I would like to know how colleges consider outside scholarhips. I have been accepted under  early decision and am currently applying for various other scholarships and grants. Just wondering if the money I get from outside will chip away my parents contribution, work study or the grant that the college is giving me. Thanks a lot.

You may not be thanking me after this answer. If you are awarded a $10,000 scholarship for an outside source for college, colleges treat that money just like you had saved it and had intended on using it for college. Your financial aid package is based on need, and if you have $10,000 from some other source, you’re not going to need it from the college.

You see, if it cost $20,000 a year to attend Blah University, your need may be assessed at $12,000 based on your complete financial picture. This doesn’t mean that the school is going to give you $12,000 in aid and you can add that to other sources you find. If you find other money, the school is going to reassess your need and make you a lower offer.

The good news is that outside scholarships may be considerably higher than what the school is offering. Just be smart about applying for scholarships. There are  too many scams out there. When in doubt, discuss this matter with the financial aid office at the school. Once accepted, most schools would really like to make it possible for you to attend. It’s a business. Treat it like such.

I am an upcoming senior and am starting to recieve applications for college. Some of the schools have an option to waive the application fee, which is sometimes as much as $100. If I am not approved, what will the school do with my application? Do they throw it out, send it back, or call me and let me know they need the money before they will even process it?

As you might expect, every school has a different policy regarding waiver of the application fee. Typically, to qualify, you need to submit some kind of proof of need, perhaps a letter from your high school. Your request will then be considered, and you will be notified as to whether it has been approved. Your application will most likely sit until the fee is received if you are not approved. However, I would encourage you to understand the specific policy of the schools to which you are applying, and if that information can’t be obtained through their application packets, you should contact each school directly for clarification.

When should a student begin sending in applications for scholarships. Should she wait until after being accepted somewhere, or should she begin beforehand?

Scholarships have different requirements. If it were a scholarship, for example, through your place of worship, the requirements would be quite different than if it were a scholarship offered at the college you hoped to attend. The best answer I can give is to get an application and follow the rules to the letter.

P.S. Some colleges automatically apply...