Scholarships are considered a source of “gift aid” because they are a source of free money—financial aid that does not have to be repaid. Funds are awarded to individual students and are often based on specific criteria, such as the student's major, GPA, financial need, etc.
Many students receive scholarships from outside sources, such as hometown organizations, civic organizations, churches and other local donors, or from businesses and corporations.
When you complete your Free Application for Federal Student Aid (FAFSA), any scholarships that you receive will be considered when calculating your financial aid award.
Graduate students will be given the opportunity to report scholarships online when responding to your Financial Aid Award Notice (FAAN) through MyU.
University scholarship awards disburse in accordance with the University's financial aid award policy. Consistent with University policy, the total annual aid amount awarded to a student, including all scholarships and grants, cannot exceed cost of attendance at the University of Minnesota.
Financial aid awards (e.g., loans, work study, scholarships, or grants) may be reduced for students whose total aid exceeds the cost of their program for the academic year, as determined by the Office of Student Finance.
When you receive a scholarship from an organization outside of the University of Minnesota, your existing financial aid awards will be reviewed and adjustments may be made based on the receipt of your scholarship(s). You may see a reduction in other types of aid, such as loans, work-study, or institutional aid.
The University of Minnesota will allow you to receive the maximum benefits of any scholarships within the US Department of Education guidelines.
Many scholarships require full-time enrollment. Information on eligibility for financial aid is available.
If you receive any scholarship from organizations outside of the University of Minnesota (e.g., a local community organization, church, etc.), it is your responsibility to forward the check(s) to the Office of Student Finance for processing. You should endorse any check that is made payable to you and the University of Minnesota.