Should a Wealthy Student Accept a Full Scholarship?

June 23, 2008

Money and ethics often go hand in hand, and this weekend Kiplinger featured a reader question involving these two very connected things. It doesn't involve anything scandalous like money laundering or embezzlement, in fact it's about something as innocent as education. She asked if her millionaire cousin's son should accept the full academic scholarship he was offered by their state university.

This question was interesting to me because I'd really never thought about it as an issue — if a student earns a scholarship then why wouldn't he accept it? The response to the question mentions that the family should make a donation as repayment to the school. What's your opinion?

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50 Comments

Captious 4 years 41 weeks

There is no saying what he -should- do. If I was him and my parents were willing to foot the bill for school I would turn it down.

i am awesomeness 4 years 45 weeks

Does the article say that he applied for this scholarship? I'm not being sarcastic, I'm just asking. I know at my school, I got a merit scholarship and I didn't have to apply for it. I automatically got it when they went through my application because I had the grades for it.

i am awesomeness 4 years 45 weeks

Yes. He earned it by way of academics or athletics and he deserves it. It's reverse discrimination to NOT offer him the money when he clearly qualifies for it. And people get pissed when rich kids use their parents money-- this is a kid who has earned something and idk his motivations, but if he is able to put himself through college he should do so, and he is. Sheesh, some people are just never happy... I think he should be applauded instead of being scorned.

Just Oh 4 years 46 weeks

Of course he should accept the scholarship. As others have noted, the student EARNED it and the university will benefit from their acceptance. There's a lot of competition for excellent students these days. I attended a very humble state university for my undergrad and its reputation has only increased since it started aggressively recruiting top high school students who otherwise wouldn't think of enrolling but for the full ride.

codewhiz 4 years 47 weeks

I think the state university is offering the scholarship to the kid in order to boost its profile.

j2e1n9 4 years 47 weeks

This is a stupid question if you ask me. Why anyone would even ponder this is beyond me.... Of course he should accept it, regardless as to his family's wealth, since he earned it. And its been my experience that wealthier families always give donations to their colleges. What a weird question. :OY:

em113 4 years 47 weeks

and not to bombard this post with comments, but paying for your children's education is hardly "feeding your kids with a silverspoon." Sure, it's a nice thing to do that some parents may choose not to do, but I, and many other people, are not spoiled just because my parents have worked hard and always managed their money well-enough to ensure that I could graduate from college debt-free.

em113 4 years 47 weeks

oops I meant to write wouldn't have taken it.

em113 4 years 47 weeks

I'm torn, but leaning more towards Bella. I know when I applied for school I didn't apply for any scholarships because I knew my parents could pay and I would've felt terrible taking the money that someone else *needed* to go to school. I was still offered money by several schools (none of which I chose to attend) and I would've have taken it. Yes, you could say I earned things because of my grades, but so what, maybe I had more time to study because I wasn't working two jobs in high school! And yes, obviously, if the student's parents aren't helping pay for college it's a different story, but let's face it that's the exception to the rule.

the makeup blogette 4 years 47 weeks

Yes. He should accept without any qualms. Cos scholarships are all about the prestige and not just the money that comes along.

a1stbornunicorn 4 years 48 weeks

he earned it, so he deserves it. HOWEVER, do you think he would have been able to earn it without the expensive private education probably received his entire life, along with positive and successful role models encouraging his hard work? had he grown up going to an urban school lacking in caring educations and an neighborhood without positive mentors, he may have never reached his potential. that's a sad comparison, if you ask me.. not to say that all urban students are set up for failure, just that things are easier when you grow up with wealth.

Meike 4 years 48 weeks

BS. If anyone told me I shouldn't have taken my full academic scholarship because my parents could afford it, then they don't know what it took to earn it. My parents made a life for themselves from small beginnings and earned their way up. They then passed on that same torch of responsibility to me. Not all well-to-do parents spoon feed their kids from birth to college.If he truly earned it, he deserves it and should accept it.

Meike 4 years 48 weeks

BS. If anyone told me I shouldn't have taken my full academic scholarship because my parents could afford it, then they don't know what it took to earn it. My parents made a life for themselves from small beginnings and earned their way up. They then passed on that same torch of responsibility to me. Not all well-to-do parents spoon feed their kids from birth to college. If he truly earned it, he deserves it and should accept it.

bluepuppybites 4 years 48 weeks

IF the student worked for it then why not

miss ellie 4 years 48 weeks

If he deserves it, then yes he should accept it. Just because his family has money doesn't automatically mean that his parents give him everything. This type of thing irritates me. I do not come from a "millionaire" family by any means, but I was so annoyed in college when I applied for an on-campus job and could not go through the actual application process simply because my father's income was over a certain amount every year. (I guess that means you get everything handed to you then and therefore do not need a job?) However, if this scholarship was given to him because of the status/name of his family, then that's another story.

mochick 4 years 48 weeks

i totally agree with bella. whether he/she earned it or not, if there are other means to pay the bill, why take the help?my high school forced all seniors to fill out scholarship forms, and one girl refused. why? because her parents had already told her they'd handle all her college expenses. the school MADE her return it, and she was offered a few scholarships, all of which she refused, very honorably. it'd be like seeing an oil tycoon eating a soup kitchen, basically. scholarships are there to help students who NEED them, they're not monetary prizes for good grades.

mochick 4 years 48 weeks

i totally agree with bella. whether he/she earned it or not, if there are other means to pay the bill, why take the help? my high school forced all seniors to fill out scholarship forms, and one girl refused. why? because her parents had already told her they'd handle all her college expenses. the school MADE her return it, and she was offered a few scholarships, all of which she refused, very honorably. it'd be like seeing an oil tycoon eating a soup kitchen, basically. scholarships are there to help students who NEED them, they're not monetary prizes for good grades.

POPSUGAR Beauty 4 years 48 weeks

OK, Bella's going to be the jerk here and say he shouldn't accept the scholarship. His family can pay for the tuition; other students' families cannot. By refusing the scholarship, he allows another student to have more opportunity. Yeah, technically, it's his — but it's more gracious and generous to pay his own way. Colleges do offer financial aid and scholarships, of course, but you can't count on them. I almost didn't get to finish college because the government slashed my Pell Grant. I just think that for wealthy people, it's declassé to accept the kind of help you don't need, especially when it could help someone else who's really struggling to afford his or her education.

POPSUGAR Beauty 4 years 48 weeks

brielleblonde 4 years 48 weeks

I think he should take it! He worked hard to earn the scholarship, and just because his parents are millionaires, doesn't mean HE is a millionaire. One side of my grandparents own a bank and are very very wealthy, but they didn't help any of my aunts and uncles out with college or anything! And for people saying there are more deserving students that need that money... colleges, both private and public, give out A LOT of scholarships. The government also gives out a lot of grants as well. Most people I know do fine with the amount they have to pay in tuition. Colleges are very generous when it comes to financial aid to those who need it.

brielleblonde 4 years 48 weeks

bellaressa 4 years 48 weeks

Yes, work hard and reap the benefits. Some people do not but if you are lucky to be the choosen lot then I say go for it.

moemarsita 4 years 48 weeks

If you earn it, then why not. But, I will say it really bothered me when people would brag about cheating the system and use scholarship/financial aid money to see a movie, buy clothes, etc.

millarci 4 years 48 weeks

I was torn on this question as well. BUT I think they should accept it only because they earned it. It's hard to get a scholarship (believe me I know), but you have to be fair.

citizenkane 4 years 48 weeks

If he earned it then absolutley he deserves it.

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