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Scholarship Displacement
My son worked REALLY hard on dozens of outside scholarship applications and was fortunate to receive over $15,000 from a variety of sources. Only THEN did he learn about his college's practice of scholarship displacement. Any tips? I know it will off-set his work study portion (which is ok), but it will then displace $10k of need-based aid he received. All that work for nothing!!
If he accepts the offer of $5000 in Direct Student Loans, can the scholarships be used to pre-pay those immediately? Or can they be used to pay loans after graduation?
Any ideas would be appreciated!!!
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