I have some questions. My son has received a 40,000 dollar scholarship.
That will pay for his 4 year studies at U.C. He was accepted into their nursing program. They will aso pay for dorm living , if he needs it in the 4 years. But we live within 15 minutes of the college. I don't think he will be needing that.

He has received 5,928 dollars in grants from the school. Will the school now take away these grants because he has received this huge scholarship?

He also applied for 2 additional scholarships.
I am wondering if he needs to back out from the other scholarships so that some of the other kids have a better chance of receiving them. I know one is worth 500 hundred dollars and I am not sure how much the other is worth... I heard a couple of thousand. Also he did not accept any loans as I don't think he will need them now.

He was offered to apply for a few different loans some with interest rates as low as 5 %. Is that a wise move?

I have another question while we have a computer at home we do not have a laptop... do you think he could purschase one with some of the grant or scholarship money that they have given?

Will he be able to use some of the money for lunch, bus fare to and from school or parking in their garage on the days that he can use my car?

Will we have a meeting with the school or scholarship foundation to determine what he can and can't do with these funds?

Any of these question that can be answered will help me sleep better tonight. My head is spinning but he seems to just take it in stride.

I have no idea what the cost of the 4 plus years of education will cost there. But if I was doing it, I would sit down, add up all of the college costs and see how that will do to pay for the costs. I doubt it will effect the grant unless it was based on need. But getting two or three sourse of money often happen for some of the best.

Student loans, who get your son into education debt unless he really really needs it.

Have you sat down and talked with the financial advisor of the school? If not, this may be a good idea.

Now, has he accepted these scholarships? Many times they are off the table if not accepted within a certain time.

Stay away from loans if you don't need them.

He has a aide page through the university, they offered the grants and some of the loans. Some of the loan offers were from government loans. 1 grant was a pell grant. He only accepted the grants because the people that runs the aide office told him too because they were nonrepayable money.
The scholarship is through the family of a person that graduated from his high school many years ago. It is in the deceased persons memory.

We received the news of the 40,000 Friday and the grants thrusday. No one has told us anything except the scholarship foundation. The only thing they told us was he was the chosen student. It has not even been announced to the school he attends. I am beside myself and have barely slept, thinking about how all of this works.

Great news, sorry in my first post, did not even notice who was posting,
Mind is somewhere else tonight. I am so happy for you.

Thanks fr. We are in a happy state of shock.

Well, congrats!! Forget the loans. Now the Pell will be disbursed in accordance to his scholarship money. Which basically means that the Pell will be help back until he runs out of scholarship money.

That's the way it happened to me anyway. I will graduate from school tomorrow with only paying $25 for the whole 5 years, books included.

J9 that is great... I just saw your nice pic on another post. 25 dollars, I hope we will be so lucky.
I am amazed that there is so much help out there for people that have the grades and want to go to college.
* so if he qualifies next year will he get another pell grant or is that a one time thing?

You have to reapply every year. Frankly, if he lives with you, I'm surprised he got it. You can only get it under certain circumstances such as low income.

Now, I used all of my scholarship money prior to the pell kicking in. I only got a $500 scholarship though, AND I went to a community college (much cheaper than a university).

My husband was off work injured for 6 months this past year... I think that made the difference.

Yup, that'll do it.

Just stay away from the loans unless ABSOLUTELY necessary. I have friends who used them, didn't necessarily NEED them, and now have to start paying within the next six months.

He is so good with money that it is frightening... I wish the other 2 would be as money savy as he is. Some of the loans were 9%. I'm sure he doesn't need them after the scholarship award.
I just hope it pays for books and other items related to school cost. I was told by some people that sometimes in the middle of a semester they make you buy a new book and sometimes they cost up to 200 hundred dollars... when you go to resell all they give you is 30 dollars for them.

Well, a new book is not purchased once a semester has started. Usually they change books every two years.

Some of my books have indeed cost up to $200, that is not a lie. I never sold my books back to the bookstore, I sold them to new students, you make more money that way.

I don't know if the scholarship covers the cost of the books, but my grant did.

That is a relief knowing that we will not have to buy new books for the same class.

I have been reading about different grants and it looks as though some of them do allow money to be spent on items needed for school. That is a relief. I just hope it is true for the types of grants he received.
I really don't want him to work at least the first year because I am sure the work load will be much heavier and harder than what he is used to in H.S. To his credit he has already had 2 college courses... so he is a bit ahead.

Thank you for helping me to sort this stuff out at least I have a better understanding of how some of the grants work. Maybe I will sleep better tonight.

Wow, this is really something. Congratulations bushg!

There truly is a lot of money out there to support higher education. It is not all "need based" though. There is a ton of money for specific areas of study, student achievement, particular school of attendance, community student resides in, clubs and memberships that student or parent belongs to... etc.

He was awarded 1 more scholarship, but it was taken away because he had already received the largest one that the school offered. No sweat because another deserving child received additional help.