Scholarship FAQs

Q. What grades or activities do I need to be eligible for Georgetown scholarship assistance?
Q. I was awarded a scholarship from a private outside organization. Do I need to inform my financial services counselor? 
Q. Is my scholarship taxable? 

Q. What grades or activities do I need to be eligible for Georgetown scholarship assistance?  

A. Grades and activities affect Georgetown's admission decision but do not influence financial aid. The financial aid decision will be based solely on your family's financial situation. If your family demonstrates financial need, Georgetown will offer a package of financial assistance to meet that need.

Q. I was awarded a scholarship from a private outside organization. Do I need to inform my financial services counselor? 

A. Yes, if you receive an outside grant or scholarship or a third-party payment you must report the type and amount to the OSFS online through your MyAccess account. Under federal law and university policy Georgetown must consider these payments as resources that are available to help meet your financial need.

The outside awards you report will be used to reduce or eliminate your loan or student employment before any adjustment in your need-based scholarship award will be made. Entitlement payments such as Federal Pell Grants, tuition benefits or Veteran Affairs benefits replace scholarship on a dollar-for-dollar basis.

Students can contact their counselor to discuss how outside or entitlement awards impact their need-based financial aid package. Total aid, including outside resources, cannot exceed your demonstrated financial need and cost of attendance. 

Q.Is my scholarship taxable? 

A. The Internal Revenue Service (IRS) may consider some forms of financial aid taxable. Under current federal law, the amount of a student's total scholarships/fellowships that exceed the cost of tuition, fees, books, supplies and equipment is generally considered by the IRS to be taxable income. Information about what to report to the IRS and how to report it can be found on the IRS website and in the IRS tax topic #421.