How is my scholarship processed?
Once the Financial Aid Office verifies that all scholarship requirements are being met, your funds will be disbursed to your account. This will happen ten days before the first day of class. Your funds will be used to pay any balance you owe to the College. If any funds remain after your balance has been paid, then the Finance Office will send the remaining funds to you.
If a scholarship donor does not specify how to distribute the funds, the Financial Aid Office will divide the award between Fall and Spring semesters.
How does receiving a scholarship affect my Financial Aid?
Scholarships are based on either merit or academic achievement. However, they are still counted as part of your financial aid package. Federal and state requirements indicated that student’s financial aid package (grants, loans, work-study, and scholarships) cannot exceed their Cost of Attendance.
The cost of attendance for Joe is $15,500 (full-time Texas in-district residents). He cannot receive a financial aid package higher than $15,500.
Joe has received his Financial Aid package of $15,500.
Joe then receives a private scholarship for $1,000. His financial aid package needs to be reduced by $1,000 so that he can receive the scholarship. In this case, his student loan is reduced.
His award total is the same but he will now have fewer loans to repay.