Outside awards benefit undergraduate students by reducing and even eliminating your need to work to help meet your student budget. Your outside awards will reduce the Student Responsibility portion of your financial aid award dollar-for-dollar. Your Stanford scholarship will be reduced only if your outside awards exceed your Student Responsibility. Outside scholarships cannot, however, be used to replace any expected parent contribution if you are receiving need-based aid. The examples below show how outside awards can change your financial aid package.
|Total Outside Awards||0||2,500||5,000||7,500|
|Academic Year Earnings||2,800||300||0||0|
In certain cases you may not be able to replace the entire amount of the Student Responsibility with outside awards due to eligibility requirements for federal and state need-based aid funds. You will receive an updated copy of your individualized financial aid award letter when your aid is adjusted for outside awards.
Undergraduate students must notify our office of all outside awards received, including awards paid directly to you. Failure to report this information will result in losing eligibility for Stanford financial aid.
Please report your outside awards after May 15 using the “Report Outside Scholarships” link in the Finances section of the Student Center tab on Axess. You will find tools there for tracking the status of your outside awards.
Graduate students should report any expected outside awards in the Anticipated Resources section of the Graduate Application. If you receive outside awards after you have filed your application, you should report those awards to us using Axess. You will find a link for “Report Outside Scholarships” in the Finances section of the Student Center tab, where you will also find tools for tracking the status of your outside awards. Outside awards may affect your eligibility for loans and Federal Work-Study.
Last update: October 15, 2013 1:44 PM