Scholarships with Strings Attached - COLLEGEdata - Pay Your Way
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Scholarships with Strings Attached

Scholarships won't give you money for nothing. Some even set down requirements you must meet after you graduate.

You may find what looks like the perfect scholarship and then discover "the catch." Find out why it is critical to know exactly what you are signing up for.

Scholarships That Require Job or Career Commitments

Many scholarships require that you work for a number of years in a certain field, such as healthcare or teaching, once you graduate. If you don't provide evidence of such employment, the sponsor will usually recover the scholarship money.

Some scholarships require you to work for the sponsor, such as the military, after graduation. If you don't follow through on your agreement, sponsors will recover the money or treat it like a loan—with interest.

Scholarships That Require Specific Studies or College Location

Some scholarships aim to increase participation in a certain major or attendance at a school in a certain state. If you change your mind about your studies or college, you may have to return the money.

Scholarships That Require You to Go Home

You may be required to return to your hometown or state after graduation, no matter what career you pursue. Proof of your residency after graduation may be required.

Before you sign on the dotted line, check the terms of acceptance carefully to see just what you are promising to do—and then decide if you can live with it.

What's Next?

Note: Financial information provided on this site is of a general nature and may not apply to your situation. Contact a financial or tax advisor before acting on such information.

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COLLEGEdata Dollars are
points you earn by
completing certain
COLLEGEdata activities

Ways to earn
COLLEGEdata Dollars:

  • Complete your Admissions Profile.
  • Add colleges to your College Choices.
  • Update your Admissions Statuses.
  • Use the College Match tool.

What are COLLEGEdata Dollars (CD$)?

COLLEGEdata Dollars (CD$) are points you earn by completing certain COLLEGEdata activities. The maximum number of CD$ you can redeem is 5000. Once you have earned at least 2500 CD$, you can redeem them for $25, which will be provided to you on a Loyalty Card, and once you earn another 2500 CD$, you can redeem those CD$ for a second $25, which will also be provided to you on a Loyalty Card.

Earn points and redeem them for
U.S. Dollars

Complete certain COLLEGEdata activities (for example, signing up, starting your Admissions Profile, searching for colleges, calculating your chances for admission, searching for scholarships, updating your Profile with your admission decisions). Each activity is worth a specific amount of points (CD$). You can redeem the points you earn for U.S. Dollars that will be issued to you in the form of a 1st Financial Bank USA Loyalty Mastercard®.

How do I earn COLLEGEdata Dollars?

You can earn CD$ by completing certain COLLEGEdata activities. As soon as you sign up and activate your COLLEGEdata account, explore COLLEGEdata and begin completing COLLEGEdata activities to earn points.

Here is a full list of COLLEGEdata activities for which you may earn CD$ and the number of CD$ you can earn by completing each activity.*

Activity
CD$
×
Congratulations!
+ CD$
You just earned COLLEGEdata Dollars!
Check your CD$ Dashboard at the bottom of the page to view your CD$ balance, find other activities that you can complete to earn CD$, and redeem the CD$ you have earned for U.S. Dollars.