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 4-year 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 4-year college, then enroll.
The college will reference your RaiseMe scholarships 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.
As with most scholarships and financial aid, the total amount earned is awarded across the years you’ll attend the 4-year college after transferring - typically two years for a full-time transfer student who has completed their Associate degree (unless specified otherwise by the 4-year college you transfer to).
Note that RaiseMe may not be mentioned on the award letter! For example, you might have earned $2,000 per year from a 4-year college, and end up receiving $4,000 in 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 amount awarded on RaiseMe, they've met their obligation and all is well. If you aren't given the amount promised, please contact us and we can look into it for you.
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 transferable between different colleges, because they are awarded by the school itself, not by RaiseMe.
Do I have to transfer immediately?
You should try to make sure your RaiseMe planned transfer term is correct so your earnings are submitted on the correct earning deadline. However, check the 4-year college’s requirements on their RaiseMe profile page and contact us if you have been submitted for the wrong planned transfer term. You can also contact the financial aid department at the college for their policy on redeeming scholarships for later entry terms.
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