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Am I required to tell the financial aid office of any private scholarships I receive?

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Host: Am I required to tell the financial aid office of any private scholarships I receive?

Brad Barnett: You are definitely required to let us know if you have a scholarship that s not currently listed on your financial aid award notice. This is often times is a problem more for first time students than it is for continuing students. Lot of first time students don t know that they are getting the scholarship until maybe just right before the Fall semester begins, from a high school award ceremony or something along those lines; but Federal & State Laws require us to consider scholarship as part of your financial aid package. At times, this means we end up having to change an award that we previously made to you. We don t like to do that, but sometimes we absolutely have to. So it s to your advantage that you let us know of the scholarship as early as possible. Sooner we know about it, the sooner we can see if it s going to affect your financial aid award and the sooner you ll know exactly what kind of money you re going to get to go to school.

Expert: Brad Barnett

Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business. He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health. He has been involved in the financial aid and/or rehabilitation More »