Should a student give up a full scholarship to an excellent school if it does not include room and board and?

the parents recently filed for bankruptcy, therefore cannot cosign. there are no other family members to cosign, the student does not have any credit history, and federal loans will not cover all of the room and board? the student already has a mimimum wage job and qualified for work-study, but it's still not enough. Are there any options, or should the student just give up their seat and scholarship so that way someone else can have it?

Should a student give up a full scholarship to an excellent school if it does not include room and board and?
Have the student contact his financial aid officer, they are there to make paying for college possible... THAT is there JOB.





If the school is willing to provide them with a full scholarship then they surely want the student to attend there school and will bend over backwards to make it possible. Other sources of money for a students are:





Stanford Loans (Subsidizes and Unsubsidized)


Pell Grants


Institutional Loans


Private Loan companies





More than likely before receiving the above mentioned loans the parents will need to apply for, and be rejected, a Parent PLUS loan. Its humiliating for the parents to have to apply for a loan they know they will never get, but its part of the red-tape. Once the parents application is denied, the Finacial Aid department will start looking for other sources.





Also, if the bankruptcy is a recent situation that is not reflected in there most recent tax return the family can request paperwork from the Finacial Aid office to have there FASFA up-dated with the recent information and his Finacial Aid package will be revised.





I am NEARLY certain that an unsubsidized Standford Loan is available to just about all students and CAN be used towards room and board.





Long story short..... your student is getting a free ride to a great college, you need to make the Finacial Aid office work for you. Just remember there are LOTS of red tape and hoops you may have to jump through (some a bit humiliating).
Reply:NO WAY. Take the scholarship, apply for additonal scholarships and every student loan you can get. There are lenders that don't require co signers. You can be a student worker - in the long run, you debt will be less than if you passed on the scholarship, because the cost of tuition will be included. If you think education is expensive, try ignorance.
Reply:Did you do your fafsa? if you did, you would have qualified for grants and subsidized loans. you might want to do it if you havent yet, i mean, it would never hurt right?