Raise.me, a scholarship program that helps first year college students, has posted valuable information to help students find or keep money during the Covid crisis (https://www.raise.me/blog/students/financial-wellness-during-covid-19/). Raise.me is addressing concerns of current college attendees, and is not a prediction of what the money landscape will look like for today’s high school seniors or juniors.
For those who aren’t familiar with Raise.me, the basis of their scholarships is a student’s high school record. $$ are awarded for each A or B, activities, and leadership. The program offers a one-time scholarship that can be applied to first year college expenses.
There are 2 downsides to this bounty. It is only available based on high school experiences so there is no follow up for the rest of one’s college expenses. The money dispersed is considered income when the financial aid package for year two is calculated. The money has been spent on expenses for year 1 and now can reduce the amount of aid given to pay for year 2. If you have earned a large sum for year 1, get help calculating the difference it will make in year 2 and if you will have to borrow .