Advice - need-based grants vs. merit scholarships

[dc5484]

Hi everyone,

I have several questions regarding grants and scholarships. I have been offered a need-based grant at Northwestern and a merit scholarship at Case Western, for roughly equal amounts, with the Case scholarship being slightly more.

1) Differences in amount aside, is there any advantage to a merit-based scholarship over need-based grant?

2) Will being the recipient of a merit-based scholarship help me at all when it's residency application time?

3) Will getting the merit scholarship at Case mean that I will probably not get any more NEED-BASED grants/scholarships from them?

Any answers would be much appreciated!

---

Members don't see this ad.

 

[BigRedPremed]

How did you hear about your NU financial aid?

 

[Norua]

Doesn't seem to me like there's a difference between the two, maybe if you had a need-based grant you could apply to an institutional merit scholarship and have a better chance of getting it?

 

[dc5484]

How did you hear about your NU financial aid?

i got an e-mail yesterday from NU notifying me of the need-based grant...i haven't heard anything yet about loans or scholarships. coincidentally, does NU give out scholarships? If so, have they been given out already, or if not, when would they announce?

 

[1956Goldtop]

I know of at least one person that got a NU scholarship. I don't know if they've handed them all out though.

 

[Flake0006]

Merit Scholarships are guaranteed as long as you keep doing well in med school. Need based grants "I think" can be taken away if your financial situation changes aka parents make more money.

 

[JonnyQuestMD]

-

 

[Jolie South]

Doesn't seem to me like there's a difference between the two, maybe if you had a need-based grant you could apply to an institutional merit scholarship and have a better chance of getting it?

i don't think that you "apply." they choose you.

 

[dc5484]

Merit Scholarships are guaranteed as long as you keep doing well in med school. Need based grants "I think" can be taken away if your financial situation changes aka parents make more money.

what if the need-based grant letter that they sent me says that it is over a period of 4 years, and that its contingent upon matriculation in the fall and continued enrollment as a med student in good standing? the letter says nothing of having to re-apply for it next year, nor anything about the possibility of having the amount modified/removed based on future (parents) income.

 

[tulip08]

I'm glad you asked this question because I'm on the same boat.. I got a grant from Northwestern yesterday (unfortunately did not get the Case scholarship ..) but I was wondering.. if I got X amount from one school for need-based grant, can I expect the same amount from other schools too?

 

[muireinin]

what if the need-based grant letter that they sent me says that it is over a period of 4 years, and that its contingent upon matriculation in the fall and continued enrollment as a med student in good standing? the letter says nothing of having to re-apply for it next year, nor anything about the possibility of having the amount modified/removed based on future (parents) income.

I have grants for college, so this might be different. Grants may not be completely revoked, but they can decrease/change the amount of the award in any year if anything changes (if the school loses money, you/your parents gain some). The letter wouldn't necessarily mention this- you should call and ask if the amount is contingent on income or fixed for the 4 years. (College) Scholarships are fixed amounts and generally "safer." But again, it might be different for med school

 

[MsJLewis]

Are you positive that the e-mail from NW was "need-based"? It sounds more like a merit scholarship to me.. which would be in addition to any need-based grants that you would qualify for.

 

[akszp4]

Need based grants tend to vary in amount and can be revoked if finances change. So you may want to see if it's a one year type of a thing or is going to be offered throughout your schooling.

Merit scholarships (as said above) tend to be for longer time frames and can be put on a resume's as a accomplishment.

 

[dc5484]

Are you positive that the e-mail from NW was "need-based"? It sounds more like a merit scholarship to me.. which would be in addition to any need-based grants that you would qualify for.

the letter says, "Your selection for this grant award was based upon a need-analysis of the financial aid information you submitted. This grant is contingent upon your matriculation in our fall, 2008 entering class and your continued enrollment as a medical student in good standing at Feinberg."

Correct me if I'm wrong, but I'm pretty sure that means its a need-based. What is confusing me though, its saying the grant amount is for my four years at Feinberg, and that I will receive $x each academic year, half at the beginning of the year and half in January. So what I'm trying to figure out is, is this grant set in stone, or can it be modified/withdrawn if my parents financial situation changes?

 

[dc5484]

Need based grants tend to vary in amount and can be revoked if finances change. So you may want to see if it's a one year type of a thing or is going to be offered throughout your schooling.

Merit scholarships (as said above) tend to be for longer time frames and can be put on a resume's as a accomplishment.

see above response

 

[1956Goldtop]

Have you contacted the financial aid office? what do they have to say about this

 

[dc5484]

Have you contacted the financial aid office? what do they have to say about this

i haven't yet, but ill probably send them an e-mail asking about it today

 

[studyin]

I got some need and merit from Northwestern. They come in separate emails (merit came about a week before need). You need to set up your NU email account in order to get your need-based award summary - because that's the email they send it to.

 

[ImEatingSoup]

I am waiting for Financial Aid info from NU as well. Do you know if your NU merit scholarship was based on GPA, MCAT or a combination of the two?

 

[1956Goldtop]

Maybe its just overall desirability of the candidate. I have numbers basically right around the studyin's and got nothing merit wise.

Dc have you heard from them?

 

[Norua]

I didn't know NU gave out merit scholarships. I wonder if they would lower your need-base grant if you got both? Might seem possible since studyin said the merit letter comes before the grant letter.

 

[studyin]

I doubt any scholarship is based on numbers alone. And no, I don't think NU lowers your need-based because of merit - I got more need from them than any other school thus far. Although, I wouldn't be surprised if other schools do that.

 

[dc5484]

Maybe its just overall desirability of the candidate. I have numbers basically right around the studyin's and got nothing merit wise.

Dc have you heard from them?

nope, havent heard anything about merit scholarships. i did get my financial aid package today though

 

[tulip08]

is anyone else having trouble logging into ceasar? i can check my mail just fine but can't seem to get into ceasar to check my fin aid package!

 

[1956Goldtop]

can you post the link for caesar?

 

[akszp4]

the letter says, "Your selection for this grant award was based upon a need-analysis of the financial aid information you submitted. This grant is contingent upon your matriculation in our fall, 2008 entering class and your continued enrollment as a medical student in good standing at Feinberg."

Correct me if I'm wrong, but I'm pretty sure that means its a need-based. What is confusing me though, its saying the grant amount is for my four years at Feinberg, and that I will receive $x each academic year, half at the beginning of the year and half in January. So what I'm trying to figure out is, is this grant set in stone, or can it be modified/withdrawn if my parents financial situation changes?

I would think that implies it would cover you throughout med school as long as you don't flunk out. But when you ask the school can you let us know what they said?

Thanks.

 

[Norua]

http://www.northwestern.edu/caesar

 

[dc5484]

I would think that implies it would cover you throughout med school as long as you don't flunk out. But when you ask the school can you let us know what they said?

Thanks.

I sure will.

 

[dc5484]

So I e-mailed the financial aid office at Feinberg, asking if the need-based grant they offered was guaranteed for the 4 years or whether it was subject to change based on family financial situation. They said as long as I remain in good standing, it is guaranteed and NOT subject to change based on family financial situation.

SWEET.

 

[1956Goldtop]

sickkkkkkkkkkkkkk

 

[artaxerxes]

So I e-mailed the financial aid office at Feinberg, asking if the need-based grant they offered was guaranteed for the 4 years or whether it was subject to change based on family financial situation. They said as long as I remain in good standing, it is guaranteed and NOT subject to change based on family financial situation.

SWEET.

sounds like wink wink nudge nudge merit scholarship
for those in need perhaps

did anyone get a email saying their full award is available but is unable to see it in NU's Caesar service or the webmail?

 

[1956Goldtop]

I think they mentioned that it would be available on the 15th.

 

[1956Goldtop]

nevermind, mine are available.