decision before May 1.

 

If you wind up declining, they can offer that money to someone else. 

 

A student should never, ever leave money on the table because they haven't made a final decision yet. And a student should never, ever feel pressured to attend a school because of an early scholarship offer. Decision day is May 1 because that gives students a chance to compare all of their offers, while still giving schools time to plan. 

 

You can also apply for housing before your final decision, if you are willing to risk your deposit. 

May 1 is National College Decision Day.

I agree in but the schools seem to use available housing and other items to help "coerce" students to make them decide earlier.

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May 1 is National College Decision Day, 

I agree in but the schools seem to use available housing and other items to help "coerce" students to make them decide earlier.

 

In their defense, it's just a fact that you are more likely to get housing, or better housing, if you apply early. But sending in a housing deposit does not obligate you to that college. You can lose some or all of the deposit if you don't go there, so it's not like you want to do it with numerous colleges, but certainly it can be worth it should you be wavering between a couple. 

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Schools who do not subscribe to the Candidate's Reply Date Agreement may force a decision before 1 May (we are in that boat, so I checked this out).  

 

Wow, how do you know? I mean, how would you discover this about a school? Do they mention it in the acceptance letter, or otherwise make it obvious? 

Edited by katilac
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Wow, how do you know? I mean, how would you discover this about a school? Do they mention it in the acceptance letter, or otherwise make it obvious? 

 

Most of the colleges mention "complying with" the national date, or use similar language.  I haven't found a list anywhere.  

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We were also told that my ds had to reply before May 1st  a few years ago, or he would lose his spot in a very competitive program. I made some phone calls. I can't remember who I called, but I found out that not all colleges are held to the May 1st deadline.  The interesting thing is that the college told us that he would lose his spot, but when I called this national association, they assured us that this particular college would have to accept him into that program until May 1st. I  think it might have been The National Association of College Admissions Counseling. 

Edited by suzanne4
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