Here are some commonly asked questions about how micro-scholarships are awarded to students.
Is this money delivered to my bank account? Is it cash?
The money on RaiseMe represents scholarship dollars from colleges and is applied as a traditional college scholarship would be - as a discount on your tuition when you enroll. There is no cash from RaiseMe or from any of our college partners.
I'm seeing earnings for colleges start to add up - when can I get it?
As long as you are submitted, scholarships are awarded in your financial aid package if you apply, are accepted to, and enroll at one of those colleges. Be absolutely sure to complete your Portfolio so you are submitted to the college.
I've been submitted. Now what? When do I get the money?
If you haven't already, you need to apply and be accepted to the college, then enroll.
The college will reference RaiseMe when determining financial aid for you, and as long as all requirements have been met, you'll be awarded at least the amount earned on RaiseMe in scholarships, grants, etc.
Note that RaiseMe may not be mentioned on the award letter! For example, you might have earned $2,000 from a college each year, and end up receiving $4,000 total. Those scholarships will come from different funds and it's very likely they will not say "RaiseMe" on them, but as long as the college provides at least the dollars promised on RaiseMe, they've met their obligation and all is well. If you aren't given the amount promised, you should contact either us, or the college's financial aid office.
Can I use the scholarship money to pay for books?
The Micro-Scholarship dollars are awarded by the college/university in your financial aid package, and questions about how to receive those funds can be directed to the college itself. It's standard for the scholarship to be applied directly to tuition as a discount, not awarded in cash form for books or other supplies.
Can I use the scholarships I earn from one school for another school of my choice?
Micro-Scholarships are not transferrable between different colleges, because they are awarded by the school itself, not by RaiseMe.
How will the scholarship be applied if I'm attending community college for the first 2 years and then transferring?
When you view a university's page on RaiseMe that you're Following, you'll see the total amount earned and the yearly amount you'll receive from the university if you are accepted, enroll, and meet all requirements via RaiseMe. The total amount earned is awarded over a four-year traditional graduation period while attending the university.
If you attend a community college for two years before attending the four year university, you'll be able to use two years worth of the micro-scholarships at the university once you transfer. For more specific information or questions, contact the college's financial aid office.
Can I take a gap year?
If you are taking a year off after high school and then are applying to college, RaiseMe is not an option for you to earn micro-scholarships ahead of time, because you are technically no longer a high schooler at the time of your submission.
If you are planning to apply to college, be accepted, then defer by a year, and you are completing RaiseMe as a high school senior, please contact the financial aid department at the college, as they may allow you to still qualify for micro-scholarships.