November 2018 Newsletter

November is National Scholarship Month! It’s the perfect time to amp up your search for scholarships, and you can start here. Our new short-essay scholarships are the latest way we are helping students like you get the money you need to cover your college expenses.

$2,500 Essay Scholarships are open!

We’re giving away two $2,500 awards this month, and there’s still time to enter! Submit your essay by November 23 for your chance to win. LEARN MORE >>

You Submitted Your FAFSA®, Now What?

Congratulations to those who completed the FAFSA®! Now it’s time to focus your energy on getting additional money for college while you wait for your financial aid award letter for the 2019-2020 school year. LEARN MORE >>

Coming up Short on Money for College?

Borrow less for college by exhausting these funding options first:

  • Scholarships and Grants
  • Savings and Income
  • Earned Aid
  • Federal Student Loans

If you still have gaps in your college funding, you may want to look into private student loans. Consider lender interest rates, terms, and benefits when selecting a lender. Visit our lender comparison page to get started. LEARN MORE >>

6 Scholarships

Competitive but lucrative!

  1. Fulbright Scholarship
  2. Intel Science Talent Search
  3. Marshall Scholarships
  4. National Merit Scholarship
  5. Rhodes Scholarship
  6. Harry S. Truman Scholarships

How You Can Benefit From Student Loan Refinancing

Life after graduation gets expensive, especially when student loan bills are added to the mix. Student loan consolidation or refinancing is an option to help manage your budget. Refinancing can also help by…

  1. Lowering your monthly payment
  2. Potentially lowering your interest rate
  3. Simplifying finances with a single monthly student loan bill

Check to see if refinancing is right for you? Check here!

Elaine Griffin Rubin Financial Aid News

Your College Questions Answered

I'm unsure about college still. If I apply for FAFSA®, and I get the money already, what happens to it if I decide I don't want to go to college anymore?

Answer:

Completing the Free Application for Federal Student Aid (FAFSA®) does not mean you are awarded money right away. The information provided on the FAFSA is shared with your prospective colleges and you will only receive financial aid monies from the school where you decide to enroll. It is not uncommon for some individuals to complete the FAFSA in order to determine what amount of financial aid they will be awarded to see if they can afford to attend college.

Now if you decide to attend college, enroll, receive financial aid funds and then decide to withdraw, there could be some financial consequences. When you withdraw from a school, there are two withdrawal policies that could impact you.

  1. Your School’s Withdrawal Policy. You can generally find this information in the school’s student handbook or their website. Each school will have its own policy, however it should explain how they handle withdrawals and explain how charges will be applied.
  2. Federal Student Aid and Withdrawals. If you used federal student aid (like a Federal Pell Grant or Federal Stafford Loan) for your educational costs, your school may need to return some of the “unearned funds” back to the federal government. Your federal financial aid is given to you to pay for education costs for a certain period of time (like a semester). If you are only enrolled for a portion of that time, then you are not considered to have “earned” the full amount. Your school would need to complete a calculation to determine what percentage of the federal financial aid you earned. This information should also be available in your school’s student handbook or in the financial aid office. (Another important note, any outstanding student loans will need to be repaid.)

It is okay if you are unsure about college right now. It is always best to wait until you are ready, because withdrawing from school could have some financial consequences.

Best of luck!

The Edvisor®

10K scholarship giveaway!