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Scholarships

Scholarship Questions and Answers

  • Can students with extraordinary/unusual circumstances beyond their control appeal to have their Trustee/Presidential scholarships reinstated?

    Students have the option to complete and submit an appeal form available from DFA. Reasons for appeal include: death of a family member/friend; illness/medical issue; “stop out” due to medical issue or mission trip etc., break in enrollment due to internship or Co-op program (not through Purdue). Please contact scholarshipfda@purdue.edu for a copy of the form and submit the completed form back to them. 

  • What are the differences between award/prize and scholarship? Taxes?

     Definitions:

    • Award: Financial support based on achievement, performance, or other criteria
    • Prize: Recognition based on competition or other criteria. Example: A competition is held, and prices for 1st, 2nd, and 3rd place awarded to students
    • Scholarship: Financial support based on academic achievement or other criteria that may include financial

    Awards are taxable! Students will receive a 1099 for awards given to them at the end of the calendar year that exceed their fees. International students are taxed on all awards (the amount is deducted from their award). 

    Taxes:

    Scholarships are tax-free! If a student receives a scholarship, a fellowship grant, or other grant, all or part of the amounts you receive may be tax-free. Scholarships, fellowship grants, and other grants are tax-free if you meet the following conditions:

    Students are a candidate for a degree at an educational institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities; and the amounts students receive are used to pay for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution.

    (Purdue DFA, May 9, 2016 meeting notes)

  • Do students with Purdue Trustee and Presidential Scholarships have to reapply annually?
    Students do not have to apply annually; it is the responsibility of the student to review the guidelines and criteria annually.
    The scholarship area recommends for students exceed criteria, and also apply for the Purdue University Scholarships. 
    To maximize scholarship consideration students should complete the FAFSA annually. 

  • Where do students locate the names of awarded scholarships?

    Log onto your myPurdue using your career account

    Select Financial Aid

    Select Financial Aid Status 

    Select the School Year

    Examples:

    fall 2016 and spring 2017, select 2016-17
    fall 2017 and spring 2018, select 2017-18

    Click on the link to view awarded financial aid

    Click on the banner tab: award overview to view the names of your scholarships and a review of your financial award package for the requested school year

  • Will I still receive a departmental scholarship or Presidential/Trustee scholarship while participating in an internship or co-op during the fall or spring semester?
    In order to recieve departmental scholarships, students must be enrolled in a MGMT 390 course. As of September 30, 2016: Krannert has four internship courses: 39010 Accounting, 39020 MGMT, 39030 IM and 39040 ECON. If students have a presidential/trustee scholarship they will not receive the scholarship during the semester they are not enrolled as a Krannert major with a minimum of 12 credit hours through Purdue, West Lafayette campus. Students with presidential/trustee scholarships who have coops/internships planned are advised to contact DFA and copy meven@purdue.edu (the Krannert Scholarship director) to communicate their coop/internship situation. Following the coop/internship, if the student continues to meet the Presidential/Trustee scholarship criteria, DFA will work with the students to reinstate the Presidential/Trustee scholarship. The scholarship will be reinstated for the following: fall or spring semester. The Krannert Scholarship area recommends that students communicate coop/internship information a minimum of 30 days prior to the start of any coop/internship absence from campus. Also, we suggest sending a follow-up email to DFA, a minimum of 30 days prior to the semester the student(s) return to campus.

  • What if I am a freshman and have a presidential scholarship in another college, and want to transfer to Krannert?
    If a student has a Trustees/Presidential scholarship, they must stay in their original school through the first year. First year students need to wait to transfer until after spring grades are posted. In order to renew a Trustees/Presidential scholarship a student must have a - 3.0 GPA at the end of spring semester. And a completion of 30 credit hours in the fall and spring. Reach out the DFA if you have questions.

Scholarship criteria are nonnegotiable, based upon funding and subject to change without notice.

Scholarships