For this example, we will use the following assumptions:
For the 2015-2016 academic year, the VA paid up to $21,084.89 as an initial tuition payment for the year (2016-2017 amount will not be known until late July or early August). This amount can be paid out completely in the fall semester depending on the tuition and fee charges. For this example, we will round up to $21,085.
The fall semester tuition and fee charges of $22,315 will be almost covered by the $21,085 maximum initial VA tuition payment, leaving a $1,050 balance. H-SC splits that amount with the VA 50/50. Our $525 match is covered by the President's scholarship, leaving $17,475 of the original $18,000 scholarship amount. The VA will send a Yellow Ribbon payment to H-SC for the remaining $525.
For the spring semester, the tuition and fee charges of $21,699 will need to be covered through the Yellow Ribbon match because the VA already made its maximum initial tuition payment of $21,085 in the fall semester. Our $10,849.50 match ($21,699 divided by 2) is also covered by the President's scholarship, leaving $6,625.50 remaining of the adjusted $17,475 scholarship amount.
At this point, all tuition and fee charges have been covered by either the VA or by the College through the Yellow Ribbon match. That leaves the $13,286 in room and board charges. The VA pays a monthly housing allowance directly to the student, adding up to $9,816 for the year. Hampden-Sydney subtracts the total monthly housing allowance payment from the room and board charges, which leaves a remaining balance due of $3,470. Since you still have $6,625.50 of your original President's scholarship remaining, we would use it to cover the $3,470 and your scholarship would then be recalculated to be $14,844.50 ($525 fall semester match, $10,849.50 spring semester match and $3,470 remaining room and board charges).
If you are a Virginia resident and verify your eligibility for the Virginia Tuition Assistance Grant ($3,100 estimated amount for 2016-2017), it would be used before calculating your final President's scholarship amount. In this case, since there would still be a balance due ($3,470-$3,100), the $370 would be covered by the remaining President's scholarship amount. Therefore, in both of these cases, the President's scholarship would be reduced from its original $18,000 amount because all College billed costs have been paid by either the VA or Hampden-Sydney. If you were awarded a Citizen-Leader scholarship or Minority Leadership scholarship, these would be used to meet the Yellow Ribbon match before your President's Scholarship.
*If you have less than 9 months of Post-9/11 GI Bill eligibility to use for the year, your calculations will be different and you may have a balance due to the College for any semester in which you don't have benefits that can cover that entire period. Please contact the Financial Aid Office with any questions.