Honor Society® Expert FAQ
What are last-dollar scholarships?
A last-dollar scholarship generally pays eligible costs remaining after specified other grants or scholarships are applied. It may cover tuition only, rather than the full cost of attending school.
What to know before you act
Read which aid is counted first and which charges the program includes. Two students can receive different last-dollar amounts because their other awards differ. A promise of covered tuition may still leave fees, books, housing, transportation, or equipment unpaid.
Compare the entire education budget, not just the award’s headline. Ask whether an outside scholarship changes the last-dollar award and whether renewal requires a new application. Local scholarship searches can help identify funding for gaps the program does not cover, where award rules allow.
Your next steps
- Identify covered charges and excluded expenses.
- Ask how other awards change the calculation.
- Calculate remaining costs for each term and future year.
For the next step, use the compare financial aid offers. Use a worked example and worksheet to compare net price, loans, and renewal conditions.
Related Honor Society® resources
Compare financial aid offers
Use a worked example and worksheet to compare net price, loans, and renewal conditions.
Find local scholarships
Use a focused search plan and outreach template for community awards.
Scholarship directory
Find additional award leads and check each provider’s eligibility and application rules.
About Honor Society® Expert FAQ
Honor Society’s Q&A offers informed perspectives on common questions about scholarships, education, and careers. Our goal is to provide clear, well-researched answers grounded in reliable sources and practical guidance.
