What is Institutional Aid?

questions & answers

There are a lot of terms when it comes to financial aid and one that you may have heard is “institutional aid.” Here’s what you need to know about this form of aid. What is Institutional Aid? Institutional aid, unlike federal aid, is money from your college or university. It’s often available to incoming students, …

Why Do I Have to Notify My College if I Earn an Outside Scholarship?

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“Outside scholarships” are any scholarships you earn from external sources, basically anyone besides the federal government or the school itself. So why do you have to report outside scholarships to your school? It’s All About Financial Need When you earn outside scholarships, your financial need goes down—you now have additional money that you didn’t before. …

Can You Apply For Too Many Scholarships?

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Many students hear that they should “apply to as many scholarships as they can,” which is solid advice! But what about the other end of the spectrum? Can you actually apply for too many scholarships? Is that a bad thing? Scholarships Affect Financial Aid This is sort of a “yes and no” answer. The problem …

When Should I Update My FAFSA?

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When filling in the FAFSA, the information you enter has to be correct when you submit the form. However, FAFSA administrators are aware that that information could change at any time and have made provisions for applicants to change certain details. You must update your FAFSA if there are any changes in any of these …

What Does “Account Closed Due To Transfer” Mean & Does It Affect Your Credit Record?

questions & answers

When you consolidate your student loans, it gets transferred into a completely new loan with a new account and a new lender. When this happens, your old loan account becomes redundant but it still stays on record as part of your credit history. Consolidation & Credit Scores If you check your credit report after having …