According to a recent nationally representative survey conducted by Student Beans, 50% of U.S. college students who receive private scholarships experience scholarship displacement.
The Student Beans survey is the first survey to evaluate the impact of scholarship displacement on students. The student survey results suggest a much greater impact than the NSPA study of college policies.Almost a third of the survey respondents reported receiving a private scholarship. Students at private non-profit colleges were more likely to report having received a private scholarship.
Combining the 50% and 62% figures suggests that almost a third of scholarship recipients who report their scholarships to the college financial aid office experience a reduction in institutional grants. Of the scholarship recipients, 45% received less than $2,500, 35% received $2,500 to $9,999, and 20% received $10,000 or more. Slightly more than half said that their private scholarships were renewable.
According to IRS Statistics of Income data, more than 806,000 taxpayers reported $3.4 billion in taxable scholarships in 2018. on September 27, 2021. This bipartisan legislation would require all colleges to disclose their scholarship displacement policies to prospective and enrolled students, letting them know how receipt of private scholarships may affect a student’s eligibility for institutional financial aid and the amount of institutional financial aid awards.
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