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DETERMINING FINANCIAL ELIGIBILITY
Financial eligibility for the Phillips Scholarship is determined by several factors:
- Substantial unmet need
- Heavy Student loan burden
- Admission and subsequent enrollment in an institution that reduces work study and loans before reducing its own grants when a student receives outside scholarships.
Before applying for the Phillips scholarship, you should determine if you qualify financially. Using your financial aid award letter from the school you will be attending and the Cost of College figure from our list, make the following calculations.
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Cost of College
Cost of tuition, room, board
and fees
*Click below to determine your cost
Cost of College
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-
MINUS
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Expected Family
Contribution
See FAFSA Information
The EFC from your Free Application for Federal Student Aid, Student Aid Report - it is the amount your family is expected to contribute to your college education
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=
EQUALS
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Eligibility
How much aid you are eligible to receive according to the federal government
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From your Financial Aid Award Letter:
Grants
e.g. college or university grants, state, Pell, SEOG grants
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+
PLUS
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Loans
e.g. college and university, Stafford, Perkins loans
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+
PLUS
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Work Study
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=
EQUALS
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Total Aid
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To determine your financial eligibility:
Eligibility
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-
MINUS
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Total
Aid
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=
EQUALS
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Unmet
Need
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AND
Unmet
Need
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+
PLUS
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Loans
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=
EQUALS
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Phillips Eligibility
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If your Phillips Eligibility, which is the sum of your Unmet Need plus your Loans, exceeds $7,000, you are eligible for financial consideration for an award from the Phillips Scholarship.
Click here for a link to the financial calculator, where the calculations will be done for you.
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