Money Advice: How to play colleges against each other to get best scholarship

Learn how students can make universities compete against each other to get the most college cash.

It’s a way to try and secure more scholarship money that many students and parents may not know about.

Hank Mulhilvill of Mulvihill Asset Management says it’s a practice colleges expect students to try.

"Do you play one school against the other? Absolutely, it happens all the time,” said Mulvihill.

How does it work?  When parents and students receive an award letter from one school, try showing that letter to another school and see what they come back with.

Mulvihill says aid officers at schools expect it.

“Will they throw you out of the door if you do it?  No!”

Mulvihill says schools want to compete for good students and often will match a scholarship offer from another university.

“Don’t give up that opportunity and you can leverage that to get many thousands of dollars in aid,” said Mulvihill.

Learn more about Mulvihill Asset Management.

Each week WFAA brings you Frontier Financials, 'Snackable Money Advice' from North Texas financial and real estate experts - Powered by Frontier Business Edge.

 

Copyright 2016 WFAA


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