Some students receive college scholarships in amounts that are greater than their total costs. In these cases, students have their scholarships reduced to stay under the cost of attendance. This is called Award Displacement and each scholarship organization navigates it differently.
Maneuvering award displacement, financial aid and student loans can be challenging for students–as well as the people and organizations who are helping them navigate college.
In the Selby Foundation’s October Regional Scholarship Provider Network, a panel from local organizations shared their experiences supporting students in a world that includes these complex dynamics. Kiarra Womack, Senior Scholarships Manager, facilitated. Panel members (shown seated, above from left): Taylor Wey, Associate Director of Foundation Scholarships, University of South Florida; Brent Giangregorio, Director of Client Services, Women’s Resource Center; Henry “Hank” Battie, Board Member, A. Jean Battie Education Fund; and Theresa Quinn, Board Chair, Take Stock in Children of Manatee County, and College Counselor, Manatee School for the Arts.
A few of the big takeaways for scholarship providers (not one-sized-fits-all) follow.
Educate your students about financial aid
When working with students, share resources around cost of attendance and talk about award displacement with students and encourage them to be proactive.
Can they request a financial aid appeal if they need more funding?
Have they made a friend in the financial aid office at their college or can you help introduce them?
Advocate on behalf of your students
Consider writing out a sample email for students to send to their colleges regarding your scholarship award. Share the links to the financial aid offices at a school your student attends and encourage them to meet with a counselor. Ask for the student’s permission to include you in college conversations about your scholarship to reduce stress. Collect parent information of students when applying to have them remind students to renew applications.
Incorporate changes to your scholarship award process
Collect award summaries from students to understand their incoming financial aid. Update your award letter to colleges and state that your scholarship can go to anything that falls under cost of attendance. Communicate with students and colleges in advance about when and how they will receive your scholarship. In helping students with award displacement, get your award out early to notify colleges that the scholarship is coming, and consider working with a prepaid plan that goes to housing, dorms or costs beyond tuition.
We thank each member of our now 3-year-old network for continuing to show up, support each other, and share their knowledge so freely for the benefit of all students in our community.
For more information or to participate as a scholarship provider in Charlotte, DeSoto, Manatee, or Sarasota county, email Kiarra Womack at KWomack@SelbyFdn.org.