FAQ's

UNL Buffett Scholar FAQ’s

 

1.       What costs are covered with my Buffett Scholarship?
The table below indicates the maximum value of a Susan Thompson Buffett Foundation Scholarship each semester or quarter at each public college in Nebraska for the 2013-2014 academic year.

                  Maximum Awards by School (Per Semester or Quarter)

 

full time (12+hours)

three-quarter time (9-11 hours)

half time

(6-8 hours)

quarter time (3-5 hours)

MCC and SCC

$1,200.00

$900.00

$600.00

$300.00

all other community colleges

$1,800.00

$1,350.00

$900.00

$450.00

Nebraska State Colleges

$3,700.00

$2,775.00

$1,850.00

$925.00

University of Nebraska

$4,250.00

$3,187.50

$2,125.00

$1,062.50

NCTA

$2,750.00

$2,062.50

$1,375.00

$687.50

 

2.       When should I apply for the Buffett scholarship?
Check the Susan Thompson Buffett Foundation website www.buffettscholarships.org for application deadlines and eligibility requirements.

3.       Am I required to file a FAFSA?
Yes, with your application. Financial need is one of the criteria for the scholarship and is determined by the student filing a Free Application for Federal Student Aid (FAFSA) and submitting a copy of their Student Aid Report (SAR) along with the scholarship application. Please go to www.fafsa.ed.gov for more information on filing for federal student aid.
Once you have been awarded the scholarship, the FAFSA is not required for subsequent years for renewal of the scholarship. However, we do encourage you to complete or update your FAFSA application annually to see your aid options. Students who receive federal financial aid should contact the UNL financial aid office regarding annual requirements.

4.       Do I need to reapply each year?
No. Your scholarship will automatically renew each semester for up to five years for a four year college if you continue to meet the scholarship requirements or until you graduate or obtain your bachelor’s degree, whichever comes first.

5.       What if I add classes after my scholarship has been paid?
The costs of these classes are the student’s responsibility. If the classes are added between the early registration period and the first week of classes for fall and spring, or the first day of each summer session, scholarship funds will pay the additional tuition and fee costs up to the maximum scholarship amount.

6.       What happens if I drop classes?
You must maintain at least 9 credits per term, and you must earn at least 18 credit hours or 27 quarter hours in each calendar year. Failure to meet these requirements will result in a probationary period. Two consecutive or three total terms of probation will result in the loss of your scholarship.

7.       What GPA is required to maintain my scholarship?
You need to maintain a cumulative GPA of at least 2.0 each term.  Failure to meet this requirement will result in a probationary period.  Two consecutive or three total terms of probation will result in the loss of your scholarship.

8.       What happens if I do not participate in or comply with all William H. Thompson Scholars Learning Community (WHT) requirements?
Your scholarship will be terminated.

9.       Are summer school costs covered?
The summer term is funded the same as the fall or spring terms, and students are funded based on the number of credits enrolled. (see chart above)
If you are attending summer session courses, please complete the Summer Financial Aid Application, found under the Financial Aid tab in MyRED, indicating you are a recipient of the Buffett Scholarship.  Doing so will allow the scholarship to be credited for the summer term.

10.   Does summer school count as a semester?
The Foundation gives summer school the same weight as regular semesters.  There is no minimum credit hour requirement, but if your GPA drops below 2.0, it will be considered probation.  Two consecutive or three total terms of probation will result in the loss of your scholarship.

11.   Can my scholarship be used for study abroad?
The Susan Thompson Buffett Foundation reviews each request and approves scholarship funds on a case-by-case basis.   Students are eligible to receive funds for study abroad programs if the credits earned while abroad count toward graduation, if the program is approved by your primary institution, if fees are paid directly to your primary institution, and you are not on academic warning or probation at the end of the term immediately prior to going abroad.   This request form can be found on the campus Thompson Scholars website.

Deadline to request approval of funds

Fall Semester = August 1st

Spring Semester = December 1st

Summer = April 1st

 

12.   May I use my scholarship at another state school even if I am a student at a University campus?  You are eligible to submit a request to receive scholarship funds at a secondary institution unless you are enrolled full-time at your primary institution.  A request for funding at a secondary institution is due two weeks prior to beginning of the semester/quarter.  This request form can be found on the campus Thompson Scholars Website.

 

13.   How many credit hours must I carry each semester?
You must maintain at least 9 credits per term, maintain at least a 2.0 cumulative GPA at the end of all terms, and you must earn at least 18 credit hours or 27 quarter hours in each calendar year. Failure to meet these requirements will result in a probationary period. Two consecutive or three total terms of probation will result in the loss of your scholarship.

14.   Is this scholarship for graduate work?
The scholarship is for undergraduate studies only.

 

15.   May I transfer my scholarship to another Nebraska state college or community college?
Yes. You may transfer your scholarship to any Nebraska state public college, university, or community college as long as you notify the Foundation in advance, are still an undergraduate student, and are meeting scholarship GPA requirements. Scholarships to UNMC will transfer only for specific programs; please email scholarships@nebraska.edu the name of the program to confirm your scholarship will transfer.  You also need to notify UNL of your intentions to transfer.

16.   How is my scholarship paid to me?
The Foundation sends your scholarship to your campus, which then credits your UNL billing account.

17.   I am a freshman or sophomore. Whom do I contact about the Thompson Scholars Learning Community?

At UNL, contact 402-472-5523, or visit the website http://www.unl.edu/wht

At UNK, contact 308-865-8364, or visit the website http://www.unk.edu/thompson/ .

At UNO, contact 402-554-4080, or visit the website http://www.unomaha.edu/thompsonlc/

18.   What is the e-mail address to ask other questions I may have?

E-mail your questions to scholarships@nebraska.edu. Make sure to include your name, NUID and which campus you are attending.

19.   Do I need to claim the scholarship funds as income on my tax return?

Generally speaking, a scholarship or fellowship is tax free if you are a degree candidate and the award is used to pay for tuition and required fees, books, supplies and equipment. Any amounts used to pay for room and board and a stipend for living expenses is taxable.  If you have specific questions, we encourage you to talk with a tax preparer.