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Don’t Jeopardize Your Scholarship and Grant Eligibility.
A student’s eligibility for need-based
scholarships and grants is determined
by their family’s financial
situation from January 1 of their junior year through December 31 of
their senior year (January 1 – December 31, 2011). Financial
transactions completed during this time period could hurt or help a
student’s eligibility for need-based scholarships and grants.
For example, selling stock investments in the January 1 – December
31, 2011 period could cause capital gains to be added to parent’s
income. A higher level of family income could reduce or eliminate
a student’s eligibility to receive need-based scholarships and
grants. Use caution and consider what effects financial transactions
may have on student financial aid. Make efforts to keep family
income and assets reduced to the lowest level possible in calendar
year 2011.
Conversely, increasing family debt (or spending cash reserves) will
improve a student’s chances for receiving need-based financial
aid. If you are thinking about remodeling your family home, purchasing
a car, or making other major purchases, consider doing so in 2011.
Parents need to make the correct
financial moves
to maximize their student’s eligibility for need-based scholarships
and grants. |
