Does applying later affect the amount of scholarship money one might get?

lsatgodjk

I know that applying in Feb as opposed to November decreases one's chances of getting accepted, but does this affect the amount of scholarship money one might get? For example, lets say someone that was accepted is offered 60k, could that person have been offered more if they applied sooner? Is there like a certain amount of funds schools can give out that is given out on a rolling basis? Thanks

10000019

Depends on the school. Once they start handing out money, the longer you wait the worse it'll be.

Leah M B

Yes, it does. It's the same as with admissions, everything is limited when you apply later. They give out more money earlier in the cycle. Most of the time, if someone is admitted off a waitlist there isn't any scholarship money available for the same reason.

MindyKale

@"Leah M B" said:
Yes, it does. It's the same as with admissions, everything is limited when you apply later. They give out more money earlier in the cycle. Most of the time, if someone is admitted off a waitlist there isn't any scholarship money available for the same reason.

What happens to people that get accepted but choose to withdraw later in the cycle? Wouldn't that money get redistributed? i.e. would you stand a chance to an offer that someone has passed if you have the numbers/profile etc.

NotMyName

@MindyKale

What happens to people that get accepted but choose to withdraw later in the cycle? Wouldn't that money get redistributed? i.e. would you stand a chance to an offer that someone has passed if you have the numbers/profile etc.

I could be wrong, but I think about about admissions a lot like airline bookings. You can generally find more scholarship earlier in the cycle because the schools know you have more options and offer scholarship to compete for candidates they want. Later in the cycle, even in cases as you mentioned where a student who was offered considerable scholarship defers or declines, I think it's unlikely for the school to shift that money over to another candidate in their waitlist or one that is applying later. Reason being is that the school knows the student applying later or on their WL has fewer options.

If I book a flight for $200 then cancel a week before departure, the airline is not going to sell my seat for $200 -- more like $300+.

Ohnoeshalpme

In general, yes, although some scholarships are applied automatically and do not depend on the date of admission.

Leah M B

@MindyKale said:

@"Leah M B" said:
Yes, it does. It's the same as with admissions, everything is limited when you apply later. They give out more money earlier in the cycle. Most of the time, if someone is admitted off a waitlist there isn't any scholarship money available for the same reason.

What happens to people that get accepted but choose to withdraw later in the cycle? Wouldn't that money get redistributed? i.e. would you stand a chance to an offer that someone has passed if you have the numbers/profile etc.

Yes and no, I think. Much like @NotMyName's airline analogy, I think schools offer more money than they really intend to give out (kind of like overbooking), assuming that some students won't accept. Sometimes schools do a 2nd round of scholarship money for accepted students, typically after the first deposit deadline in April, once they have a better idea who is not going to attend. But you would have to be deposited and it helps to discuss with admissions. But I think that's the general timeline: schools give out more scholarship money up front and less as the cycle goes on. Then after students deposit and some drop out, they may re-distribute some money, if it's available.