How are outside scholarships treated?
If you receive an outside scholarship and you have already been awarded other aid, we will follow these procedures:
The outside aid will be added to the existing award upon receipt of the funds provided that the total of the outside aid and existing award do not exceed demonstrated financial need. The term that RHIT receives the funds is the term the funds will be applied to the students account, unless the student has reached the cost-of-attendance for the quarter.
If financial need is exceeded when the outside aid is added to the existing award, the existing awards will be reduced in the following order until the amount in excess of need is eliminated:
- Federal Direct Stafford Loan
- Federal Work Study
- Rose-Hulman Work Opportunity
- Federal Supplemental Education Opportunity Grant
- RHIT Merit